Sometimes
people are very envious. Just read the
article about TEVA:
There is nothing like compensation and
perks to irritate shareholders. Consider Phillip Frost, who is chairman of Teva
Pharmaceuticals and is scheduled to receive a 75 percent increase in salary,
which would jump to $900,000 annually, as well as another $700,000 for using
his private jet. But there is more, Globes reports shareholders are also being
asked to approve an additional $298,000, which would bring his travel expenses
in 2011 to $1 million.
The increases are part of a move to boost
director salaries by an average of $76,000 a year, to $190,000, plus another
$500 for every board meeting, which would actually be unchanged from previous
years. The general shareholder meeting is scheduled for next week, but Platinum
Investment Portfolio Management ceo Gabi Haber sent a letter to Teva directors,
arguing they should not raise their salaries or approve Frost’s travel expenses
by his private jet, Globes writes.
I think
that there is nothing wrong with loving to fly. Not just to fly but do it with
your own jet! Just the only idea to use your own jet is extremely sexy! Just to
have a possibility to answer to the question of your girlfriend “What are you
going to do tomorrow?” – “Well, I guess I will make a swing with my jetto to
Teva’s board meeting, then I’ll call you…”
Is it not awfully business-macho-style-sexy? I think I can understand Mr Gabi
Haber. And for those who are very envious and criticize him – just look at the
picture and compare his modest demands with other CEOs!
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