20080926   

All in three weeks work

Michael considered fate at 10:56   |   Permalink   |   Post a Comment

Among the many tidbits found in the NYTimes Government Seizes WaMu and Sells Some Assets we find this juicy morsel:

But the seizure and the deal with JPMorgan came as a shock to Washington Mutual’s board, which was kept completely in the dark: the company’s new chief executive, Alan H. Fishman, was in midair, flying from New York to Seattle at the time the deal was finally brokered, according to people briefed on the situation. Mr. Fishman, who has been on the job for less than three weeks, is eligible for $11.6 million in cash severance and will get to keep his $7.5 million signing bonus, according to an analysis by James F. Reda and Associates.

Not too shabby. That's far better than A.Rod, Manny, Manning, or Brady can even claim.