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Not Bad for Less Than 3 Weeks on the Job!
Times are tough in today’s banking sector and a lot of people are losing their jobs. Take, for instance, Washington Mutual or WaMu, which collapsed a few days ago.
But don’t cry for WaMu CEO Alan Fishman, who was on the job just 17 days before the what is now called largest bank failure in the history of the United States:
As Congress argues over limits on executive pay, the New York Times reports that the chief executive of Washington Mutual, who was on the job just 17 days, is eligible for $19.1 million in compensation.
For short-time CEO Alan H. Fishman — named to run the failing bank less than three weeks ago — that would work out to $1.12 million per day (assuming he worked weekends). If he worked eight-hour days, it works out to $140,000 per hour.
Photo via Seattle Times
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