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Golden Parachutes Should Be Made of Lead
Oct 31
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?
About the Author
Frank Roche
Frank started IFRACTAL over 7 years ago with Sarah Chambers. Together, they've created HR communications and HR software for some of the world's leading companies. Frank is also studying Flamenco guitar and origami.
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Maybe this crazy trend is reversing. Merill Lynch’s ousted CEO will receive no serverance!
http://www.thestar.com/Business/article/272091
Regards,
Michelle
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.
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…
If you work out how to get one of these please bottle it and send me a 6 pack!
Michelle, maybe there is some sensibility out there! Thanks for that link.