Greedy pig update

[Kenneth Mack]

And using the Heritage Foundation's "Bush Tax-cut Saving Calculator"
(http://www.heritage.org/taxcalculator/) Sanford Weill will save
$14,180,117.00 a year. This is 6.6% of his earnings. Compare this with
a head of household earning 40,000 with 2 children who will "save"
$1500.00 a year or 3.75% of her/his earnings.

For a head of household with 2 kids
Earning		Saving		%of Income saved

$20,000		$      0		   0%
$30,000		$  1,273		4.24%
$50,000		$  1,500		3.00%
$60,000		$  1,800		3.00%
$75,000		$  2,250		3.00%
$100,000		$  4,000		4.00%
$150,000		$  6,831		4.55%
$500,000		$ 22,747		4.55%
$1,000,000		$ 55,747		5.57%
$10,000,000		$649,747		6.50%

Ken

-----Original Message-----
From: owner-lbo-talk at lists.panix.com
[mailto:owner-lbo-talk at lists.panix.com]On Behalf Of Carl Remick
Sent: Friday, March 09, 2001 10:24 AM
To: lbo-talk at lists.panix.com
Subject: Greedy pig update

[From Bloomberg]

Weill Pushes Fearsome Five Aside

By Graef Crystal

Las Vegas, March 9 -- Ten days ago, I lambasted five chief executives
of
large, publicly traded Wall Street firms for earning a total of $154
million
in 2000.

Little did I know that three days later, I would discover that
Citigroup
Inc.'s Sanford Weill earned more than $215 million by my calculation.
That's
40 percent more than all the members of the "Fearsome Five" pay list
combined.

Or that Robert Rubin, Weill's consigliere, earned $54.5 million -- a
figure
47 percent higher than the $37 million going to Morgan Stanley Dean
Witter &
Co.'s Philip Purcell, who topped the earlier list.

[Full text:  http://www.bloomberg.com/feature/feature984155051.html]

Carl

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