Thursday, October 01, 2009

A CAPITALIST PIGLET

The point about getting to the top is to get out of the free market. This is obviously true for the MOTU and here's another example:
Abercrombie's Michael Jeffries was awarded total compensation of $71.8 million last year, with a base salary of $1.5 million, according to the Corporate Library.

His compensation package included a $6 million "stay bonus" designed to keep him on board, despite his 17-year tenure, as well as perks such as the use of a corporate jet.

I would think that $65 million is enough of an encouragement to "stay on board."

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