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Veritas Executive Compensation Consultants,
LLC. (“Veritas”) is a truly independent executive compensation consulting firm.
We
are independently owned, and have no entangling relationships that
create potential conflict of interest scenarios, may attract the
unwanted scrutiny of regulators, shareholders or the media, or create
public
outcry.
Veritas also
believes that public company Boards of Directors and
shareholders deserve higher standards of disclosure that verify the
independence of the executive compensation advice that their companies
receive
from their consulting firms. This disclosure will assist in curing the
terribly negative views that shareholders, employees, the media, and
the
American public have on executive pay.
Veritas goes above and beyond to provide unbiased executive
compensation counsel. Since we are independently owned, we do our job with utmost objectivity - without any entangling business
relationships.
Following stringent best practice guidelines, Veritas works directly with
boards and compensation committees, while maintaining outstanding levels of appropriate communication with senior
management.
Veritas promises no compromises in presenting the
innovative solutions at your command in the complicated arena of executive compensation.
We deliver the advice that you need to hear, with unprecedented levels of
responsive client service and attention.
Visit us online at www.veritasecc.com, or contact our CEO Frank Glassner personally via phone at
(415) 618-6060, or via email at fglassner@veritasecc.com.
He’ll gladly answer any questions you might have.
There were many good points made given the short time in which to make them.
Bud Crystal's point was well taken that this was deal maker's package and dealer makers have a mobile history, so the situation not amenable to long-term value designs.
Had the financial crisis not occurred, the public likely would have never heard of an arrangement such as this.
Andy Klemm
The Federal government is asking the wrong question. The right question is why should an insured financial institution be trading energy. Granted, it is a profitable business, but so is internet advertising. Banks don't belong in that either.
Having a limited playing field is just part of the cost of a Federal guarantee.
Interesting points.
My concern is mainly based on the fact that we assume that the performance goals were well-structured and reasonable. Without some ind of underlying detail it is hard to know if this is an example perfect compensation or some crazy boondoggle pay (or somewhere in between).
Then if the metrics were properly set, is the final pay amount properly relative to the size and performance of the company.
Any amount of compensation can be correct if the underlying metrics make sense. Just as any amount can be too high if there is nothing to support it.
I think Frank and Bud both made the point that if there was truly performance to support the compensation, there there is no problem.
I would have liked to have heard a bit more from Frank on his closing point regarding golden parachutes and severance pay.
VIDEO LINK TO YESTERDAY'S
BLOOMBERG TV ROUNDTABLE DISCUSSION
THE EXECUTIVE PAY CRISIS AT
CITICORP
Thanks to those of you who
were able to join us yesterday for the interview on Bloomberg TV.
For those of you who were unable to view the live
video, please access the following link for the recorded video stream:
http://www.youtube.com/watch?v=YJ6oNBnXT4U
Should you have any questions or if you would like additional information, please don't
hesitate to contact Frank Glassner directly at (415) 618-6060 or by email at fglassner@veritasecc.com.
We look forward to hearing from
you.