Don’t let the door hit you on the way out:
Sick. Just sick. That $250,000,000 could fund 25,000 patients’ annual health care benefit costs (if one assumes $10,000 per year of fees per patient). Such options transactions hurt our healthcare system and need to be made a felony.
Related posts:
- The 0.0000005 percent fine to William Mcguire
- Killing fee-for-service
- Are COBRA and FMLA responsible for exploding health costs?
- The sad plight of William Hurwitz
- Jail for William Hurwtiz
- Sick or not
- The entitled
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{ 5 comments }
Why is everyone bad for making money but physicians?
Show me a physician that makes that kind of money in the practice of medicine. Besides corporate raiders, the only types that earn like that are
mass-tort lawyers.
This kind of compensation is nothing more than robbing the stockholders who have bought stock and deserve a fair dividend on their investments. Backdating options is nothing more than fraud.
“This kind of compensation is nothing more than robbing the stockholders who have bought stock and deserve a fair dividend on their investments”
There is the rub. The question raised is whether this kind of money is really necessary to recruit/retain a top quality CEO who will maximize shareholder value. I for one think the answer is no, and I agree that shareholders would be benefited by having that money used for other purposes
CJD,
William McGuire is a doctor. He’s become a prostitue and evil emperor, but he was originally trained as a pulmonologist.
This isn’t an issue about money and doctors, this is an issue about money. Ask Warren Buffett, free market wonder what he thinks about CEOs making these kinds of salaries. I suspect he won’t have a positive reply. The board of any company who gives CEOs that kind of compensation are either cowards, or financially beholden under the table to the CEO. No shareholder activist (which is what the board is supposed to be!!!!!) would rape the shareholders like that.
Actually, what the WSJ today said was that their HR department made it common to backdate options as a way of rewarding people- it was another problem (obstruction? tampering) that led to his departure. That’s why you won’t see Steve Jobs suffer the same action.
b
“That $250,000,000 could fund 25,000 patients’ annual health care benefit costs”
Yes, but it would not even be enough to purchase Trump’s Palm Beach estate and a mountain home in Aspen. Get with the program. It takes a lot of money to live well today.
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