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JPMorgan's Dimon Gets His $23 Million Pay Package

Publication Date: 
May 15, 2012
Source: 
CNN - Money
Author: 
Charles Riley

Professor Dan Siciliano's prediction on the outcome of the JPMorgan Chase shareholder meeting following the banks $2 billion trading loss is quoted by Charles Riley from CNN Money.

Even as he apologized for a $2 billion trading loss, shareholders approved JPMorgan Chase CEO Jamie Dimon's $23 million pay package Tuesday at the bank's annual meeting.

The meeting comes just days after the bank disclosed the massive trading loss, an event that led to the departure of its chief investment officer and forced its CEO to repeatedly apologize for the bank's actions.

...

F. Daniel Siciliano, a professor at Stanford's Rock Center for Corporate Governance, predicted on Monday that "fireworks are likely to be modest" at the JPMorgan meeting.

That's because Tampa is an out-of-the-way location, and many shareholder votes have already been cast.

"In theory, people can change their votes on their proxy," Siciliano said. "But by and large, mechanically, that tends to not happen."