Tuesday, June 12, 2007

Cheap Labor On Wall Street

Financial Times reports:

"Blackstone co-founders Pete Peterson and Steve Schwarzman will together reap as much as $2.6bn from the US buy-out group’s initial public offering, the firm revealed on Monday in an unprecedented disclosure of its compensation details."

It's amazing the kind of chump change people will work for:

"In Monday’s filing with the Securities and Exchange Commission, Blackstone said Mr Schwarzman earned $398.3m in salary and gains from investments last year, while Mr Peterson earned $212.9m and Tony James, the chosen successor to Mr Schwarzman, earned $97.3m."

I'd have to quit eating to buy gasoline...

1 comment:

KISS said...

As I have often said " Poverty should be a capitol offense" And the poverty levels should be increased two-fold.[ unless you will work for cheap]