The compensation committe was really tough. The poor guy was only paid $20,000,000....I pity him. Also, that fine had nothing to do with events in 2009. They broke the law in their dealings with mortgage holders. And you can bet that $50,000,000 was a fraction of the money they stole from the mortgage holders. Stop defending criminal conduct!
No, not jealousy. I've done OK during my work career. It's that I'm always amazed at the disparity between the importance to society of what people do and what they are paid for doing it. Often the lowest paid work is the most important work, and vice versa. Very strange!
For example, the oil/gas (KMI) analyst at Goldman Sacs probably makes much more than Janet Yellen. Yet he has no responsibility for the accuracy of his opinions and is largely ignored. Jamie Dimon has a trillion dollar business buying and selling derivatives and CDO's. What is the value of that for 95% of Americans? None. And the same applies to the millionaires that run companies making fashionable shoes and clothes, or mine gold and diamonds, or operate casinos. And, as we all know, the lowest paid workers grow and harvest the food we eat.
No. And I'm not assuming Dimon could run the Federal Reserve either.
It's a question of relative responsibity. Janet is responsible for ensuring the entire complex US economy is healthy.and growing...and to a degree the economies of the entire world. Dimon is only responsible for keeping one company healthy and growing. By that measure either Janet is grossly underpaid or Dimon is grossly overpaid...in terms of their relative responsibility for the assets they oversee.
To me that is strange but true. Janet would have to work 100 years to make what Dimon makes in one year.
In Dimons league? You must be kidding.
If Dimon is so smart why did JP Morgan break the law in 2011-12? $20,000,000 of that $50,000,000 fine should have come from his salary. He has a big advantage Janet does not have...he sets his own salary. As I said...to some people this makes sense.
And let's not forget the 241 US servicemen killed in 1983 in Beirut by a suicide bomber! Funny how people who complain about Bengazi never mention this happened when their hero Reagan was president.
Federal Reserve Chairman Janet Zellen is paid $201,700/year.
JP Morgan Chase CEO Jamie Dimon was paid $20,000,000 in 2014...100 times more than Janet.
To some people, I imagine, this makes sense. Also, today JP Morgan Chase was fined $50,000,000 for unlawful mortgage lending practices in 2011-12.
It sounds like the 60% of bond holders made a very bad decision in view of the collapse of the common stock price after July 18, 2014. Especially given the 2017 expiration date of the bonds (only 3years later). Thanks for the interesting post.
On July 23, 2014 Seeking Alpha published this: Here's why you should ignore short term fears about SDRL
On July 22, 2014 Mötley Fool published this: Why I'm not selling SDRL
Plus lots of other similar articles last summer.
However, on July 29, 2014 Tor Olav Troeim, Fredricksons partner for 19 years resigned, but stayed on the SDRL board. On Sept 29 he resigned from the SDRL board. Seems likely (to me) he sensed big trouble ahead, and warned Fredrickson, but was ignored.
T Boone Pickens failed to predict the drop in oil prices. No way to know if his next prediction will be true.
If they do that SDRL with never get another loan from anyone. Not to mention the lawsuits and confiscation of assets by the lenders. Your option is not being considered IMO.
The Kudlow Report (TV) a year ago featured a video of a company that can convert most cars to NG in a few hours for about $800. Pretty slick. But I'm sure the gas companies, and key politicians, will block any measure to install auto refueling depots. Boone Pickings had a plan to build depots but it seems to be stalled...I think because NG prices are too low.
I agree. Hiland Partners is (was) an MLP but what they were doing seemed under the radar except for the list of assets. For example, I never found any financial details online, like a balance sheet. We are told it sold for $3 billion including debt. How much debt? One analyst said $500 mullion, another said "almost a billion". I did read that Continental Resources paid $300 million for the Double H pipeline. Is that cost part of the debt? Hard to know.
I've read it doesn't matter what Obama does because a number of Nebraska landowners oppose eminent domain access to their land and vow to take it to the Supreme Court if necessary, which could take years. Eminent domain exercised by a for profit foreign company does seem fishy, to me anyway.