Monday, October 6, 2008

CEO of the Day: Richard S. Fuld, Jr.

Richard Severin Fuld, Jr. - Former CEO of Lehman Brothers

I haven't read it all just yet, but jeez, who wrote this man's prepared testimony? There's no way he didn't know for quite some time that his company was going for bust.

Born and raised in New York

M.B.A at NYU's Stern School of Business
ATO frat boy for undergrad at CU-Boulder
Worked for Lehman Brothers for 40yrs
Leader of Lehman Brothers for 15yrs
Served on the Board of Directors for Federal Reserve Bank of New York and the Robin Hood Foundation (It Ain't Right!)
Served on the Board of Trustees for Middelbury College and New York Presbyterian Hospital
Forbes ranked #11 in 2008 for CEO compensation

During questioning by Rep. Henry Waxman it was found that:
Since 2000, He has taken home more than $480 million dollars in company profits
He claims that *for the years that Henry Waxman was asking him about* his cash compensation was *only* close to $60 million, and the rest of what he took out under his options was *only* $250 million - avoiding correction of any actual figures Congress had up on the screen for his compensation

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