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One Day After Retiring As Dallas Fed President, Dick Fisher Elected To Pepsi Board Of Directors
Former Dallas Fed president Dick "Feral Hogs" Fisher may be worried about a major correction in a market that is "hyper overpriced", and he may be confused and unable to grasp that the only reason "traders are lazy" is because the Fed's Chief Risk Officer has made risk, and selling, illegal but when it comes to finding sources of funding there are no conerns or confusion at all. Because promptly after he officially resigned from the Dallas Fed, on Thursday March 19, the very next day the board of Pepsi announced that "On March 20, 2015, the Board of Directors (the "Board") of PepsiCo, Inc. ("PepsiCo") elected Richard W. Fisher as an independent member of the Board, effective March 23, 2015. Mr. Fisher will serve on the Audit Committee of the Board, effective March 23, 2015."
From the press release:
Mr. Fisher, 66, served as President and Chief Executive Officer of the Federal Reserve Bank of Dallas from 2005 until March 2015. Previously, Mr. Fisher was Vice Chairman of Kissinger McLarty Associates, a strategic advisory firm. From 1997 to 2001, Mr. Fisher served as Deputy U.S. Trade Representative with the rank of Ambassador, where he oversaw the implementation of the North American Free Trade Agreement (NAFTA), the Bilateral Trade Agreement with Vietnam, and other trade agreements. During this tenure, Mr. Fisher was also instrumental in China and Taiwan joining the World Trade Organization. Mr. Fisher's experience also includes serving as Managing Partner of Fisher Capital Management, a Securities and Exchange Commission registered investment advisory firm, and Senior Manager of Brown Brothers Harriman & Co., a private banking firm. Mr. Fisher also serves on Harvard University's Board of Overseers.
Upon joining the Board, Mr. Fisher will receive compensation for new non-employee directors under PepsiCo's non-employee director compensation program. Under this program, upon joining the Board Mr. Fisher will receive an initial stock award of 1,000 shares of PepsiCo Common Stock and a prorated annual equity award equal to a number of phantom stock units determined by dividing $82,500 by the closing price of PepsiCo Common Stock on March 23, 2015. Each phantom stock unit is intended to be the economic equivalent of a share of PepsiCo Common Stock. In addition, Mr. Fisher is entitled to an annual cash retainer with the first prorated semi-annual payment of $18,333 to be made in June 2015.
And that's how it's done.
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like skull and bones and whoever else, they look out for their own
I wonder if he actually drinks Pepsi.
When signing up for your free healthcare on your way to the mandatory voting booths.....make sure to drink your Pepsi.....it's the law dammit.
You can run, Dickie-boy, but you can't hide.
Sucker didn't even show his teeth.
only usa call their guys " dick "
would be funny if france has some " monsieur anus " or " madame clitoris ".
or .... double dick pig fucker .... your comment from yesterday ?
Obviously a Coke guy. won't last past the parachute opening.
Nah, he is staying in the same line of work:
Peddling poisonous, addictive, black acid.
Audit Committee
WTF is that???
We want to hear the word 'audit' come out of his mouth. Good luck...
They are the ones who come out and tell you they don't need an audit.
If you are looking for connected Pepsico board members, look no further than board member Sharon Lee Percy Rockefeller She is the longest serving Pepsico board member, on since 1986. She is the wife of West Virginia Senator John Davison "Jay" Rockefeller IV. Her father was U.S. Senator Charles Percy. After Rockefeller was elected to the United States Senate in 1985, she became Chief executive officer of WETA-TV in Washington, D.C. She is a former member of the Steering Committee of the Bilderberg Group. Sharon's career really took off after she married Jay Rockefeller.
I always thought "Coke was IT" with these banker-types.
Pepsi & hookers?
I have an idea.....NEW Pepsi!!!
When the masses revolt.....we'll bring back Classic Pepsi.
Organic vanilla, the new pepsi.
Reportedly, Pepsi is good for "clearing the deck."
Pepsi, hookers and blew !!!
I wonder if he is replacing Peter Angler.
Did they send Britney Spears & Katy Perry to give him a blow job & seal the deal or was it just the easy paycheck?
Read a headline last night... 'Americans want lower taxes, more government spending, and legalized pot'... and I thought to myself that is the first thing I have read in a long time that actually makes sense...
I "retired" only to find myself driving a 13 ton truck part time while making freight deiiveries. Aside from the ginormous salary difference (Fisher gets nearly 200,000 dollars or 20 times what I make per year just to start and then 82,000 annually after that) the only other thing worth noting here- is that I am actually doing something useful.
I wouldn't call digging a hole to China, useful.
Point noted- except that while doing something useful- and since nothing in the world is manufactured here anymore- I just don't have a big say in the matter. I suppose I could contact our board of directors and ask that we only deliver American made products- where folks like Dick Fisher will laugh at me for being a douche bag. However, if you feel strongly about it, I can certainly give you the board's email addy.
