Jessica Hagy knocks it out of the park again on her brilliant Indexed. Her Golden Parachhutes Make for Wild Rides is sad, but true. How sad is it that big money is sometimes paid out for big mistakes?
Support this post around the web. We would really appreciate it.
KnowHR Blog serves up straight talk about human resources. We like simplicity in language. We believe that people really want to do a good job, that there are ways to create motivation, and that communication is at the heart of it all.
KnowHR is a product of iFractal LLC, which provides organizational communication consulting to some of the leading companies of the world.
Michelle Malay Carter
Oct 31st, 2007
Maybe this crazy trend is reversing. Merill Lynch’s ousted CEO will receive no serverance!
http://www.thestar.com/Business/article/272091
Regards,
Michelle
albert
Oct 31st, 2007
I don’t understand how these ‘golden parachutes’ work. The idiots, and I use that term fondly, at the top keep getting richer and hired for more top spots. If I had a company and a guy takes the blame for a $2.3B loss in Q3, I don’t give him $161M as the door hits his ass on the way out. Merrill’s CEO took in $160M in the last 5 years before getting this $161M parting gift.
Frank Roche
Oct 31st, 2007
Albert, it’s one of the great mysteries of the universe. Being responsible with shareholders’ money is paramount…so I don’t get what happens. How in the hell, actually…
Scott McArthur
Nov 1st, 2007
If you work out how to get one of these please bottle it and send me a 6 pack!
Frank Roche
Nov 2nd, 2007
Michelle, maybe there is some sensibility out there! Thanks for that link.