Friday, July 15, 2011

Now I'm A Farmer?

President Obama has appointed the Big Lug Nut to the board of directors of the Federal Agricultural Mortgage Corporation, known as Farmer Mac.

Culver will serve with another Iowan, Lowell Junkins who is Chairman.

Both continue "sucking the tit of the taxpayer" and the scientific community is united in that fact.

Culver will be compensated $24,000 in an annual retainer, $1,200 per day (plus expenses) for each Board meeting and committee meeting attended and $1,200 for meetings and conferences with borrowers, lenders and other groups.

In 2010, the Board of Directors held a total of six meetings. Each member of the Board attended 75% or more of the aggregate number of meetings of the Board of Directors and of the committees on which he or she served during 2010.

Plus there are stock options, with most directors receiving restricted stock awards in the amount of $50,008.

Most Directors total compensation was above $82,694 for 2010.

Last summer The Iowa Farmers Union (IFU) bestowed a "Friend of the Farmer Award" on Culver during his failed re-election bid (With Friends Like These).


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