Take a look at the top denizen of Kansas City's 1% ruling class scoring a major victory today . . .
KC Biz Journal: Kemper survives another challenge to his UMB leadership
Money quote . . .
"Although nepotism is not illegal, the proponent deems this much nepotism as distasteful, impractical, and an unsound practice," the shareholder wrote in the proposal. "He believes an independent chairman would end these practices."
UMB Financial's board of directors recommended voting against the measure, saying that 10 of the 13 directors on the board are independent . . .
"The Board firmly believes that UMB's shareholders have been well served by the existing governance structure, by the leadership of Mariner Kemper as Chair and Chief Executive Officer, and by a core tenet instilled in UMB by Crosby Kemper Jr. and now Mariner — to do what's right, not what's popular," the board wrote in the proxy statement."
More winning: "Mariner Kemper is the highest-paid employee at UMB Financial, earning $3.03 million in total compensation in 2014, up 10.1 percent from 2013."
Think about this one while extolling the virtues of hard work.
Developing . . .
The most salient thing in Baltimore isn’t the damage caused by protestors, but the grinding poverty and neglect wrought by capital.
ReplyDeleteAn excuse hiding behind a rationalization.
DeleteSteve Jobs' shoeshine guy made that much.
ReplyDeleteRegardless if you like it or not, the Kempers ARE Kansas City and Mariner is just the latest incarnation. This is a fine family, who's main interests (besides making a fair buck) have been the trade area of their banks. Throw rocks if you will, they are above reproach and are some of the finest people to ever call KC home..
ReplyDeleteCan you say "DADDYS MONEY"......
ReplyDeleteUMB "Bank" sucks. They are light years behind other banks when it comes to customer service. LIGHT YEARS!! In no way should this jackass be making 3M/year.
ReplyDeleteUMB "Bank" went to shit when they discontinued the 816-844 time and temp. BRING BACK THE PARTY LINE!!
ReplyDelete>Regardless if you like it or not, the Kempers ARE Kansas City
ReplyDeleteBut that doesn't matter at all. UMB is a publicly traded company. Once the Kemper family decided to cash out their initial investment the board is bound by a fiduciary duty to the shareholders to act in their interest first and foremost.
What are his qualifications, as someone who is under 40 to run a large diversified commerical bank?
Pretty much all local banks suck. Better to use a credit union, or a customer-focused bank like USAA. When was the last time YOUR bank sent you an annual dividend check?
ReplyDeletehow perfectly kansas city ... you build it, we'll steal it
ReplyDeleteUMB is the WORST bank I have ever dealt with. Awful customer service. Terrible technology. Why did I not stay? Because my money was better somewhere else. When your customers have choices why not invest in educations on all things customer service. Disheartening to have a company like this still out there. UMB 'Bank" what a joke..
ReplyDelete