Wednesday, February 04, 2009

Money Perspective.

When I was a bike messenger one of the best runs to get was from a non profit who sent grant proposals to all of the rich people in town. As a messenger, I would get to pick up maybe 20 - 30 packages all from a single location. This is what an entire day would occasionally be. This was awesome financially and for the riding, as a lot of the wealthy people who lived in the city lived where I made 7-10 dollars per package.

One of the "in town" drops was to PNC CEO James Rohr. We delivered to him all the time. He was in 1 PNC. The routine there was to dial the extension, and hopefully be told to leave the package in the room with the phone, otherwise you had to sit and wait for somebody to come down and sign for it. Man did they take their freaking time to come down too.

Anyway, one time I dialed the 5 digit extension which I had memorized and somehow ended up talking to Jim Rohr. I said something along the lines of "Oh wow, I dont think that I should be talking to you, some lines must have crossed... anyway there is a package downstairs in the glass room for you." He seemed nice enough and thanked me and said goodbye. I will estimate that this took 1 minute of his time.

I had read earlier in that week that he received a 29,000,000 dollar yearly bonus that week.

Lets assume he worked everyday that year.

That means he made 79452.05 dollars every day.
Assuming he is putting in 10 hour days.
That means he made 7945.20 dollars per hour.
And for that minute I spoke with him, what was his bonus? This is per minute. You have probably just wasted a minute of probably your workday reading this far.

Anyway, HIS BONUS for that minute was 132 dollars.

What a world.


ridin at 4:20 said...

I know I didn't make $132 reading that. It's crazy to think what some people make. What do you do with all of it? It is cool when you meet someone, have a nice conversation with them whether it be at a gas pump, in-line someone or you end up becoming friends with them only to find out that they are so financially set it's crazy.

Yet, they are the most humble easy going likable people. In today's world, that's cool that people like that exist.

So I have to ask, where you in the movie Quicksilver?

I'm guessing messengers are a dying breed these days with all the technology. Kinda sucks.

ds said...

I think PNC received about $7.7 billion of taxpayer money from the recent bailout. Plus they got a boatload of public money to build their new offices a while back, if I'm not mistaken.

I'm glad I'm subsidizing this guy's fortune.

steevo said...

7.7b to buy out National City worth 5.5b, moving it up to like the 4th largest bank in the country.

I am not sure what all that means or dont full understand it or I would have griped some more.

Gold plated caviar.