Jim Cramer’s Wall of Shame: Fortress Investment Group LLC (NYSE:FIG)
Jim Cramer made some changes to his “Wall of Shame” list of the worst CEOs. He removed C. Dowd Ritter, CEO of Regions Financial (NYSE:RF), after the company announced on Thursday that Ritter is retiring. Since Ritter has been CEO of RF, the stock has plunged 86% from $37.66 a share to $5.33. He told viewers it was unbelievable that Region’s board of directors kept him on after it was exposed that he used a corporate jet for a family vacation just a few days after the company took $3.5 billion in TARP funds. Due to Ritter’s departure, Cramer filled the empty position at the top of the list by moving up Wes Edens, co-founder of Fortress Investment Group LLC (NYSE:FIG). Cramer gave Edens the honor after his company announced it won’t pay a dividend for its sixth consecutive quarter. “Edens should take a cue from C. Dowd Ritter, and retire,” Cramer said. Get the scoop on tomorrow’s hottest trade ideas – TODAY! BeaconEquity.com PREMIER PICKS have an amazing track record. Join this select group and ride the profit wave!
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Jim, how about taking a look at Quinn J. Hebert for the Wall Of Shame. He is CEO of Cal DIve International (DVR). He gave himself a raise & increased the amount of stock options he could receive, ALL WHILE THE STOCK PRICE HAS TANKED!
So far as the leader of DVR the stock price has decreased from the $14.00 PPS to
around $5.00 PPS! Each year giving himself a large RAISE!