G. Kennedy Thompson Securities and Exchange Commission, he will get a severance of $1.45 million and accelerated vesting of $7.25 million in restricted stock. Thompson had served the company for 32 years. Lanty Smith replaced Thompson as interim CEO. On July 10, 2008 Robert K. Steel, the former Treasury Undersecretary and Goldman Sachs Group Inc. executive, took over as CEO of Wachovia Corp. However, Wachovia only survived for two more months before it was forced to merge with Wells Fargo. While CEO of Wachovia in 2007, G. Kennedy Thompson received a total compensation of $15,653,559, which included a base salary of $1,090,000, a
Environmental credit crunch terms, the credit crunch comes about as finite resources are depleted significantly. The concept of an environmental credit is aligned to Earth Overshoot Day (Ecological Debt Day). Earth Overshoot Day is the point in the year at which the world economy moves from generating growth with renewable resources, to generating growth with non-renewable resources. After Earth Overshoot Day, humanity is dependent on environmental credit to sustain its standard of living. Currently just over a quarter of the year is spent living on environmental credit. The use of the term “environmental credit crunch” began to emerge as academics tried to highlight