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John Mack, the new chairman and chief executive officer of Morgan Stanley, told employees Friday he will no longer accept a guaranteed minimum of $25 million a year of pay, and instead will tie his compensation to the investment bank's performance.
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Of course this is cynical Sunday for me, but when people in business say they want to get paid for their performance or the performance of the company, that usually means they can do better than what is guaranteed. I'd like to find out what his performance based salary is a year from now.
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" In Canada, you can tell the most blatant lie in a calm voice, and people will believe you over someone who's a little passionate about the truth." David Warren, Western Standard.
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