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Rich get Poorer

 
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jabailo



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PostPosted: Wed Aug 20, 2008 5:37 pm    Post subject: Reply with quote

http://www.nytimes.com/2008/08/21/us/21condo.html?ref=us

Downsizing in Los Angeles: From Mansion to $47 Million Condo
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jabailo



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PostPosted: Mon Sep 01, 2008 9:07 am    Post subject: Diddy: Less Money, More Problems Reply with quote

http://www.cnn.com/2008/SHOWBIZ/Music/09/01/people.sean.combs.ap/index.html?iref=mpstoryview

Quote:
Fuel prices have grounded an unexpected frequent-flyer: Diddy.

Sean "Diddy" Combs complained about the "... too high" price of gas and pleaded for free oil from his "Saudi Arabia brothers and sisters" in a YouTube video posted Wednesday.

The hip-hop mogul said he is now flying on commercial airlines instead of in private jets, which Combs said had previously cost him $200,000 and up for a roundtrip between New York and Los Angeles.
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jabailo



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PostPosted: Fri Oct 03, 2008 11:46 am    Post subject: Reply with quote

Sky high salaries crashing down to earth.

Owners ask: are you really worth it?

http://blog.seattletimes.nwsource.com/seahawks/2008/10/02/rocky_bernards_2.html
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jabailo



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PostPosted: Thu Dec 18, 2008 3:24 pm    Post subject: Free Market Comes to Boardrooms Reply with quote

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aodKWFxp0SHs

Quote:
Dec. 18 (Bloomberg) -- FedEx Corp. cut Chief Executive Officer Fred Smith’s pay by 20 percent and will trim smaller amounts from U.S. salaried employees as the package shipper struggles with the longest recession in a quarter century.



http://www.bloomberg.com/apps/news?pid=newsarchive&sid=alCvE.4reMiI
Quote:

Amkor, the provider of packaging and tests for semiconductors, said yesterday that CEO James J. Kim will have his salary sliced in half, while senior executives take a 20 percent reduction.

Western Digital, the world’s second-largest maker of hard- disk drives, cut CEO John Coyne’s pay a third to $600,000 and Chief Financial Officer Timothy Leyden’s salary a quarter to $412,500.
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jabailo



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PostPosted: Wed Mar 11, 2009 10:36 pm    Post subject: Reply with quote

http://dequalss.com/2009/03/12/forbes-rich-sumbich-list/#more-5806

Quote:
The richest people in the world have gotten poorer, just like the rest of us. This year the world’s billionaires have an average net worth of $3 billion, down 23% in 12 months. The world now has 793 billionaires, down from 1,125 a year ago.
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jabailo



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PostPosted: Thu Mar 12, 2009 9:09 am    Post subject: Reply with quote

Millions are no longer millionaires

http://money.cnn.com/2009/03/11/news/economy/millionaires_2008/index.htm?ref=patrick.net

Quote:
The number of American households with a net worth of $1 million or more, excluding the value of their primary residence, fell 27% to 6.7 million in 2008 from an all-time high of 9.2 million the year before, according to a report from market research firm Spectrem Group.
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jabailo



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PostPosted: Fri Aug 21, 2009 12:13 am    Post subject: Reply with quote

Reversal of fortunes as rich become poorer

http://seattletimes.nwsource.com/html/nationworld/2009702927_rich21.html

Quote:
But economists say — and data are beginning to show — that a significant change may be under way. The rich, as a group, are no longer getting richer. During the past two years, they have become poorer. And many may not return to their old levels of wealth anytime soon.
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jabailo



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PostPosted: Wed Sep 23, 2009 7:21 am    Post subject: Reply with quote

Giving Investors a Say on CEO Pay

http://www.time.com/time/business/article/0,8599,1729480,00.html?iid=sphere-inline-sidebar
Quote:

Investors this year have asked for so-called "say on pay" at some 100 companies, including Coca-Cola, IBM, General Motors, Exxon Mobil, Citigroup, Anheuser-Busch, General Electric and Wal-Mart. As companies hold their annual meetings throughout April and May, some 70 different institutional investors will be pushing to add an annual provision to let shareholders vote up or down on how companies pay their top five executives.
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jabailo