They stopped replying years ago, were found guilty by a hangin judge, are on death row, and out of appeals, or better said, there future is not to bright.
Good for him and Pepsi! He is a talented and knowledgable guy. It's so funny that this is posted on ZH as a "negative" story. It just isn't so! The compensation for a board seat is peanuts as you can see. Hopefully he will get a few more of these -- corporate america needs people like him on the board.
Wow. The banker trolls are up early this morning.
He signed up with promise of working banker's hours......little did he know.
Things have changed.....a lot.
Soooo......if you're on the board of Pepsi......what do you actually do?
Oh I suppose he must meet once every three months before earnings reports to include the annual meeting where he will have to dress up, smile a lot, and gerry rig the balance sheet with stock buybacks while they talk about how much corn syrup they fed to the poor saps that drink that shit. Obviously the big news is that Pepsico will have the real FED minutes before the muppets get the cleansed version weeks later as reported by the cnbc cheerleaders. This may help directors and board members with individual stock purchases and sales. Unfortunately, Mayor Bloomberg will not be offered a seat on the board.
Good, who wants to throw hot potatos while sittin on a fire?
What do you do?
1. Approve stock repurchase program
2. Work with HR on layoff programs
3. Work with IT to outsource
4. Work on reducing benefits for the people left who
Pick up the functions of the layoffs.
5. Work with finance on large option distribution
For senior management.
6. Work with former contacts to push money
or right politicians.
As you can see he has a full plate.
Perhaps you missed the part where he gets an up-front award of 1000 shares of PEP. At $95/share, that's not bad for doing nothing. Not exactly the going rate for a single Hillary Clinton or Ben Bernanke speaking engagement, but not too shabby. But then again, being on board is about as taxing on one's time and talent as walking and chewing gum at the same time.
I don't understand the negativity about this story...he obviously didn't take this position for the pay. There are lot's of corporate CEO's that sit on multiple boards. It's a prestige thing.
Isn't the more important part of this story that he resigned from the Dallas FED?
See revolving door picture above.
I don't understand the negativity about this story...he obviously didn't take this position for the pay. There are lot's of corporate CEO's that sit on multiple boards. It's a prestige thing.
Isn't the more important part of this story that he resigned from the Dallas FED?
You noticed there is a sick socialist cabal .... here at ZH .... mind numbed robots !
Well look! A sick theiving fuckhead here at ZH of all places. So once you're in the club it should be ignored that you can just get paid for doing not a fucking thing? GTH
Mr Fisher, if you are going to whine about the content on ZH, can you at least do it with one comment box rather than two? We got it the first time.
The answer my friend is that corporate America will in fact love to have an insider with inside information gleaned directly from his cronies at the Fed. Corporate America, while certainly in need of cheerleaders like you, finds inside information rather useful when deciding whether or not to deploy capital or sell individual shares. Undoubtedly, Mr. Fisher will find himself on a few other boards- paid for with corporate skim off the top of the hard earned and invested savings of the muppets.
Sure, but that's only the tip of the iceberg. It's not only inside information, it's the network, i.e. the private phone numbers these people can dial. Ofcourse sensitive information is not spread over the phone, that is done in private conversations, at dinner while the bill is tax deductable. Never let a peanut go to waste.
I know you're trolling, but let me costner this response...
It might be worth looking into if the FED directly (or practically directly) purchased pepsi shares, either around the lehman crash when we know it was intervening (I recall harley davidson and mcdonalds shares, but i've slept since then; not that the FED ever stopped intervening) or any time before or after, during his tenure.
The standard shouldn't be impropriety, but the appearance of improriety... there are numerous professional certifications with this standard and it seems to work out fine for them (e.g. cpa).
Yeah, not only America but the whole world needs more people like Fisher being paid by the taxpayer for doing their job while they use this job to look for personal opportunities for big business, they should have been independent from...
Or did you just forget /sarc ?
Bottoms up! Here's to bottle fillers and printing presses making Americans obese in every way.
Americans make their own choices that make them fat, Pepsi, Coke or whatever has nothing to do with it.
That's like a Washington politician blaming US freedom for their theft of our tax dollars.
Clintons Tied to Shady Haiti Gold Mining Deal
Wait......what?
Yeah shady haiti, just around the corner from tim buck two.
Bill of Rights Always and ever from birth until they're dead. Slime oozes on.
While hawks looked to him as a shining light, in truth his actual dissent votes lagged his TV rhetoric, not likely because he was a secret center-dove, but instead to keep later options (career and stock variety) open.
So What! So he had a job lined up. He would be an idiot if he did not unless he was retiring.
OH yea, I'm sure he really left the Fed broke and needs a job. Come on.
Yet another banker troll this morning? Et tu Mr Comestain? Did they have a porn matinee get out early?
