An unauthorized collection of the records of Alternate Energy Holdings, inc., its principals and subsidiaries, and their antics, trials, and tribulations

Former AEHI CEO Don Gillispie

Former AEHI CEO Don Gillispie
OK, everyone, I've got to step out for just a minute. I'll be right back, I promise!

Tuesday, March 1, 2011

AEHI's Stewardship of Unfrozen Assets: A Great Big Raise for the CFO

This just in from the "No Way! Shut UP! They did NOT!" department:

Alternate Energy Holdings, Inc. Filed an SEC form 8-K today announcing a new way to get rid of those remaining millions in the bank: a big fat raise for the Chief Financial Officer, from $0- to $180,000 per year.

On February 23, 2011, the Board of Directors of Alternate Energy Holdings, Inc. (the “Company”) approved an increase in the salary of Rick Bucci, the Company’s Chief Financial Officer, from $0 per month to $15,000 per month, to be retroactively effective as of February 1, 2011.

To summarize, AEHI will pay:

CEO Don Gillispie's salary:  $40,000 per month, $480,000 per year (still no 8-K on that, by the way)
CFO Rick Bucci:                 $15,000 per month, $180,000 per year.

to administer a company with a total revenue of $0.00 for four consecutive years.

Kind of makes one wonder what the Key Senior Executive Vice President is making now, doesn't it?

Whatever happened to "These fine men, working without compensation"?

Due out March 31:  What will probably be the most interesting annual report (10-K) in AEHI history.  Stay tuned!


  1. OMG, it never ends. It must be because the stock is worthless, they would have to issue eleventy-billion shares each month just to keep the CFO in underwear.

    So of course he should be making $180,000 per year to be the CEO of a dead company with no operations. Wow, Don, do you have a slot for me?

  2. A retroactive pay raise in addition to the now worthless shares of stock he received in the past. What next?!!! The judge is going to look pretty foolish when all the money is gone.

  3. While I still think this blog is laughable 99% of the time, this move has me scratching my head as well....