Jaime Dimon has big brass ones
Maybe if we had a few more CEO's on the street like this we wouldn't be in such sorry shape.
What can you really read into it though?Bob Steel bought 1 million shares of WB at about $16/share when he took over. I know JPM is completely different than WB - but, is it confidence or .....
Check this:http://www.sec.gov/Archives/edgar/data/19617/000122520809001690/xslF345X03/doc4.xml Maybe if we had a few more CEO's on the street like this we wouldn't be in such sorry shape.[/quote] How do you know he used his own money..These companies often give top guys a loan to buy stock..if the stock works they pay back the loan if not, they never make the guy pay it back..Often these things are for appearance sake.
I had some quick talks with him when I was at JPM… The guy is just that much better than most CEO’s… Willing to say what he wants when he wants with total disregard for people’s feelings… which sounds terrible, but I appreciate not being BSed… Would love to be in his crew(most of them have been with him forever(travelers,citi, bank one,) and they never leave…I remember when he took over JP Morgan, he slashed pay for mid level managers at JPMby over 50% in some cases... because they were making 4x what he paid people at Bank One... and X and O's guy..
I doubt his own capital is at risk. However, that “forgivable loan” that he probably got to buy the shares is, in reality, part of his compensation. So realistically, a large part of his compensation could evaporate with drops in stock value.