The Single Most Ridiculous Thing I Have Ever Seen

No I am about to tell you the story of quite possible the most over-paid, under-achieving, biggest waste of shareholder dollar, stock price destroying, arrogant, should be fired tomorrow CEO in America. ---Henry R. Silverman.

You sir are a disgrace. You do not deserve to have a job running a company. Here is a brief summary of Mr. Silverman's 2005 pay package. A year I will remind you that the stock of Cendant (CD) his company went from around 23 to a whopping 17 and now hovers between 15 and 17. In fact over the last 2 years the stock has done nothing but go down. So here is the lowdown:

$3,300,000 -Salary $12,316,600 -Bonus $100,374 -Other Comp
$6,600,496 - defined contribution, life insurance premiums/bonus, medical benefits

In 2005, Mr. Silverman's perquisites and personal benefits included $49,388 for personal use of corporate aircraft and $49,986 for provision of corporate automobiles and drivers;

--Pretty ridiculous isn't it, especially considering he took a PAY CUT in 2005. But not to be deterred, Mr. Silverman decided to add a little something extra on top of that pittance of an executive salary. He decided to exercise a few options, you know something to the tune of ::

$117,644,547


That brings our total for today to as the WSJ reported $139.9 million dollars. (my total may have left something out so I went with them to be sure)


Yes shareholders that's what you get for a 26% drop in share price and a 36% drop in GAAP income. Do you realize that he took home the equivalent of 10% of CD's income for the year. He should not be allowed to run a public company. He should be fired! And that ladies and gentleman is all I have to say about that.