A Losing Year at Countrywide, but Not for Chief

[moh malekpour]

http://www.nytimes.com/2008/04/25/business/25pay.html?_r=1&ref=business&oref=slogin

Countrywide Financial’s chief executive, Angelo R. Mozilo, realized $121.5 million from exercising stock options and was awarded $22.1 million of compensation in 2007, a year when the housing slump pummeled the nation’s largest mortgage lender.

The awards came in a year when Countrywide lost $704 million, its first loss in more than 30 years, and its shares declined 79 percent.

Mr. Mozilo, long criticized for his compensation packages, realized the option gains by acquiring and selling 4.92 million shares under a prearranged trading plan, Countrywide said in a filing Thursday with the Securities and Exchange Commission.

 

[Mountain Man]

It's also been a winning year for ones who have been tracking CW foreclosures and buying them.

 

[Terrel L. Shields]

who have been tracking CW foreclosures and buying them.

And hedge fund traders who shorted CW and the like when they saw that the housing downturn was inevitable and going to be a major bloodletting...