Comments on: It’s not all junk at IndyMac… http://www.footnoted.com/perk-city/its-not-all-junk-at-indymac/ Michelle Leder's guide to what's hiding in SEC filings Wed, 08 Sep 2010 20:38:26 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Michelle Leder http://www.footnoted.com/perk-city/its-not-all-junk-at-indymac/comment-page-1/#comment-3441 Michelle Leder Tue, 25 Sep 2007 14:09:38 +0000 http://www.footnoted.com/perk-city/its-not-all-junk-at-indymac/#comment-3441 Thanks, David. We also covered the situation at Luminent and probably should have linked to it in the post. The link is <a href="http://www.footnoted.org/subprime-mess/not-very-illuminating/ rel="nofollow">here</a>. Thanks, David. We also covered the situation at Luminent and probably should have linked to it in the post. The link is here.

]]> By: David J Phillips http://www.footnoted.com/perk-city/its-not-all-junk-at-indymac/comment-page-1/#comment-3440 David J Phillips Tue, 25 Sep 2007 04:17:41 +0000 http://www.footnoted.com/perk-city/its-not-all-junk-at-indymac/#comment-3440 Michelle: Non-performance compensation is not just limited to Named Executive Officers at IndyMac. For example, in an SEC filing on August 31, mortgage lender Luminent Mortgage (LUM) disclosed that it agreed to pay retention bonuses of $1 million to President and CEO S. Trezevant Moore Jr., and $750,000 to Senior Vice President and Chief Financial Officer Christopher J. Zyda--for just the fourth quarter of fiscal 2007--in addition to salaries of $500,00 & $375K, respectively! http://10qdetective.blogspot.com/2007/09/its-rich-mans-world-at-luminent.html Sadly, Boards continue to reward executives for past behavior that lead to the dislocation of risk in the monitoring of residential mortgage originations and the dissolution of shareholder equity. Best, David J. Phillips, Publisher www.10qdetective.blogspot.com Michelle:

Non-performance compensation is not just limited to Named Executive Officers at IndyMac. For example, in an SEC filing on August 31, mortgage lender Luminent Mortgage (LUM) disclosed that it agreed to pay retention bonuses of $1 million to President and CEO S. Trezevant Moore Jr., and $750,000 to Senior Vice President and Chief Financial Officer Christopher J. Zyda–for just the fourth quarter of fiscal 2007–in addition to salaries of $500,00 & $375K, respectively!

http://10qdetective.blogspot.com/2007/09/its-rich-mans-world-at-luminent.html

Sadly, Boards continue to reward executives for past behavior that lead to the dislocation of risk in the monitoring of residential mortgage originations and the dissolution of shareholder equity.

Best,
David J. Phillips, Publisher
http://www.10qdetective.blogspot.com

]]>