Wednesday, July 30, 2008

Rich Man, Poor Man

It's not just the construction company Martinsa Fadesa that is seeking to avoid its creditors. The man behind that company, Fernando Martín has also applied to have himself declared insolvent. This might seem fair enough, if he was having financial difficulties, but Martín managed to earn the far from trivial amount of 85 million euros in 2007, more than the entire annual salary bill for the company. That's not including his earnings from Martinsa Fadesa where things were going so very, very well that each member of its board of directors had to be paid a minimum of 6.7 million euros. Now it seems he's spent it all and hasn't got a penny. Are there any millionaires reading this blog who can shed some light on this situation?

Via Moscas en la Sopa

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