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Morgan Stanley's CEO Mack Gets Record $40 Million Bonus

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Yavin4 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-15-06 10:23 AM
Original message
Morgan Stanley's CEO Mack Gets Record $40 Million Bonus
Dec. 15 (Bloomberg) -- Morgan Stanley gave Chief Executive Officer John Mack the biggest bonus for the head of a Wall Street firm, awarding him $40 million as the company headed for the best profit in its 71-year history.

...

The payout for Mack, 44 percent more than Morgan Stanley awarded him last year, eclipses the $38.3 million in total compensation Henry Paulson received in 2005 as CEO of Goldman Sachs Group Inc. Shares of Morgan Stanley, the second-biggest U.S. securities firm by market value, are having their best year since 2003 after Mack put the firm on course for record earnings.

http://www.bloomberg.com/apps/news?pid=20670001&refer=&...


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Captain Hilts Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-15-06 10:26 AM
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1. So, how much are they paying their lower-ranked employees? nt
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Lucky Luciano Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-15-06 10:28 AM
Response to Reply #1
3. This is the one business where lower ranked employees
can get paid pretty well too. Often times there are star traders that beat the CEOs. Star salesmen that also beat the CEOS, etc....and middle level folks taking down 300K.
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northzax Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-15-06 10:28 AM
Response to Reply #1
4. well, the AVERAGE
bonus at Goldman this year is $622,000.
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Lucky Luciano Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-15-06 10:30 AM
Response to Reply #4
5. $644K is highly skewed...
The Managing Directors get the lion's share...but still...the Median is probably about $150K for Middle Office on up.
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Lucky Luciano Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-15-06 10:36 AM
Response to Reply #4
7. I see your sig line!
Poincare is one sharp dude - I used to study algebraic topology some time back...eventually got a degree in algebraic geometry though....Still Poincare duality from topology is one of the most elegant theorems I encoutnered in all of math - Stoke's theorem (as applied to smooth orientable manifolds) is quite beautiful as well.
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Lucky Luciano Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-15-06 10:27 AM
Response to Original message
2. Wall St is doing very well...
Traders are seriously kicking ass because volumes have increased with more electronic trading. Bid/Ask spreads have tightened up a lot to cause the increase in volume - among other things. The sell side traders have done well. Also, the proprietary trading desk have smoked the game well too. Long/short books had it right. There is M&A activity as well as very tight credit spreads in the debt capital markets - this means there is room to borrow a lot of money for companies - particularly "distressed" names.
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no_hypocrisy Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-15-06 10:33 AM
Response to Original message
6. Is he going to convert it into Euros? n/t
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Double T Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-15-06 10:39 AM
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8. Completely OBSCENE............
the fact that some people think THIS KIND OF COMPENSATION is justified and the way in which wall street creates this 'wealth' is ethical, just baffles the hell out of me. Selling out and selling off your country and countrymen to gain 'wealth' is irresponsible unethical greed.
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