HOLY SHIT-SICLE(similar to a popsicle only made of shit).  WaMu goes and hires a new CEO to help them through their troubled times and guess what happens, Alan H. Fishman, throw’s on his “golden-glowing-billowing parachute” and jumps out of a window with cash falling out of his pockets.  (I wish I could draw..).  Not just pockets full of cash but bank accounts full, 20 million dollars.

According to filings with the Securities and Exchange Commission, WaMu threw a $7.5 million bonus at Fishman when it hired him on Sept. 8, and guaranteed him an immediate cash severence of $11.6 million — both of which he gets to keep.

He also was eligible for annual bonuses of up to 365 percent of his annual base pay — set at $1 million — to go with millions of shares of company stock.

Fishman does lose out on a big bonus that would have kicked in had he remained on the job through 2009.

Oh, say it ain’t so, he will miss out on that big bonus.

Documents show WaMu was going to pay their new boss $8 million to simply not screw up and get fired — all negotiated as the Seattle-based banking giant’s loses climbed to an estimated $20 billion.

Wow, I would love a job where I could get paid 8 million to just not screw up enough to get fired.  Seriously, I guess I need to find a bank that is failing…

Tags: asshat, CEO, wamu
Posted in news, webdesign |

This entry was posted on Friday, September 26th, 2008 at 12:40 pm and is filed under news, webdesign. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.