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Old 11-28-2007, 04:26 PM
 
Location: Tennessee/Michigan
27,996 posts, read 46,373,100 times
Reputation: 19403

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Note to any of you CEOs out there who are negotiating departure packages: Make sure your options aren't mostly underwater before you exit the building.

Charles Prince, who on Nov. 4 announced he'll be leaving his post as chief executive of Citigroup (C, news, msgs) after saying the bank would need an additional $8 billion to $11 billion in subprime-mortgage-related write-downs, will be leaving with a pension, stock awards and stock options worth a total of $29.5 million, according to a regulatory filing. He's entitled to a year-end bonus currently valued at about $12 million. He also gets an office, a car and a driver for five years.

Bad CEOs who walked away rich - MSN Money
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Old 11-28-2007, 04:32 PM
 
Location: Hougary, Texberta
7,827 posts, read 10,358,944 times
Reputation: 9327
Just remember you don't get what you deserve, you get what you NEGOTIATE.

Good CEO, bad Board for agreeing to it.
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Old 11-28-2007, 08:37 PM
 
Location: in drifts of snow wherever you go
2,493 posts, read 3,063,564 times
Reputation: 692
They get paid to leave quietly.
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Old 11-28-2007, 08:53 PM
 
2,197 posts, read 6,593,924 times
Reputation: 1684
Because, oh, the things they could say...

I'm sure they won't want to accept their severance in stock options.
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Old 11-29-2007, 08:36 AM
 
48,898 posts, read 39,401,698 times
Reputation: 30554
I wonder how much they paid Ben Affleck and J Lo to "star" in Gigli? lol

There are also any number of pro-athletes that got 8-figure contracts and then bombed.

(The Knicks paid Allen Houston something like 20million to not play the last 2 years of his contract)

I really don't see how this is super big news except for the people that hate big companies and are willing to ignore the other examples to fuel thier sense of self-righteous indignation.
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Old 11-30-2007, 01:45 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
20,800 posts, read 37,476,508 times
Reputation: 20859
Carly didn't get enough ($16 mil) so took 1/2 of my retirement to Monte Carlo and 'doubled-down'. She also got my 32 yr career, 6 wks before retirement eligibility. But she's a great 'spin doctor' just listen to her on Fox Business News and you might be persuaded to do something drastic like Deutsch Bank and switch your vote in the 11th hour to enable her to buy a bankrupt computer company for $28B. Her and Michael Cappelas came out smelling real sweet, but it was Walter Hewlett who should have got the bonus...at least it would have been used in the family foundation for the betterment of some children's hospitals, not to re-carpet his yacht.

Life is too short to worry about those slime bags... move on
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Old 11-30-2007, 09:36 AM
 
5,640 posts, read 16,932,091 times
Reputation: 3963
Add edward zander of motorola to that list. He just announced his resignation this A.M. - it was a while coming. Don't think he will be missed.
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Old 11-30-2007, 11:14 AM
 
Location: Weston, FL and Vero Beach, Fl
2,945 posts, read 11,939,494 times
Reputation: 2057
For certain Zanders won't be missed and I am not too certain that his replacement is an ideal choice either.
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Old 12-03-2007, 11:15 AM
 
Location: Londonderry, NH
41,505 posts, read 49,566,735 times
Reputation: 24548
We need a 99+% income tax for clowns like this.
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