Talk to anyone who has worked for FII and you will hear about the rank nepotism that is promoted inside this firm. FII supports many children, grandchildren, nieces, nephews and in-laws in fine fashion, mostly at the expense of the shareholders. It only makes sense that upper mgmt would overpay themselves. It truly is a little kingdom and I would be reluctant to own this stock. In fairness, I will say that FII is an able money manager, it is there business acumen that I question!
I have, and its my understanding that each newborn grandchild of the Donahue clan is endowed with $1million upon birth. This ensures the perpetuation of the dynasty. If I were married to one of the Donahue women, she would be fed a steady diet of fertility drugs and baby batter.
If you want to view the fertility drugs at work, you just need to get your hands on a copy of the Federated / Donahue Christmas Greetings card. Talk about a piece of work. It is a full color brochure where each page has another child or generation and all of their off-spring. It is interesting to note that a full color piece like this would cost soime good $$$ and it is at the expense of the shareholders. It is a known fact that the vast majority of the employees laugh at the cards presumptions. SOunds like a fiefdom?? Hopefully the Donahues read this next point. As most security experts would tell them, putting out such a card could be conceived as a high risk situation. Besides the bad will that it creates, it gives any person access to a complete family listing. It does not take a movie script (what was that Mel Gibson movie where he owned an airline?) to figure out what could be done with that.