“The institute was founded in 1991 by Michael Milken, a former Drexel Burnham Lambert banker who gained notoriety for significant financial success as a pioneer of “junk bonds” as well as his subsequent felony conviction and prison sentence for U.S. securities law violations.”
He’s seems like one of those shady ass business types that will run a company into the ground while trying to maximize his personal earnings before he skips town on a solid gold private jet.
Looking at the numbers given on Wikipedia is ludicrous.
“Milken’s compensation while head of the high-yield bond department at Drexel Burnham Lambert in the late 1980s exceeded $1 billion over a four-year period, a record for U.S. income at that time.”
That’s already nuts but then you look at the company’s financials and its even more insane.
Revenue: US$4.8 billion (1968)
Net Income: US$545.5 million (1968)
The guy was syphoning off a whole fifth of the company’s entire revenue for the last years of its existence before it went bankrupt.
You’re doing a terrible job on selling them as a grifter. They sound a lot like those 80s sociopathic investment bankers that buy companies and then gut the company and destroy lives to make more money.
At least a grifter has to work to get the grift going.
Sounds like a grifter.
He’s seems like one of those shady ass business types that will run a company into the ground while trying to maximize his personal earnings before he skips town on a solid gold private jet.
Looking at the numbers given on Wikipedia is ludicrous.
“Milken’s compensation while head of the high-yield bond department at Drexel Burnham Lambert in the late 1980s exceeded $1 billion over a four-year period, a record for U.S. income at that time.”
That’s already nuts but then you look at the company’s financials and its even more insane.
Revenue: US$4.8 billion (1968)
Net Income: US$545.5 million (1968)
The guy was syphoning off a whole fifth of the company’s entire revenue for the last years of its existence before it went bankrupt.
You’re doing a terrible job on selling them as a grifter. They sound a lot like those 80s sociopathic investment bankers that buy companies and then gut the company and destroy lives to make more money.
At least a grifter has to work to get the grift going.
I was thinking he was more of a Jack Welch more than a typical grifter really