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PostPosted: Wed Feb 03, 2010 2:23 pm    Post subject: Reply with quote

http://www.rushlimbaugh.com/home/daily/site_020310/content/01125107.guest.html

Couric Faces CBS Populist Revolt

Quote:
...Katie Couric faces a 50% pay cut. [...] Right now she gets $14 million a year, plus a couple bumps for non-evening news appearances. But her salary is now in the direct line of fire, according to network insiders who explained this to the Drudge Report," and get this: "A populist backlash against Couric's cash is said to be forming inside the newsroom. 'She makes enough to pay 200 news reporters $75,000 a year,' says a veteran producer. 'This is complete insanity,' the angry source continues.
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jabailo



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PostPosted: Tue Mar 30, 2010 10:12 am    Post subject: Reply with quote

Rich Stunned by Recession Sell Munis for First Time: Joe Mysak

http://www.bloomberg.com/apps/news?pid=20601039&sid=aXHsUQsPsW0I

Quote:
The rich did the unthinkable. They sold municipal bonds. Fear of a second Great Depression and the crackup of capitalism trumped the allure of tax-exempt income and a historical default rate of less than 1 percent. U.S. Treasury notes and insured certificates of deposit became the new investments of choice for those with the most to lose.
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jabailo



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PostPosted: Sat Apr 03, 2010 9:28 pm    Post subject: Reply with quote

Bargain Rates for a C.E.O.?

http://www.nytimes.com/2010/04/04/business/04comp.html?ref=politics

Quote:
Equilar says the median pay package — the midpoint where half of the compensation packages on that list are lower and half are higher — declined by 13 percent last year, to $7.7 million. The average total pay tumbled by 15 percent, to $9.5 million.
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jabailo



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PostPosted: Sat Aug 06, 2011 6:09 pm    Post subject: Reply with quote

Carlos Slim Loses $6.7 Billion in a Week

Quote:
The Mexican billionaire’s stock portfolio, measured in U.S. dollars, has dropped about 9.5 percent since July 29 and is valued at about $64.4 billion, according to data compiled by Bloomberg. That compares with a 7.2 percent slide in the Standard & Poor’s 500 Index.


http://www.bloomberg.com/news/2011-08-05/slim-loses-8-billion-in-four-days-as-mexican-holdings-suffer.html
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jabailo



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PostPosted: Wed Aug 17, 2011 9:04 pm    Post subject: Reply with quote

Volatile Stocks to Leave Lasting Scars on Fund Investors’ Psyche

Quote:
The $12.2 trillion mutual-fund industry has historically been able to count on investors to come back to stocks after a significant selloff. They did so following “Black Monday” in October 1987, the Asian currency crisis in 1997 and Russia’s debt default in 1998. In the year after the 2000-2002 bear market, U.S. equity funds attracted $130 billion, ICI data show.

Funds that buy domestic stocks lost $98 billion in 33 straight weeks of withdrawals last year after the 20-minute plunge in May, ICI data show. They’ve had redemptions $74 billion this year. The latest withdrawal streak began in 2007 and didn’t end even as stock surged from their March 2009 lows.

“What we have seen this time is a much slower return to risk-taking,” said Francis Kinniry, principal at Vanguard Group Inc. in Valley Forge, Pennsylvania, the largest U.S. mutual-fund manager. He attributes the difference to falling home prices. In bear markets prior to 2008, residential property values were rising.

“There was significantly more wealth destruction this time around,” Kinniry said.


http://www.bloomberg.com/news/2011-08-18/volatile-stocks-to-leave-lasting-scars-on-fund-investors-psyche.html
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jabailo



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PostPosted: Fri Dec 16, 2011 10:50 am    Post subject: Reply with quote

H-P to Limit Severance Payouts for Ousted Executives
Quote:

The revised severance policy, disclosed in the technology giant's annual report filed Wednesday with the Securities and Exchange Commission, means any executive officer terminated without cause will have to leave behind restricted shares or options that aren't vested at the time they leave the company



http://online.wsj.com/article/SB10001424052970204844504577099023075898992.html
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jabailo



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PostPosted: Tue Jan 10, 2012 1:30 am    Post subject: Reply with quote

Wall Street Considers Pay Freeze on Some Bankers

Quote:
Wall Street’s biggest firms, facing a slump in investment-banking revenue, are considering freezing compensation levels for some junior bankers, according to people familiar with the deliberations.


