Ex-Citigroup Chief Will Walk Away With Close To $100 Mil

Times Online   |  Miles Costello   |   November 9, 2007 07:52 AM


stumbleupon :Ex-Citigroup Chief Will Walk Away With Close To $100 Mil   digg: Ex-Citigroup Chief Will Walk Away With Close To $100 Mil   reddit: Ex-Citigroup Chief Will Walk Away With Close To $100 Mil   del.icio.us: Ex-Citigroup Chief Will Walk Away With Close To $100 Mil

Charles "Chuck" Prince, the deposed head of Citigroup, is in line to walk away from the Wall Street giant with a total pay, perks and shares payout worth just under $100 million, it has emerged.

The payout for Mr Prince, who stays on as a consultant until the end of the year, include a pro-rata cash "incentive award" currently estimated to be worth $12 million.

It also includes $10,716,469 in restricted share awards and $16,046,703 in stock options that will automatically vest at his departure.

Comments for this post are now closed

 
 

Comments
62
Pending Comments
0

Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to

View Comments:
Page: 1 2 3 Next › Last » (3 pages total)
- Chupacabras See Profile I'm a Fan of Chupacabras

$100MM for losing billions...heh, I can do that!

Only consolation is that $100MM is not enough to buy a Manhattan Triplex apartment. They go for $150MM, sorry Prince, should have bankrupted Citi for a bigger bonus!

    Favorite    Flag as abusive Posted 11:11 PM on 11/09/2007
- loki See Profile I'm a Fan of loki

What ever will he do? His life is over...
Is he one of the mega rich who have denounced US citizenship so they dont have to pay taxes too?

    Favorite    Flag as abusive Posted 07:52 PM on 11/09/2007
- Ammobob See Profile I'm a Fan of Ammobob

Probably has some shares in Brazilian Oil, too.

The World Is Out Of Oil¦Except Brazil
"DrewM.
How long have we been hearing that we are going to run out of oil? Yes sir, any day now. Any. Day. Now. Just not today.

The Brazilian government says huge new oil reserves discovered off its coast could turn the country into one of the biggest oil producers in the world.
Petrobras, Brazil's national oil company, says it believes the offshore Tupi field has between 5bn and 8bn barrels of recoverable light oil.

A senior minister said Brazilian oil production had the potential to match that of Venezuela and Saudi Arabia

    Favorite    Flag as abusive Posted 03:42 PM on 11/09/2007
- wadenelson1 See Profile I'm a Fan of wadenelson1

That man could give George Hamilton a run for his money on the tanning circuit.

Seems like all the rich folks get to spend lots of time on St. Barts, and the golf course.

I s'pose they're just so smart they don't have to work as hard as the rest of us.

    Favorite    Flag as abusive Posted 02:48 PM on 11/09/2007
- MajorKong See Profile I'm a Fan of MajorKong

So, he's getting $100 million because Citigroup is doing so well?

    Favorite    Flag as abusive Posted 02:40 PM on 11/09/2007
- OleHippieChick See Profile I'm a Fan of OleHippieChick

As long as we're rewarding utter dipshit incompetence, does the Prince get a Medal of Freedom, too?

    Favorite    Flag as abusive Posted 02:26 PM on 11/09/2007
- dbg2 See Profile I'm a Fan of dbg2

Watch out, the bail out is coming (like it did in the savings and loan days). When it does we shut this country down. Everyone strike.

    Favorite    Flag as abusive Posted 01:54 PM on 11/09/2007
- laurelei23 See Profile I'm a Fan of laurelei23

Apparently "accountability" isn't in Citigroup's dictionary either.

You really have to work to SPEND $100mil. No one needs that much money, it's just for bragging rights. This guy must have a d*** the size of a pencil eraser.

Time to eat rich!

    Favorite    Flag as abusive Posted 01:47 PM on 11/09/2007
- NicoleAnonymous See Profile I'm a Fan of NicoleAnonymous

At least they're being held "accountable" for the poor performance at their companies. It's appalling that these guys are walking away with a huge sum of money as a reward for not doing a good job when most Americans would get a month's severence and maybe a cardboard box so they could carry their things home if they messed up this badly.

In this country we want to pass laws against check cashing services for "taking advantage" of poor people but we allow banks and credit card companies to do the same thing. The only difference is they have rich white man running the company and when they do a bad job they get even more money.

    Favorite    Flag as abusive Posted 01:38 PM on 11/09/2007
- dbg2 See Profile I'm a Fan of dbg2

Guillotines are easy to bulid and use.

    Favorite    Flag as abusive Posted 01:35 PM on 11/09/2007
- jsarets See Profile I'm a Fan of jsarets

Heck of a job, Chuckie!

    Favorite    Flag as abusive Posted 01:25 PM on 11/09/2007
- researcher See Profile I'm a Fan of researcher

good for him. amercians want capitalism then live with it while the haves rape this country. the taxpayers will probably have to bail out this group. suckers.

now go home americans and look for that socialist under you bed out to get you like your parents did with the commies.

guess who told you lovers of capitalism it is the best economic system in the world? the haves while they smile all the way to the bank and even make millions when they fail.

even the demos promote american style of capitalism. now go to walmart and buy those foreign products with that devalued dollar.

watch the capitalists will tell you that the devalued dollar is good for business. their business of course.

    Favorite    Flag as abusive Posted 01:23 PM on 11/09/2007
- bepeace See Profile I'm a Fan of bepeace

Prince, You are welcome. Your money grab was paid for by the outrageous interest rates your company has forced on me. Why should I pay my credit card bill? Can't the fat cats at the top write it off?

    Favorite    Flag as abusive Posted 01:13 PM on 11/09/2007
- drkazmd65 See Profile I'm a Fan of drkazmd65

Yet again I think,...

How does anybody that presides over such a major screw up that the board of directors removes them from their office deserve a $100 million dollar buyout?

They should sack him, watch him pack his desk, give him two-weeks severance pay and toss his ass out on the pavement.

The company is down millions upon millions on his watch,... so screw the company even deeper into the hole?

    Favorite    Flag as abusive Posted 12:42 PM on 11/09/2007
- georgecrupper See Profile I'm a Fan of georgecrupper

Ain't it nice that you can screw up like all the CEO's plus the president et all and can be rewarded with money and honors, yet the poor Americans the Stupid not only lose their home but have to pay the "write offs". There is something wrong. And the Media just writes words and never prevents a problem.

    Favorite    Flag as abusive Posted 12:21 PM on 11/09/2007
Page: 1 2 3 Next › Last » (3 pages total)
Comments are closed for this entry

You must be logged in to reply to this comment. Log in

 
 

Stock Quote

Enter a ticker symbol below:

Data provided by AOL



 

 Site  Web ask.com