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Message
Wells Fargo CEO resigns in "disgrace" with $134MM retirement funde
Posted on 10/13/16 at 6:25 am
Posted on 10/13/16 at 6:25 am
For those that don't know, many employees were allegedly "motivated" to create all of these bogus accounts that caused all sorts of drama.
Solid fail. Good thing those banks are too big to fail.
Solid fail. Good thing those banks are too big to fail.
This post was edited on 10/13/16 at 7:37 am
20
Posted on 10/13/16 at 6:27 am to Rouge
They could piss on me as I was being fired for that parachute.
Posted on 10/13/16 at 6:29 am to Rouge
Posted on 10/13/16 at 6:43 am to emoney
Yes I'm happy to see someone else listens to Planet Money!
Posted on 10/13/16 at 6:50 am to Rouge
quote:
$134MM
whoe.
I saw he resigned but figured the parachute would be 10-20mill. 134 is nuts
Posted on 10/13/16 at 6:53 am to Rouge
I hate when that happens....
Posted on 10/13/16 at 6:55 am to Rouge
He needs to collect unemployment right away . If he doesn't that little savings will be gone in no time.
Posted on 10/13/16 at 6:55 am to Rouge
To be fair, if this poor bastard never works again due to the shame of his resignation he'll have to stretch that money out for the rest of his life to live on
I know he's an older guy but it'll still be tough
Hell, he probably won't even be allowed on the OT with that kind of chump change
I know he's an older guy but it'll still be tough
Hell, he probably won't even be allowed on the OT with that kind of chump change
Posted on 10/13/16 at 6:57 am to Ash Williams
One of my retirement accounts is with WF. Wonder if it will still be there in 20 yrs?
Posted on 10/13/16 at 7:07 am to heypaul
You mean 20 of your retirement accounts
Posted on 10/13/16 at 7:08 am to heypaul
quote:
One of my retirement accounts is with WF
One of?
subtle brag
Posted on 10/13/16 at 7:09 am to emoney
Thanks for sharing that podcast
Puts a different light on these issues
Sounds more like a stressful work environment that led to cutting corners. Much like the housing crisis, upper levels of management were benefiting from the indiscretion of front-line employees. As such, many people turned a blind eye to the unethical behavior. Everyone in the company was winning and the only losers were the patrons of Wells Fargo.
Puts a different light on these issues
Sounds more like a stressful work environment that led to cutting corners. Much like the housing crisis, upper levels of management were benefiting from the indiscretion of front-line employees. As such, many people turned a blind eye to the unethical behavior. Everyone in the company was winning and the only losers were the patrons of Wells Fargo.
Posted on 10/13/16 at 7:11 am to Rouge
quote:
Stumpf made $19.3 million in 2015. But amid the scandal, he agreed to forfeit much of his 2016 salary, including his bonus and $41 million in stock awards, as the bank launched an internal investigation into the phoney accounts.
Posted on 10/13/16 at 7:12 am to Rouge
I want my future kids to grow up to be failed CEOs. Dayum.
Posted on 10/13/16 at 7:23 am to GetCocky11
quote:
resigns in "disgrace" with $134MM parachute by GetCocky11
Had he been good at his job wonder what he would have gotten...?
Posted on 10/13/16 at 7:25 am to Rouge
I'm sure he's in tears right now.
Posted on 10/13/16 at 7:27 am to Alleman
One of is not a subtle brag unless you're really doing it wrong. Diversify.
Posted on 10/13/16 at 7:29 am to Jcorye1
Different money managers at different institutions is not diversification.
Posted on 10/13/16 at 7:30 am to Jcorye1
quote:
One of is not a subtle brag unless you're really doing it wrong. Diversify.
lolwut?
Diversify your retirement custodians?
Posted on 10/13/16 at 7:33 am to Rouge
quote:
Wells Fargo CEO resigns in "disgrace" with $134MM parachute
This is actually false by the way. He had no golden parachute. The $134MM was the value of his retirement fund from 34 years of working at WF.
quote:
Because it is considered retirement, he didn't get the lavish severance packages that have gone to other CEOs who were leaving under a cloud. He had no golden parachute.
If he did have one, he could be leaving with an even bigger fortune.
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