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Monday, July 02, 2012

Hey, JP Morgan! I'll screw up royally for HALF that!
Posted by Jill | 6:08 AM
I'm enjoying this week off as the calm before the storm. Starting next week, I'm starting on a work schedule that probably won't let me take so much as a weekend day off until the end of October. I have one project with a timeline that's impossible to meet but must be met anyway, and also have to fit in a huge modification to another one within even less time. So I'm going to test the notion of vacation time being "recharging your batteries" by attempting to go through some of the crap in this house and get it ready to either freecycle or put out at the curb next week.

Oh, I don't think I'll get fired if I don't produce on time, but I will see it in my review next year, and there will be a financial hit in terms of the small bonus for which I'm eligible and raise. Besides -- I just don't like to screw up.

Now if I were like now-former JP Morgan Chase Chief Investment Officer Ina Drew, I wouldn't worry about screwing up. Because if you're a hotshot at Morgan, here's what you get when you do:

JPMorgan Chase & Co. (JPM)’s decision to let Chief Investment Officer Ina Drew retire four days after the bank disclosed a $2 billion loss in her division allowed her to walk away with about $21.5 million in stock and options.

A 30-year JPMorgan veteran, Drew also had accumulated 661,000 unrestricted shares of common stock worth about $23.7 million based on the May 14 closing price, $9.7 million in deferred compensation and $2.6 million in pension pay as of Dec. 31, according to company filings. Altogether, Drew’s stock, pension and deferred pay come to about $57.5 million.

Imagine that. Cost your employer $2 billion and walk away with over $50 million? Who WOULDN'T take that deal?

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1 Comments:
Blogger rjs said...
77% of JP Morgan’s Net Income Comes from Government Subsidies

http://www.zerohedge.com/contributed/2012-07-01/77-jp-morgan%E2%80%99s-net-income-comes-government-subsidies
7/2/12, 6:19 AM  
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