Earlier this week it was announced that Scott Wolstein would be stepping down as executive chairman of Developers Diversified Realty. This after the co-founder drove the company to a screeching halt with mountains of debt.
Scott Wolstein will take home $16 million in his departure — money that DDP said during a conference call with investors it will take on charge. The size of the package and Wolstein’s abysmal performance led one caller to speak his mind. Enjoy this bit, courtesy of Reuters:
“I just wanted to make it clear that we’ve actually discussed it here, and we think that it’s somewhat appalling that Scott is being paid such an excessive amount of money given the fact that he almost drove the company into bankruptcy,” Ben Williams, a director at Brookfield Investment Management, said on the call.
To you, Ben Williams, we say: huzzah.
This article appears in Feb 16-22, 2011.
This really cant be your whole Article!! You dont even tell a story here.. its just a half of an article with a quote from a phone call. If Scene ever wants to have a reputation with the people of Cleveland besides the one who sit around smoking pot, looking for concerts and escorts..it needs to get better than this! Your crappy Lil Cleveland free Magazine obviously knows nothing about the Company…not even the name since Vince the genius called it DDP! lmao And who the hell is Ben Williams to make any judment call! I have never seen or heard of him doing half of what the Wolsteins have done for this city and world! I cant believe how ignorant people and this magazine can be sometimes!
Sincerely,
Yoav
look at what that jackass did to the east side of the flats. I think Ben summed it up right