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article imageMorgan Stanley's Mack Gets Record $40 Million Bonus

By bobSP     Dec 15, 2006 in Business
Morgan Stanley gave Chief Executive Officer John Mack the biggest bonus for the head of a Wall Street firm, awarding him $40 million as the company headed for the best profit in its 71-year history.
Mack was granted stock options worth $40.2 million on the 12. The information was filed with the U.S. Securities and Exchange commission. Morgan Stanley also granted more than $57M in bonuses to 7 other executives.
Morgan Stanley's stocks have risen 43% this year alone, bringing the firm's market value to $86.6 billion. (Wow)
The board said that he had 'righted the ship' and that he was the reason behind such a record increase in their value.
Well I should hope he was behind it..$40 I guess he's benefiting handsomely from the recently Bullish market..
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