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7 million salary crazy
Fujitsu 100 (Blackstone) Schwarzman, president of the high price of up to 700 million U.S. dollars annual salary, and this corresponds to, since the 100 has been listed Fujitsu, he lost the original shareholders of 19 billion U.S. dollars
Staggering U.S. financial industry is re-staged the well-paid.
Private equity investment group, Fujitsu 100 (Blackstone) Schwarzman, CEO (Stephen Schwarzman) annual salary of 702 million U.S. dollars to become the United States in 2008 "workers", and is likely to play the leading role in the next few years.
Ironically, the 700 million U.S. dollars Schwarzman back pay is a "loss of life."
When the credit bubble as a result of a large-scale leveraged buyouts, the U.S. private equity industry (PE) carrying hundreds of billions of dollars of debt, payment of interest-ray has caused the collapse of many small and medium-sized companies the industry.
To invest in private equity funds of institutional investors such as pension funds, university endowment funds, family funds, and so on more live in fear, afraid to even think when the return on investment with interest.
The Fujitsu group of 100 shares are also listed at the beginning from 3.1 billion U.S. dollars fell to 13 U.S. dollars, the market value of the original investors have lost 19 billion U.S. dollars, in its IPO prior to 29.6 U.S. dollars per share in the large cast of company shares,浮亏has more than half of the book.
Beat all competitors
"I need is a battle, rather than some small conflicts." Schwarzman said often, "I often think that this kind of problem, and that is how to beat other competitors."
Schwarzman did not prominent background, he in 1947 was born February 14, Pennsylvania United States for an average family, the father is a businessman curtains. Some people believed that through the struggle to enter the top universities, is to change the entire fate of Shwartzman first step.
In 1965, Schwarzman to excellent results were at Yale University, the "honor" with a group of the United States and the world to master the future fate of the children of the wealthy to become students, for example, former U.S. President George W. Bush. They entered Yale the same year, living in a dormitory for the brothers will be the same members.
4 years later graduated Schwarzman entered Harvard Business School study once again with George W. Bush to become alumni. Schwarzman said to a prominent position at home, he placed the group photo with Bush. With the President of the profound friendship between the family, but also the public’s Fujitsu 100 was particularly interested in one of the reasons why.
With tens of thousands of business school graduates, like the financial sector Schwarzman began his career only difference is that he dared to show, from the unwillingness to admit defeat, progress is far more than other Wall Street people,
Lehman Brothers won the then-chairman Peter • Peterson’s trust and recognition. Carrying in his hand, the 31-year-old Schwarzman Lehman on the board in charge of global mergers and acquisitions department of a level to become Wall Street’s most promising young star. Schwarzman Peterson on the understanding and support them for the future co-founder of The Blackstone Group has laid a foundation of unshakable.
In 1985, Schwarzman and Peterson left with Lehman Brothers, in a small office set up a hundred Fujitsu Group, to two staff members, as well as hundreds of thousands of dollars started, all the way to beat numerous rivals. Several years later, 100 Shi-General description of the sensational style of business: In addition to the great dream, everything was negligible.
Leap forward with the IPO wealth
Servomex Group 100 2007 highs in the stock market listing, Schwarzman is really sure of the timing right, 4.7 billion U.S. dollars of the wealth of options allowing him to list a substantial leap forward, all the assets of Fujitsu in 1985 than when it appreciated the more than 28,400 times.
In 2006, private equity companies gathered almost all the wealth of glory than to become investment banks and fund companies to create more wealth in the local mythology. This year, Fujitsu 100 executives from five companies to receive up to 771,500,mlb,000 U.S. dollars of wages, including the Schwarzman and Peterson 398.3 million U.S. dollars of the 212.9 million U.S. dollars. In contrast, Wall Street investment bank in the winner was the highest-paid CEO Lloyd Blankfein Goldman Sachs 54 million U.S. dollars of income is quite shabby.
According to independent research released last weekend, Corporate Library’s "2008 American Enterprise CEO annual ranking of income" salary in 2008 exceeded 100 million U.S. dollars of the United States a total of seven executives who, in 2007 more than a four, and Schwartz Cayman pay second-bit Oracle CEO Ellison 145 million U.S. dollars higher.
100 Shi Group objected to this position, on the grounds that the 702 million U.S. dollars, including 699.8 million U.S. dollars Schwarzman stock options, as equity income from Fujitsu in 2007 listed 100, it is not in the strict sense, "the annual salary . "
In fact, the list of executives from the major sources of income return on equity, such as Ellison’s pay for 557 million U.S. dollars, 543 million U.S. dollars which is the return on equity.
List is a bold prediction, Schwarzman in the next few years will be among the top highest-paid managers. Fujitsu 100 2007 to 31 U.S. dollars per share initial public offering, the Shwartzman was 4.7 billion U.S. dollars worth of options, this option is now only a quarter of honor, while the remaining three-quarters will in the next 4 years the average payment.
But it is worth noting that, in the Shwartzman access to 702 million U.S. dollars annual salary in 2008, all full-year loss of Fujitsu Group as much as 1.33 billion U.S. dollars. Schwarzman had to give up the prize in 2008, only 350,000 U.S. dollars to receive a basic annual salary. Another founder of Peterson, in addition to the annual salary of 350,000 U.S. dollars, but also recorded no money, pay more than the 99 percent decline.
In this sense, perhaps, Fujitsu 100 "wronged" a little truth.
PE down the interest burden
However, in the top pay level of the top At the same time, private equity companies are not small problems.
Statistics show that private equity firm from 2005 to 2007 reached a total of about 1.6 trillion U.S. dollars of leveraged buyout, these companies are now using the exchange offer and debt repurchase and other measures to avoid default.
However, pension funds and endowment funds and other large institutional investors or private equity companies worried about the huge interest payments on the underlying debt. This increases the pressure on private equity companies, they need not wait to prove to customers that the investment of clients funds to even to get back with interest.
Fujitsu 100 investors may be relatively lucky. Earlier this month the company announced second quarter results show that, except with the IPO issued in 2007 and other related costs, excluding costs, Fujitsu 100 in the second quarter of this year’s profit of 180.8 million U.S. dollars, far beyond the expected to the outside world.
However, this level of profitability by the second quarter rise in global equity markets, the 100 part of Fujitsu’s sharp rise in value of investment projects. In the previous two quarters of operation, these asset prices caused by the shrinkage of up to 100 Fujitsu loss of 920 million U.S. dollars.
Schwarzman said at the investors meeting, private equity industry is recovering, he announced that about two-thirds of high-profile portfolio of EBIT will have positive or flat. Maybe it is for customers to prove their own value, Schwarzman said that with the improvement in the loan market, the company have access to attractive terms, to change the company’s capital structure, reduce the debt ratio,ugg boots, effectively "de-leveraged."
In fact, as early as this year’s Davos forum, Schwarzman on boasted: "Let the financial crisis such as Fujitsu 100 cash in hand ushered in PE investment in the spring, as the financial crisis in the asset bubble, financial assets less all around us now. "
Fujitsu 100 attack indeed everywhere. According to foreign reports, 100 Shi Group will acquire the UK’s second-largest real estate company real estate investment trust British Broadgate half of its stake in the amount of the transaction will be 150 million pounds.
Last week, all Fujitsu Group and Shanghai Pudong New District Government to sign the memorandum of financial cooperation will be established in the Pudong area of its first private equity fund of RMB – the Chinese development of Fujitsu 100 investment funds, fund-raising about 50 billion yuan.