Word: arounder
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Dates: during 2000-2009
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...Citi, the controversy surrounding Hall's pay was about whether a bank that has received $45 billion in government assistance should be turning around and handing over big bags of cash provided by taxpayers, most of whom won't make one-tenth of Hall's annual salary in their entire lifetimes, to its employees. But now that Hall has left Citi, a larger question remains: Is anyone really worth $100 million a year, and what exactly do you have to do to deserve that much...
...paid is not. Hall had a pay package with Citigroup that guaranteed him a percentage of the profits of his group. Recruiter George Stein of Commodity Talent says it's normal for traders to get paid as a percentage of their division's profits. Most contracts guaranteed traders around 9% to 11% of their group's profits, before compensation. What's unusual about Hall is that he reportedly receives as much as 20% of his unit's profits, which sets him up for much bigger paydays than the rest of the Street...
Hall's success in calling the oil market is what has led him to demand higher pay than most. In 2003, Hall had the belief that the price of oil would rise dramatically in the next few years. Back then, oil was trading at around $30 a barrel, and coming out of a recession few thought prices would rise anytime soon. So Hall bought so-called long-dated oil-futures contracts that would pay off if the price of oil topped $100 at some point in the next five years. Because Hall made a bet oil would reach a price...
...Balloon Boy site] is exactly how I would have done it in 1996. There's a lot of nostalgia involved." Tech blogger Jason Kottke coined the "single-serving" moniker and listed some favorites in a 2008 blog post - a move that prompted a rush of new entries, Greenberg says. Around the same time, writer Mathew Honan created BarackObamaIsYourNewBicycle.com, a fanciful site listing all the considerate things the then candidate had supposedly done for you ("Barack Obama shoveled the snow from your walkway," etc.). The meme inspired numerous imitators and, like many popular Internet gags, is now available as a book...
...Mess Around with Dan Re Lev Grossman's review of Dan Brown's The Lost Symbol [Sept. 28]: To be a good read - and this was - a book doesn't have to be a literary masterpiece. Authors make things up in works of fiction. Anything that will get people to turn off the computer or TV is good, and this book will. Plus, far more people will read the book than will read your review. Clif Sellers, CHICO, CALIF...