Citigroup CEO Vikram Pandit disclosed that his pay for 2008 was $1 million in testimony before the U.S. House Financial Services Committee this morning. Folks, remember Citigroup lost $18.72 billion in 2008 including $8.29 billion in the fourth quarter alone. And fired 73,000 employees. Vikram Pandit also got about $26.7 million in stock (1.094 million […]
Starbucks is EXPENSIVE. God knows how mucho dollars we’ve squandered in their stores on the coffee, the brownies, the scones et al. Ever since our Gujjus made the Dunkin Coffee undrinkable, we’ve shifted our loyalties to Starbucks. But since the U.S. economy got flushed out into the toilet, Starbucks has taken a severe beating. Plus competition […]
Disgraced Indian IT services provider Satyam Computer has named A.S.Murty, a long-time insider, as its new CEO effective immediately. Murty has been with Satyam since January 1994. He was previously Chief Delivery Officer and also responsible for optimal utilization of Human Resources. Prior to this, Murty was Head of Human Resources and Head of Insurance vertical. An […]
Wonderful. Wonderful. Our President Barack Obama today said that top executives at companies receiving financial assistance from the tax-payers cannot be paid more than $500,000 per annum. A long overdue reform, if you ask us. Obama Screws Greedy Execs Folks, it’s the greedy and incompetent executives of Wall Street that have brought the country to […]
Yes, we think Motorola co-CEO and the CEO of the company’s Mobile Devices unit Sanjay Jha has no hope. This morning, Motorola announced its Q4 results and they are UGLY. Motorola reported a loss of $3.6 billion ($1.57 per share) on sales of $7.1 billion in its fourth quarter ended December 31, 2008. Following the […]
ITI Ltd, easily one of the most incompetent Indian public sector units, put out its begging bowl and the Government of India has given it Rs 125 crore in the form of an interest-free loan. The Bangalore-based ITI, with units in other parts of the country, is in dire straits and not in a position […]