kallend 2,182 #1 May 11, 2012 $23.1 million in compensation for J.P. Morgan Chase CEO Shares of J.P. Morgan Chase slumped 7.8% after the blue chip banker said it has taken $2 billion in trading losses in the past six weeks, stemming from bad derivatives bets. The company said it could face an additional $1 billion in losses in the second quarter as a result of market volatility.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
davjohns 1 #2 May 11, 2012 Can you imagine how bad it would have been if that CEO wasn't there and so highly paid??? Thank goodness for overpaid execs! They could have lost some serious money.I know it just wouldnt be right to kill all the stupid people that we meet.. But do you think it would be appropriate to just remove all of the warning labels and let nature take its course. Quote Share this post Link to post Share on other sites
Southern_Man 0 #3 May 11, 2012 The group that suffered the losses is part of the bank's so-called corporate unit, and had been making trades designed to hedge against risk. Seems like that strategy didn't work out so well."What if there were no hypothetical questions?" Quote Share this post Link to post Share on other sites
davjohns 1 #4 May 11, 2012 Quote The group that suffered the losses is part of the bank's so-called corporate unit, and had been making trades designed to hedge against risk. Seems like that strategy didn't work out so well. I know it just wouldnt be right to kill all the stupid people that we meet.. But do you think it would be appropriate to just remove all of the warning labels and let nature take its course. Quote Share this post Link to post Share on other sites
rushmc 23 #5 May 11, 2012 QuoteThe group that suffered the losses is part of the bank's so-called corporate unit, and had been making trades designed to hedge against risk. Seems like that strategy didn't work out so well. CEO's make choices all the time (not defending or condeming this one) But in the utility industy there is some kind of hedge that can be made that can help a company reduce loss risk due to abnormal weather. It was used a few years in a row where I work and it made a big difference A couple of years ago it cost the company big time. As far as I know they do not use this hedge anymore But it paid off for many years I got to wonder if this may be similar and we are only getting part of the story"America will never be destroyed from the outside, if we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln Quote Share this post Link to post Share on other sites
airdvr 210 #6 May 11, 2012 Quote$23.1 million in compensation for J.P. Morgan Chase CEO Shares of J.P. Morgan Chase slumped 7.8% after the blue chip banker said it has taken $2 billion in trading losses in the past six weeks, stemming from bad derivatives bets. The company said it could face an additional $1 billion in losses in the second quarter as a result of market volatility. You a stockholder?Please don't dent the planet. Destinations by Roxanne Quote Share this post Link to post Share on other sites
weekender 0 #7 May 11, 2012 i do not care what someone else is paid. im not the jealous type. some here are obsessed with other peoples pay. i do think that JD should lose his job, though. he failed to manage. he signed off on a bad trade and should pay the price. in addition, he was very vocal claiming the gov't was overstepping their bounds by trying to regulate for this exact thing. he personally maligned Volcker, the man. well he proved them right and should get the boot for it. He probably will not. people still think he is great for how he handled the last crisis. i firmly believe your only as good as your last trade. his last was a bust, who cares what he did 2008 i say."The point is, I'm weird, but I never felt weird." John Frusciante Quote Share this post Link to post Share on other sites
shah269 0 #8 May 11, 2012 the key word in all this is this bets In the end, that's what it all comes down to, bets.Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay. The only thing that falls from the sky is birdshit and fools! Quote Share this post Link to post Share on other sites
rushmc 23 #9 May 11, 2012 Quote i do not care what someone else is paid. im not the jealous type. some here are obsessed with other peoples pay. i do think that JD should lose his job, though. he failed to manage. he signed off on a bad trade and should pay the price. in addition, he was very vocal claiming the gov't was overstepping their bounds by trying to regulate for this exact thing. he personally maligned Volcker, the man. well he proved them right and should get the boot for it. He probably will not. people still think he is great for how he handled the last crisis. i firmly believe your only as good as your last trade. his last was a bust, who cares what he did 2008 i say. I agree I do not care what he gets paid Even if I had stocks in that company One event does not a CEO define (unless it is the size of an ENRON fraud) As I have stated befor. Dat taught me that if I worried about what others made or had that I did not make or own, I would spend all me time worrying. I dont worry and, I say good for them Me?, well, I have not been willing to put in the time or effort that is required to reach that level (assuming I would even have the talent and I cant spell) But I respect those that have and do"America will never be destroyed from the outside, if we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln Quote Share this post Link to post Share on other sites
