The Wall Street Journal won't let up, at least when it comes to compensation paid to Merrill Lynch people in 2008. Today, the Journal reports that 149 people received compensation (cash and stock) of more than $3,000,000. Eleven received more than $10,000,000. One was paid $13,000,000 although the unit he ran had negative net revenue (that's right, revenue, not income) of almost thirty-six billion dollars; a recipient of $39,400,000 ran a unit with negative revenue of only $28.1 billion.
It is true that the stock component of this compensation is now worth a fraction of what it was. It's still a lot of money for a company that went bust.
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