Goldman's Lloyd Blankfein: A $74 Million Bargain?

At $74 million a year, Goldman Sachs Chief Executive Lloyd Blankfein may be a Wall Street bargain.

The 53-year-old Blankfein caught a lot of flak when Goldman unveiled it had paid him about $314,894 each working day in fiscal 2007. Investors, quickly forgetting that Blankfein had successfully steered Goldman through the subprime storm, producing profits that were the envy of Wall Street, staged a rebellion of sorts. A proposal that would give shareholders a say in CEO pay captured a stunning 43% of the shareholder vote at the investment bank's recent annual meeting. The usually unflappable Blankfein was forced to go on the offensive. Endearing himself to investors, he said he didn't want anyone "less sophisticated" in the financial industry making decisions on his pay.

Perhaps he has a point. Goldman's savvy board members may be the best judges of Blankfein's compensation. And given their performance so far, they haven't done a bad job.

Read the whole story here.

Comments

[repugnicansfearme]

Rich might be skin depp, but ugly goes to the bone. Sheez! Some of these rich old farts got hit with the ugly stick. They deserve the money. Just down father a bunch of ugly little brats.

[chicago25624]

And my dividends just keep paying off. Way to go Exxon. And BP. And Marathon. And Brigham Exploration.

Instead of crying I am making money in sectors that are showing profits. So those of you who cry and moan about the stock market, maybe you should get on board and make so much money from the evil companies showing profits, and paying dividends, that you can generate trillions from wind and solar and save mother earth.

But don't cry to me about profit.

[SuperBunny]

Some of us prefer not to make money from certain companies, because those profits come at the expense of human lives.