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(CNBC)   You know times are slightly changing when JPMorgan investors tells Jamie Dimon to shove his $52 million bonus right back up his ass   (cnbc.com) divider line
    More: Amusing, Washington Mutual, JPMorgan Chase, Jamie Dimon, Credit card, Stock, David Rockefeller, Harvard Business School, Goldman Sachs  
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930 clicks; posted to Business » on 18 May 2022 at 12:49 PM (12 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



10 Comments     (+0 »)
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2022-05-18 12:56:15 PM  
While the results of the so-called "say on pay" vote are nonbinding, JPMorgan's board said it takes investor feedback "seriously"

So I am going to ahead assume the board is going to take investor feedback so "seriously" that they are going to totally ignore it and unanimously approve the ridiculous bonus.
 
2022-05-18 12:59:46 PM  
Yeah, the fine print says the vote is nonbinding, so the board may look for other ways to slip Dimon the money, or just say fark you, shareholders.

Anyways, I submitted this with a less vitriolic headline, my game is slipping.  Kudos, subby.
 
2022-05-18 1:27:06 PM  
How is it that you can take a matter to the shareholders, but have that vote result be non-binding?  I get the reality that the shareholders sole direct authority is that of electing directors, but shareholders approve other transactions on a binding basis.  Shouldn't any measure voted on by shareholders, by default as well as by law, be binding?
 
2022-05-18 1:49:37 PM  
JPMorgan investors tells Jamie Dimon to shove his $52 million bonus right back up his ass

So he gets to keep it then?  Dirty money still spends right?
 
2022-05-18 2:26:31 PM  
$52 million is a lot of ass pennies.
 
2022-05-18 2:36:08 PM  
"it was meant to be a one-time event"
Sure, one time every year.
 
2022-05-18 2:50:43 PM  
Jamie Dimon has been the main Rich Asshole behind "Why It Would be Bad to Inconvenience Rich Assholes" op-eds and TV hits for 15 years - it's not surprising at all that shareholders don't like him going on TV every few hours to make the rest of them (and JPM) look bad.

// which is also why Some Other Rich Asshole got 80+% approval for the same damn thing
// also, not like JPM won't give him the $54 million anyway - why, if they don't they'll lose his incredible talent for sticking the company's dick in the public opinion guillotine to some other bank!
 
2022-05-18 2:52:48 PM  
If he shoved it up his ass he'd still be walking away with it, maybe a little slower than he normally would...
 
2022-05-18 3:31:20 PM  

hammettman: Yeah, the fine print says the vote is nonbinding, so the board may look for other ways to slip Dimon the money, or just say fark you, shareholders.


They gave it to him last year.

But just this one time. But they promise not to give him this particular $52M again.
 
2022-05-18 5:38:54 PM  
"The bonus, in the form of 1.5 million options that Dimon can exercise in 2026, was designed to keep the CEO and chairman at the helm of JPMorgan Chase for another five years."

So it's not $52M. Could be more, could be less, and it's worthless to him for 5 years. Not that much of a bonus.

Besides, how could he need more money? "Including the retention bonus, Dimon's pay last year was valued at $84.4 million." That's $32M base just for one year alone. I don't think he'd notice $52M 5 years from now.
 
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