You might find this a little hard to stomach. here are the details. it s an oil drilling company. it s giving its chairman $100 million in cash. it is a severance style deal. here s the catch. the 81-year-old isn t actually leaving the company. he s been chairman and ceo since 1987 and nabors is promoting 57-year-old anthony patrillo to become the ceo. izenburg is staying on as chairman. the $100 million label is as a result of the change in responsibility. the problem is it is also higher than the company s third quarter net income just over $74 million. what about the stock down 19% this year? that would make him by my calculations one of the highest paid but also in terms of shareholder value, one of the worst performing u.s. execs. so quite a story for people to chew on. unbelievable. cnbc s mandy dury, thank you. richard ingle is back from an unprecedented trip to syria where he secretly crossed the
Donate money to something. in one case according to the new york times, mr. rangel s committee helped preserve a tax loophole for an oil drilling company that pledged money. even if it wasn t money he himself was after, you can make a case it was influence and he was also censured for accepting several rent stabilized apartments at prices far below market value, apartments designed for residential not office use. mr. rangel denies any wrong doing. those apartments are meant for people with low incomes. if rangel was using those apartments and got them because of who he is, then actually deserving people were not able to use them. then there s the dominican republic. here he is enjoying a moment on the beach. the congressman failing to disclose rental income on this villa as required by congress. he filed amendments only after the ethics committee began investigating him. now the congressman has blamed sloppy bookkeeping and that may be but it may also be an excuse. remember, this was the guy writing tax law and he can t
Companies or individuals to donate money to something. in one case according to the new york times, mr. rangel s committee helped preserve a tax loophole for an oil drilling company that pledged money. even if it wasn t money he himself was after, you can make a case it was influence and he was also censured for accepting several rent stabilized apartments at prices far below market value, apartments designed for residential not office use. mr. rangel denies any wrong doing. those apartments are meant for people with low incomes. if rangel was using those apartments and got them because of who he is, then actually deserving people were not able to use them. then there s the dominican republic. here he is enjoying a moment on the beach. the congressman failing to disclose rental income on this villa as required by congress. he filed amendments only after the ethics committee began investigating him. now the congressman has blamed sloppy bookkeeping and that may be but it may also be an excuse.
Let s talk about the facts. some of the counts were related to his using his office as a powerful congressman to raise money for a school at city university of new york named in his honor. why is that wrong? well, the question is is it really appropriate for a member of congress to be suggesting or even appear to be pressuring companies or individuals to donate money to something. in one case according to the new york times, mr. rangel s committee helped preserve a tax loophole for an oil drilling company that pledged money. even if it wasn t money he himself was after, you can make a case it was influence and he was also censured for accepting several rent stabilized apartments at prices far below market value, apartments designed for residential not office use. mr. rangel denies any wrong doing. those apartments are meant for people with low incomes. if rangel was using those apartments and got them because of who he is, then actually deserving people were not able to use them. then there s the dominican republic.
that was congressman rangel today. no, he did not have sex with minors as some other censured congressmen have, nor did he curse anyone out, but he was found guilty of 11 counts of misconduct. let s talk about the facts. some of the counts were related to his using his office as a powerful congressman to raise money for a school at city university of new york named in his honor. why is that wrong? well, the question is is it really appropriate for a member of congress to be suggesting or even appear to be pressuring companies or individuals to donate money to something. in one case according to the new york times, mr. rangel s committee helped preserve a tax loophole for an oil drilling company that pledged money. even if it wasn t money he himself was after, you can make a case it was influence and he was also censured for accepting