450SEL6.9

This must be the dumbest thing I have ever read. A friend from Asia sent an article to me. There apparently is a court case going on in Hong Kong that concerns an unbelievably expensive contract dispute for - get this, Latin dance lessons. The amount in question is $15 million U.S. I thought it was $15,000, but it is $15,400,000 ($120,000,000 HKD)

An executive at one of the banks filed a lawsuit against her celebrity/world champion dance instructor. She had a contract to pay him the equivalent of $15 million U.S. for dance lessons! $15 million US!

I think this is a crazy amount. The regional chairman and CEO of her bank only makes about $1 million U.S. per year. If she is pulling in more salary than her boss as head of the asset management division, then the bank's stockholders, which I am unfortunately one of, are footing far too big a bill for executives! The friend who sent me this article used to work at the bank's asset management desk, but he resigned with several other top bankers because they were peeved off about the bonus pool. Hmmm. . . He's probably wondering where his bonus went . . .

BMW_Dude

So what, is this $15 million an hour?

Sounds crazy, who would want to do latin dance lessons anyway!

450SEL6.9

I only know that it was a contract, BMW_Dude. It can't be an hourly figure though. Regardless, it is an extreme amount of money for dance lessons! I wouldn't spend $15 on a Latin dance lesson.

Seriously, I wonder if she'll be fired. I know of several merchant bankers who get themselves in the shit for splurging on expensive $50,000 dinners after a successful deal. They're only spending their own money, but it is still not accepted by some merchant bank bosses.