In the Hedge Fund blow up costing the bank $8 to $10B in losses. Stankey and Stevenson can call Lara Warner and tell her that is chump change and that they have her covered 25X over in costing ATT shareholders $200 to $250B with T-Mobile, Direc TV, and Time Warner.
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Well, for years under Whitacre (about 25 years) no one, ZERO - received raises. That is except for the executive level of SBC or T and with all of the no raise savings Big Ed bought telcos and put those 1E, 1A, SXS, #5xBar and some DMS, 5E switch companies serving LL's back together. What a waste of money - running the stock price up to $59. This has not been a viable investment since....well.....Zane Barnes? 1970's?
The day Stevenson became CEO the share price was $39.47.
Thirteen years later, on the day his right hand man, Stankey, became CEO the share price was $30.23.
How are you feeling after 9 months of Mr. Stankey's leadership - first time in 30+ years no dividend increase, 30% stake in DTV sold for pennies on the dollar, post retirement benefits being sh*t canned, Warner Media is a cash drain, and now given your former CEO and CFO multi-million dollar consultancy contracts so they can assist in cleaning up mess they left behind.
Share price is at $30.71. Well done Mr. Stankey.