Arrest him and exile him to Somalia. Redistribute his stolen wealth.
Pepsi sucks.
Well of course the Fed is independent. Fucking Fisher is a former Californian and is a democrat. I'd like to punch him in the fucking face.
Smart move by PepsiCo. Once the Fed starts to directly purchase equities (like the Japs), PepsiCo will have a spot in line. This ass clown Fischer is paid to wait in line for the the tix a month ahead of them going on sale. You know, like Grateful dead tix.
a fed retiremen and an easy 20k/mo at pepsi. these fucking pigs dont have an ounce of shame. when i was a kid i never thought the system could ever be so corrupt.
You must be a democrat schooled math major.
"a fed retiremen and an easy 20k/mo at pepsi"
I'm detecting a reading comprehension problem.
"Mr. Fisher is entitled to an semi-annual cash retainer with the first prorated semi-annual payment of $18,333."
For the math challenged, that's $36,666/year.
For the math challenged? Holy fuck are we having a stupid convention this morning? Please re-read the last paragraph. Think of it as one of those old, word math problems. After you fully comprehend the compensation pkg and do the math-please smack yourself upside the head. I am going to go back to bed now before I am covered with dipshit.
You forgot the anual $82.5K in stock - so it's ~ $119k/yr + the $95k stock signing bonus. I didn't downvote you - I had to reread it to understand as well.
re-reread; there is a one time and then an ongoing prorata stock dividend
Thought all the FED gangsters only liked coke.
Well he didn't let the revolving door hit him in the butt on his way out, now did he?
Never drank even a 6 pack of Pepsi in my life. But I will be buying Pepsi stock today for sure. I want to be in the club.
It tastes like shit.
You joined the club .... twice .... each time you voted for .... Obama !
As a Fed Prez, he had plenty of experience peddling sugar-water...
After drinking sugar water .... colored with caramelized sugar (pure genius) .... and flavored with caramelized sugar .... you probably brushed your teeth with Zionist sugar paste ?
After the Federal Reserve their collecting their favors.
While at the Fed their working for the banksters and themselves. Setting themselves up for an even larger return.
Yogi, It looks like you ate too many picnic baskets and missed too many english classes.
Three form of the term 'there'
1. There: location - 'get the picnic basket over there'.
2. Their: possessive - 'give them back their picnic basket'.
3. They're: contraction for the words 'they are'. This is what you should have used whe you stated "After the Federal Reserve they're collecting their favors."
class dismissed
The guy has to make a living, right?
His comp pack is paltry .... a pittance .... I see a cash value was not assigned .... Clinton, on the other hand .... made millions upon retiring .... pandering politicians run the show .... not their serf bankers !
Take the spotlight .... off the Socialist power structure .... and shine it on the "Capitalist" bankers .... and the Zionist .... get real !
Commmies always did like Pepsi and Fascists Coke. I guess we know which side Comrade Fisher comes down on?
meaning of the word douchebag
The revolving door .... isn't that when corrupt socialist politicians .... get cushy jobs in the private sector .... then get elected again .... etc. etc. ?
It's a big club,and you ain't in it.
More of the overwhealming evidence of who run things in the FED and in the US.
Children who do not drink Pepsi will be taken from their parents and placed in the custody of Carl's Junior.
Dick Fischer KNOWS he has been stealing American citizens money to make his living. Time for prosecution and claw-back of assets stolen from American taxpayers.
The FED has been able to hide their theft in obscurity since they began. The internet has changed that, moar and moar Americans have found out the FED just skims dollars out of American taxpayer pockets.
Like KD says, time to stop the looting and start prosecuting.
Grimaldus
Well, you're right, except that your patron saint KD is a pretty big fucking looter himself. As well as a fucking hiprocrite.
Moar buy back!!!!
Too funny, and the beat goes on and on and on.
They don't even wait any more
From hawking (no pun intended) one sugary flavored water to another. Easy transition.
At least he had enough class to not go work at Wall Street.
Technically, there is no revolving door between government and corporation here, since the Fed is a private entity owned by a privately-held club of folks (and you ain't in it).
Whats the differanance between sugar money and honey?
Any Zero Hedge commenter should immediately stop drinking Pepsi and send an email to the company citing the recent appointment of this financial terrorist to its board as the reason why.
He's used being a part of an enterprise that produces and sells an addictive, nutrionally vacant product that induces obesity, osteoporosis and diabetes. Great fit.
Tyler- Fisher is going to make approx 120k a year as a Board member of a major corp. Big feckin' deal. Robert Rubin left his Secretary of Treasury job to collect $150MM from Sandy Weill at Citi after working to abolish Glass Steagal. It was a tough job for Rubin on the Board of Citi.
Harper Magazine has a good article on that on this month. Don't be lazy like the traders that Fisher mentions. Expose the real criminals not the minnows.
Good for Dick. I wish him the best.