http://www.bloomberg.com/news/2012-01-09/wall-street-firms-said-to-weigh-freezing-pay-increases-for-junior-bankers.html
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jabailo



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PostPosted: Tue Jan 17, 2012 11:38 am    Post subject: Reply with quote

How Ireland's Richest Man Went From $6 Billion To -$3.5 Billion

Quote:
Sean Quinn, once Ireland’s richest man, was declared bankrupt on Monday, Bloomberg reported. Quinn, whose fortune was valued at around $6 billion (4.7 billion euros) by Forbes magazine in 2008, owes the bank almost 2.9 billion euros ($3.5 billion).


Read more: http://www.businessinsider.com/sean-quinn-bankrupt-ireland-2012-1#ixzz1jkJyQgid
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jabailo



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PostPosted: Sun Mar 11, 2012 5:16 am    Post subject: Reply with quote

Quote:
General Electric Co. Chairman and CEO Jeffrey Immelt's compensation fell 24 percent in 2011 after it spiked in 2010.


http://www.huffingtonpost.com/2012/03/10/general-electric-ceo-jeffrey-immelt-pay-2011_n_1336637.html?ref=business
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jabailo



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PostPosted: Thu Mar 29, 2012 8:55 am    Post subject: Reply with quote

Billionaires behind bars!

Hong Kong Brothers Are Latest Billionaires Arrested

Quote:

The Kwok brothers are just the latest in a long line of billionaires and former billionaires to have big legal troubles. In January, Detroit billionaire Manny Maroun was thrown in jail for contempt for obstructing the law “once too often,” according to my colleague Joann Muller. He was only behind bars for one day. Other billionaires and former billionaires have not been nearly so lucky. Here are some highlights of those who are behind bars, those who may end up in prison and those that have done their time.

...


http://www.forbes.com/sites/luisakroll/2012/03/29/hong-kong-brothers-are-latest-billionaires-arrested/
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jabailo



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PostPosted: Sat Jun 02, 2012 6:11 am    Post subject: Reply with quote

World’s Richest Lose $24 Billion as Adelson Fortune Drops

Quote:
The world’s richest people lost a combined $24.4 billion this week as concerns over Spain’s rising borrowing costs and the sputtering American job market caused global markets to tumble.

Casino mogul Sheldon Adelson lost $2.2 billion. Shares of his Nevada-based Las Vegas Sands Corp. (LVS) fell 10.3 percent during the week. On Friday, Macau casinos reported gambling revenue rose 7.3 percent in May, its slowest pace since July 2009. Adelson, 78, is the 22nd richest person in the world, according to the Bloomberg Billionaires Index.


http://www.bloomberg.com/news/2012-06-01/world-s-richest-lose-24-billion-as-adelson-fortune-drops.html
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PostPosted: Thu Dec 27, 2012 11:29 am    Post subject: Reply with quote

Apple CEO's Pay Drops 99% on Lack of Stock Awards

Quote:
Chief Executive Officer Tim Cook will receive compensation for 2012 valued at $4.17 million, down 99 percent from a year earlier because of a lack of stock awards he received for 2011.


http://finance.yahoo.com/news/apple-ceos-pay-drops-99-115226395.html
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jabailo



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PostPosted: Wed Jan 16, 2013 11:02 pm    Post subject: Reply with quote

Dimon’s Pay Halved

http://www.bloomberg.com/news/2013-01-16/jpmorgan-halves-dimon-pay-says-ceo-responsible-for-lapses-1-.html
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jabailo



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PostPosted: Thu Aug 22, 2013 7:59 am    Post subject: Reply with quote

India’s Richest Man Loses $5.6 Billion as Rupee Stumbles

http://www.bloomberg.com/news/2013-08-22/india-s-richest-man-loses-5-6-billion-as-rupee-stumbles.html
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PostPosted: Wed Oct 16, 2013 10:12 am    Post subject: Reply with quote

Eike Batista, Brazil’s Former Richest Man, Loses More Chunks Of His Empire

Quote:
...Batista's fortune is now 0.5 percent of what it used to be...


http://www.ibtimes.com/eike-batista-brazils-former-richest-man-loses-more-chunks-his-empire-1426728
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