Searching for Meaning in Bank Exec Bonuses
The article “Security Bank Executives to Reap Millions of A Deal Is Completed” (Nov. 16) makes me feel like vomiting.
From what I have read in a number of national publications, quite a few banks that have been intelligently managed are in sound condition today despite the current economic environment and increasing regulatory and congressional pressures on the banking industry.
Therefore, I can only conclude that Security Pacific has not been intelligently managed, yet according to your article its top executives are going to be handsomely rewarded if the deal is consummated. Rewarded for what, poor management?
Are they not already overcompensated with fat salaries? Don’t they care about employees, many of whom will lose their jobs? Don’t they care about shareholders who are suffering as a result of lost dividends? Of course not!
Maybe it is time someone like Ralph Nader became a crusader against overblown executive compensation.
DAVID WILL
La Canada
