Tuesday, August 13, 2002

Here's a story
of a CEO
who was cashing out millions worth in stock...

Fortune presents The Greedy Bunch. Krugman referred to this in today's column. There's John Chambers of Cisco. There's AOL Time Warner (who incidentally publishes Fortune). There's Enron. Linda Lay must have been crying poverty because Kenny Boy only cashed out $107 million while one Lou Pai cashed in $280 million. Then there's the less well-known Peregrine Systems, whose CEO John Moores cashed out $646 million by himself. That would cover the losses on the San Diego Padres, which Moores also owns, for the next 85 years. (That's probably an inaccurate claim by Fortune. The truth would be that his cashout was 85 times higher than the yearly loss sustained by the Padres. Constant dollars and all that.)

Lots o' links in that there article. Get thee hither post haste!

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