What percent of earnings is $180M?
Pfizer makes what, $40 BILLION a year?
So. that's about 0.45% of earnings?
I agree that this is a disgrace ... but the world is not ending.
While the payout to McKinnell was legal and is a small amount with resect to the earnings of Pfizer it leaves the small investor like myself asking a couple of questions. Is the board who made this deal with McKinnell still intact and if so what has changed with this company? I have sold my shares at a loss because i believe nothing has changed-just my opinion.
So why did the feds, SEC and NY AG go after Grasso?? After all the NYSE board approved it and the shareholders of NYSE at that time were 100% wall street insiders..
It is a joke..when the Banc of America analysts says it is a good thing 2000 sales people are getting a pink slip since it will add 5 cents to EPS but the fact that Hank's 6 cents a share giveaway is "he earned it" is a grotesque statement.. He was not the one humping his butt detailing the drugs was he?? is it the fault of the sales guys and numerous others who are getting pink slips before the holidays that R&D, marketing, medical, clinical, manufacturing etc. could not bring drugs to markets? is it their fault that all the fat cats in the leadership and BOD (except for maybe Jeff) did NOTHING even though they knew as early as 1997 that there will be $14B patent expirations by 2007??
I am a PFE long..but it is disheartening to note the lack of empathy and disproportionate nature of rewards in our system..1000s of people get COAL in their stockings and 1 guy gets $180MM..God Bless America.. Screw the samll guy..I love this country!
The problem with Big Shot Executives making Millions and Millions is more than mathematical.
Some argue if we (the stockholders) gave Hank nothing it would only increase the bottom line a few cents.
Well it is more than that!!!!!!! Sure Hank (The Blank) has guided the company thru a 40% decline and cost my family some of its future but.................
The real problem is the negative attitudes it spreads throughout the company, the stockholders and even our country. Why wouldn�t a secretary take a few more �sick� days, why would that truck driver try to make the most of his day, what�s wrong with the salesman padding his Expense Account a little...................
What we have done with Hank is a cancer in Capitalism. What we have done to reward this inept slob of a leader has no place in a society that even calls itself Capitalistic.
It is hard for most of these people with 100 shares and no time time invested except for time on the PFE board to understand the true effect of McKinnell's ineptness. People like us that watch 15000 stock options acquired over the tenure go from in the money when we recieved only to be worthless when they were redeemable. We had 30000 shares of stock in the company when Hassan sold Pharmacia down the road. We took an early retirement and pulled the pension out as a lump sum, I will not trust this company to handle the pension. We watched as Pfizer ruined the relationships we developed in the field with the physicians and the medical community. Under McKinnells watch, Pfizer salespeople became the most dreaded in the industry, and eventually hospitals and clinics began locking out salesreps(they are what makes the company tick). I am very sad that many reps are losing their jobs, but alot of those positions are redundant and doomed for elimination from the day of creation.
McKinnell did not destroy only the veterans future, but the rookies with hopes of a career only to see it dashed in moment.
The business, at one time, was fun. Now, as we are still in it (different company), it is just a job, and one filled with new uncertainties everyday.
Where in the world are you getting your $40 billion? Also, this is how PFE rewards just one man--which came to light through the press. What else is going on in the form of compensation and stock option grants that we don't know about at this company?
I used the 2005 number (whch is more than $40 billion). If I am way off, why not give the correct instead if imply my numbers are incorrect.
And to answer your question, all you have to do is look at the financials. It's 1 click away!
dear Suckee 68 million was his contribution of his own money to the deferred comp and 10 million was from what the account earned plus a 2.5 million Pfizer contribution. So you are now talking about 120 million or so. A big package, but not as big as they make it to be.
You're right..let's put this in prespective.
$200,000,000 devided by 80,000 employees would generate a bonus of $2,500 per employee. This amount could be applied to next yearend rewards for a successful year and increased shareholder value.
Just a thought!