American Home Mortgage VP Gets $1.8 million as Thousands Lose Jobs

American Home Mortgage (AHM) lost $42.8 million in 20 minutes in recent trading and over 7000 jobs are at risk of being lost.

But its all good for AHM’s executive vice president and chief investment officer Thomas McDonagh, he got $1.8 million in total compensation in 2006 and his annalu salary is $872,917!

American Home Mortgage is in crisis, thousands of employees could lose their jobs, but Thomas McDonagh doesn’t even have to face the music, he resigned from American Home Mortgage a day before the company’s stock price began to crash.

American Home Mortgage is its stock price fall 39 percent in pre market trading on Monday, before trading was halted by the New York Stock Exchange.

Do you think that its right that the company executive can get million dollar payouts and salaries even though their companies are going bankrupt?

The problems that American Home Mortgage is facing did not suddenly appear overnight, they have been around for a while and it is the duty of company executives like McDonagh is protect the company from these problems, not to take millions of dollars and then resign.

What do you think about the American Home Mortgage situation?

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