Quote:
Originally Posted by Craig T
...
Of course the execs of the buying companies make big money already, but rarely was there any kind of immediate windfall from the closing of a deal for them.....
. A few years ago I lost the stomach for it. I retired last January.
|
I knew you were a heavyweight in this arena from prior posts over the years....azzhole
.
I keed, I keed...
As for the first aspect...in the banking arena, I rode two broncos that are now wearing the BoA and Wells Fargo (Wachovia) brands....during the post banking deregulation daze that began in the mid 80s. The Pacman model....gobble, gobble, grow, grow, gobble, grow....
Bigger is better, economies of scale, synergies, blah, blah, blah....
The exec payoffs were due to sheer size after post acquisition imo. The execs at a 100B bank make coin....a 200B bank....bigger coin...almost immediate.
I was a burned out, rode hard, put away wet young bronco when I got sick of all that crap too....but I didn't get rich....oh well....
Life is/was good though....I was a young super techie (systems/network integration) doing what I loved on the tech side, but loathing the corporate cultures and mentality. To be clear, I never lost MY job...no resentment...just bad memories
.
Another example....outsourcing (at a much smaller outfit though). CEO at my last rodeo made 7 million back in '08 as she began to dismantle a VERY profitable co. Outsource an IT dept (total fustercluck)...get an 8 million dollar raise in '09...then immediately retire...
At least she drove a Porsche
GREED is good....remember that line?
I saw it happen first hand....over, and over, and over again....
My advice to anyone in that type of environment as a peon (like I was)....get the hell out of Dodge...asap, it will never get better, only grows like a cancer that will hurt you....