Investing

America's Worst Directors--Gary M. Pfeiffer Of The Talbots

Gary M. Pfeiffer holds a remarkable number of important jobs on the board of directors of retailer The Talbots. He is chairman, head of the compensation committee, and a member of the corporate governance and nominating committee. He has been a member of the board since 2004 a period over which the The Talbots has gone through an unprecedented collapse of its business and economic fortunes. The firm’s stock has dropped over 80% during the last five years.

Matters at The Talbots have only gotten worse recently. Same-store sales for the period which ended on April 31 were down 7.7%. The figure is actually worse because it does not include stores which will be closed.

The Talbots posted a drop in revenue in the last quarter to $310 million compared to $321 million in the same quarter a year ago. The company only made $1.1 million. Comments about second quarter prospects sent the stock plunging.

Pfeiffer was on the board when Trudy Sullivan joined The Talbots as president and CEO in August 2007.  In light of his position, he was obviously key in her selection.

The compensation committee recommended and the board supported that Sullivan get a 2010 pay package of $6.3 million in 2010, much higher than in the previous two years. Pfeiffer made $177,000 for the same period.

Pfeiffer’s support of management and Sullivan large pay package is shameful.

Douglas A. McIntyre

The Average American Is Losing Their Savings Every Day (Sponsor)

If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.

Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.

But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.

 

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.