Sallie's dividend has risen at an average annual clip of 18 percent over the past ten years. And thanks to hefty helpings of stock options, Sallie's top executives have earned fortunes. From 1999 to 2004, just-retired CEO Al Lord -- now the lead investor in a group trying to purchase the Washington Nationals -- received total compensation of $225 million. New CEO Thomas "Tim" Fitzpatrick made $145 million over the same period.
To produce those sorts of numbers, a company usually has to be obsessed with the bottom line, and Sallie is certainly that (a big chunk of its executives' bonuses is based on Sallie's profits). As good as that may be for shareholders, a growing number of critics contend that those profits are coming at the expense of Sallie's other constituents: students and taxpayers.
"Sallie advocates policies we believe are frequently contrary to the interest of students," says Luke Swarthout, a higher-education advisor to the U.S. Public Interest Research Groups. He charges that Sallie used its political clout to shape new legislation that will increase the cost of student loans.
That classic capitalist dilemma: this is immoral, but really, really profitable!
16 comments:
Your writing is perfect and complete.
Very good written information.
The content you create has always caught my attention.
Thanks for taking the time to discuss this.
An incredible article dude.
I read this post your post is so nice and very informative post thanks for sharing this post.
There is something so peaceful and loving about your art.
I have been looking for sites like this for a long time. Thank you!
That's a great article!
This is a really good.
This is a wonderful article.
The best part of this blog is easy to read and informational.
Keep up the superb works guys I've included you guys to my blogroll.
Amazing! This blog looks exactly like my old one!
This is really impressive! thanks for share this awesome research!
I needed to see and read this post today and smile.
Post a Comment