Robert Toll is Still Dancing
Originally Published In the News March 12, 2008 3:05 PM
The housing bubble was good to many people, particularly Robert Toll. He fueled the flames, telling people how great the housing market was while unloading hundreds of millions in stock.
But he needs more money to stick around:
A controversial bonus package for the chief executive of Toll Brothers Inc. was approved by shareholders Wednesday despite heated opposition from a labor union and proxy-voting firms.
With home-builders’ businesses in shambles and their shares down sharply during the housing bust, some critics say executive pay and performance have gotten out of whack. A union and several proxy-advisory firms urged shareholders of Toll Brothers Inc. to withhold support for the chief executive, Robert Toll, and a proposed bonus plan at the luxury home-builder’s annual meeting Wednesday. MarketWatch
Toll should work for $1 a year and fix the mess he helped create; his pronouncements over the housing market were among the most outlandish we witnessed during the bubble.
Disco Inferno Burns Housing Bears
You don’t have to buy Toll’s stock, and if you own it you can always vote with your feet.
Toll CEO’s bonus plan draws fire, but passes
Marketwatch
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