Was $700 an hour too much?

[Lohman446]

Title says it all... why $695?

REGIONAL NEWS
WaMu wants to hire restructuring officer
Washington Mutual Inc. has asked a federal bankruptcy judge in Delaware for permission to hire a chief restructuring officer to assist with the settling of the company's debts. William Kosturos, managing director of Alvarez & Marsal, a restructuring advisory services firm, will be paid $695 an hour, according to a court filing; previously he served as CRO for Movie Gallery and interim CEO of The Spiegel Group.

Washington Mutual is seeking to retain other Alvarez & Marsal personnel.

[sffudapparel]

It's 1.5 million a year pretax. Gov would take ~30% so the guy would only make about a million a year. Yeah it's a lot but if he can restructure a whole company why not.

Only problem is that the taxpayers would be paying his salary. that

[Lohman446]

Its $11.58 a minute....

Maybe corporate salaries have gotten out of hand

[sffudapparel]

Its $11.58 a minute....

Maybe corporate salaries have gotten out of hand

I agree. Man, I would love to take a bathroom break on the clock haha. Can you imagine getting paid 150 bucks to sit on the john! haha


Edit. If only salaries were that low. Do you know what some CEO's make? It's insane

[MAGnetism]

Way outta control, we need a modern day robin hood

[Hilltop Customs]

From the sound of it, whoever they hire will be more of a consultant than a permanent employee.....but cant really know that for sure though.

[Lohman446]

$11.58 a minute. How about we put some limits to it. Like the highest paid employee should not make more a minute than the lowest does in an hour.

[MAGnetism]

$11.58 a minute. How about we put some limits to it. Like the highest paid employee should not make more a minute than the lowest does in an hour.

Shoot, That would still let Cali CEO's pull down 2 mil. a year.

[behemoth]

I make 12/hr right now.

**** that guy.

[SCpoloRicker]

Huzzah for Class Warfare!!

How dare someone else make more money than I do!! We should totally use the government to enforce what private enterprise pays people!!

/aren't y'all supposedly 'conservative'
//doesn't make seven figures
///makes more than behemoth tho

[Tunaman]

Stay in school...get the degrees. You to can be rich if you try. Dont settle for making peanuts and hanging out on internet forums like the rest of us. It's right there in front of you. Now go get it.

[Lohman446]

I disagree here. There has to be some personal moral compass.

I cannot come up with the goods or service that I could morally supply that would be worth $700 an hour. I don't know how I could charge that much and sleep at night. Investment income is one thing, ridiculous salary another.

[bryceeden]

I make 12/hr right now.

**** that guy.

Realistically 1.5 million a year isn't that much compared to what alot of people make. Shoot, think about the pro athletes making 30+million a year. I don't do much; alittle CPR here and there, get bled on some, puked on alot, lift fat people all day, climb in over turned cars while they are being cut apart, get exposed to who knows what, deal with panic stricken people, fight with drunks, minor stuff like that. Thankfully I'm paid $9.45 an hour so its all good, seems fair to me I mean come on they can catch a football .

[MANN]

That is the hourly rate for his buisness. Take half out for taxes, and he only gets 300 an hour.

Most companies use a 3.5 multiplier on time to account for taxes, benefits, & overhead. IE when I was "contracted" my boss got 52.50 an hour & only gave me 15.00. Almost all businesses do that.

[geekwarrior]

yet we don't bat an eye at sports or movie stars salaries.

your robin hood is on its way, don't worry. The tax plan is to take from the rich and give to the poor...literally. Just don't cry when you bump up to the next tax bracket and pay .40 on the dollar in taxes.