rushmc 23 #10 May 11, 2012 Quotethe key word in all this is this bets In the end, that's what it all comes down to, bets. The reward is commensurate to the level of the risk taken most of the time If he was hired to take that level of risk then he is doing his job He may have made that same bet many times before and come out ahead Do you know? I don’t, but I bet you can find out"America will never be destroyed from the outside, if we falter and lose our freedoms, it will be because we destroyed ourselves." Abraham Lincoln Quote Share this post Link to post Share on other sites
weekender 0 #11 May 11, 2012 Quotethe key word in all this is this bets In the end, that's what it all comes down to, bets. you are assuming that "bet" only means to gamble. as in a game of chance. it does not. look up the definition. I'm not defending this trader at all. But i am defending traders in general. they make decisions based on many factors. if they make money they get a portion. if they repeatedly lose money they get the boot. if it was just about chance then YOU could do it. i say that with a smile. i lose money a couple of months every year. i suck it up, tell my wife no pay this month and make it back. been doing it for 20yrs. if it was all chance why do i always lose at cards yet have lasted so long trading? thats rhetorical, fyi. its because its not a "bet" as you imply."The point is, I'm weird, but I never felt weird." John Frusciante Quote Share this post Link to post Share on other sites
lawrocket 3 #12 May 11, 2012 What's scariest about this whole incident is that the London Whale thingy was known of weeks ago and they STILL didn't manage to do anything about it. There's some confidence, eh? My wife is hotter than your wife. Quote Share this post Link to post Share on other sites
kelpdiver 2 #13 May 11, 2012 Quote$23.1 million in compensation for J.P. Morgan Chase CEO Shares of J.P. Morgan Chase slumped 7.8% after the blue chip banker said it has taken $2 billion in trading losses in the past six weeks, stemming from bad derivatives bets. The company said it could face an additional $1 billion in losses in the second quarter as a result of market volatility. what's the relation between last year's compensation and this immediate result? What's the breakdown on salary versus options? The stock took a dive today and will be reflected in his compensation this year if it holds. Weekender, I don't see how one is only good for their last trade...no CEO of a major financial would survive in such a world. The bigger picture remains that when the world went to shit, JD's company feasted on the dead, getting many carcasses for pennies on the dollar with federal backing to boot. Are you being clouded by a personal dislike for the person? Anyone happier to be an investor in Citi or BofA? Quote Share this post Link to post Share on other sites
kallend 2,182 #14 May 12, 2012 QuoteQuote$23.1 million in compensation for J.P. Morgan Chase CEO Shares of J.P. Morgan Chase slumped 7.8% after the blue chip banker said it has taken $2 billion in trading losses in the past six weeks, stemming from bad derivatives bets. The company said it could face an additional $1 billion in losses in the second quarter as a result of market volatility. what's the relation between last year's compensation and this immediate result? Negative. Execs in general are compensated for the performance they supposedly produce, when in fact chance has more to do with it than any skill of the exec.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
kelpdiver 2 #15 May 13, 2012 Quote Execs in general are compensated for the performance they supposedly produce, when in fact chance has more to do with it than any skill of the exec. Just about everyone is compensated based on past performance. It's very difficult to do on projected performance. And anyone remotely clued on investments knows the refrain - past performance may not dictate future performance. Now 8 months from now when we find out his 2012 compensation, let's revisit this subject. Quote Share this post Link to post Share on other sites
weekender 0 #16 May 14, 2012 QuoteQuote$23.1 million in compensation for J.P. Morgan Chase CEO Shares of J.P. Morgan Chase slumped 7.8% after the blue chip banker said it has taken $2 billion in trading losses in the past six weeks, stemming from bad derivatives bets. The company said it could face an additional $1 billion in losses in the second quarter as a result of market volatility. what's the relation between last year's compensation and this immediate result? What's the breakdown on salary versus options? The stock took a dive today and will be reflected in his compensation this year if it holds. Weekender, I don't see how one is only good for their last trade...no CEO of a major financial would survive in such a world. The bigger picture remains that when the world went to shit, JD's company feasted on the dead, getting many carcasses for pennies on the dollar with federal backing to boot. Are you being clouded by a personal dislike for the person? Anyone happier to be an investor in Citi or BofA? I suppose i was a bit aggressive demanding he step down. It might have been a bit personal, yes. I know that mgt signed off on this trade but they will keep their jobs while the traders will get the boot, most likely. That pissed me off. I am human and at times can over react out of emotion. I'm feeling better after the nice weekend."The point is, I'm weird, but I never felt weird." John Frusciante Quote Share this post Link to post Share on other sites
airdvr 210 #17 May 14, 2012 Looks like someone is starting to sit up and take notice. JPMorgan investment chief out http://money.cnn.com/2012/05/14/news/companies/jpmorgan-drew-retires/index.htm?hpt=hp_t1Please don't dent the planet. Destinations by Roxanne Quote Share this post Link to post Share on other sites
