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While BlackRock's Stock Sinks, CEO Larry Fink Makes Fortune In Bonuses

Blackrock

First Posted: 05/25/11 06:07 PM ET Updated: 07/25/11 06:12 AM ET

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Bloomberg:

BlackRock Inc. (BLK) Chief Executive Officer Larry Fink told investors on a conference call in January last year that the world's biggest money manager was "very well positioned" for 2010. At the end of the year, the market sent a different message: New York-based BlackRock's total share return was negative 16 percent, while the Standard and Poor's 500
Asset Management and Custody Bank Index rose 13 percent.

Read the whole story: Bloomberg

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datenutloaf
.......not approved by the moderators...........
1618 Fans
09:00 AM on 05/27/2011
suhPRISE suhPRISE suhPRISE!
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Mas
Blame has no expiration date
214 Fans
09:53 PM on 05/26/2011
This gentleman for a bad year earning report received a 50 percent increase in salary and many of them have the nerve to squealed about "uncertainty" and the current administration is out to get them.
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Neets101
watch this space for important updates
806 Fans
 
04:49 PM on 05/26/2011
I guess this is not news to many commenting here, but my jaw did hit the floor when I read this sidenote:

"Two bank executives saw their pay rise more than 10-fold. The board of directors of JPMorgan Chase & Co. (JPM) paid CEO Jamie Dimon $20.8 million, an increase of 1,474.5 percent over 2009. His salary, bonus and other compensation add up to $6.6 million; the rest is restricted stock and stock options.
Goldman Bonus Back

Goldman Sachs Group Inc. (GS)’s board paid CEO Lloyd Blankfein $14.1 million, an increase of 1,276 percent from 2009. The package included $7.7 million in restricted stock and a cash bonus of $5.4 million, ending two years in which the firm’s top executives gave up their bonuses.

JPMorgan investors earned a total return for 2010 of 2.3 percent; Goldman Sachs investors, 0.5 percent."
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olitenup
735 Fans
04:24 PM on 05/26/2011
What a great scam. Get paid really big bucks to screw clients, shareholders and employees.
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nwlover
My Lab is smarter than your honor student
1667 Fans
03:14 PM on 05/26/2011
No news with that headline.
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blueken
Finger Picking blues man
770 Fans
02:55 PM on 05/26/2011
Notice the difference in compensation from the real rain makers and the also rans? I own a tiny bit of Blackrock, and I think I will hold. It's not unusual for a fund to have a killer year and have it followed by a loser. Nobody is right all the time. I would like to sell out of spite, but I can't afford spite.
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Mr Hankey
Kucinich / Sanders (Democratic Socialist)
544 Fans
02:51 PM on 05/26/2011
And these mega financial corporations didn't want to limit their CEO pay because they were worried about talent retention - ha ha ha what a joke.
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HUFFPOST SUPER USER
cassie reinara
294 Fans
 
02:11 PM on 05/26/2011
No surprise here. Another Wall Street insider selling his stock to $uckers oops investors while it tanks. The market is absolutely disconnected from reality and if it nosedives all of a sudden would be no surprise considering it's pumped up by the FED and it's QE and ZIRP policies.
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loki
Better to die fighting, than live on knees
1322 Fans
12:32 AM on 05/26/2011
this is something news worthy thesedays? It happens at every large company.
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Reno Fickler
Head Lifeguard/Dead Sea Marina
250 Fans
09:57 PM on 05/25/2011
None of these guys could 'go yard' in any major league park. Why the big money??
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kamact
Market Observer
288 Fans
09:53 PM on 05/25/2011
Misrepresentation?
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leorangerie
508 Fans
07:49 PM on 05/25/2011
Wow, you could run this story almost every day and just insert the lousy CEO du jour. Not all, but a huge portion of the companies on the stock exchanges are a scam for Wall Street to make fees, and execs to extract bonuses that mysteriously don't seem linked to performance.
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