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I feel bad for people who have to make such a huge change in lifestyle because that's got to be really hard. But, then again, it's hard to feel bad for people who just refuse to accept their situation. Sounds like a few of those people could have hung on for quite a while had they gone into survival mode right away.
It's pretty obvious why that bank CEO got canned just based on his performance after being let go. He sure wasn't worth the 200k he was getting.
The problem with as a 44 year old sitting around for 2 years is it doesn't look good on a resume unless you have some good explanation for it. Also demanding a severance package to be put in a contract after you've been clearly mooching off your last severance for 2 years is a sure sign you are a moocher and not interested in the job. $140,000 a year in Gillette, Wyoming is pretty good.
I think there are a lot of people earning above their belt, compared to their actual performance, and the great thing about a recession is it scrubs us clean of all that silly nonsense. Too many people turning up at 9, drinking their mochafrappavanillacrapiado starbucks, surfing the internet, taking a few meetings, LUNCH, more fiddling on the internet, call the wife, call the girlfriend, chat up sally down the hall, take a dump, grab a coffee, another meeting and then a drive home at 5 and you'd had a hard day.
The recession cleans us of pinheads like that and I can say I run into them often, but I noticed they have started to disappear recently.
I know one, my BIL, who worked for a particular kind of private investment company. He was making $150k a year to eat at $1000 dinners, write proposals no one reads, take lavish trips to find more investors to pay salaries, talk on the phone, etc. Well all that is gone now. He is in debt from living large and has no paycheck now.
It seems that the man being featured (Paul Joegriner) is likely to have a much harder time finding work after this story.
Who in their right mind would hire someone for that kind of money whose first concern is stability and severance? The head-in-the sand mentality of the last 20 months doesn't say much for stellar management skills either.
It seems that the man being featured (Paul Joegriner) is likely to have a much harder time finding work after this story.
Who in their right mind would hire someone for that kind of money whose first concern is stability and severance? The head-in-the sand mentality of the last 20 months doesn't say much for stellar management skills either.
I think probably everyone out there wants "stability" and I'm sure most employers get that. His issue though is it seems to all be about him and what he gets, not the service he provides to the employer in return.
Probably what happened with that guy is by hook or by crook, he landed a cush CEO job. Eventually his lack of talents was found out when business started going south and so he gets canned. I'm passing judgment when we don't know the whole story but usually where there is smoke there is fire.
The nice thing about a hard recession is that it does expose a lot of people that are not being productive. I recall recently one of my BIL's co workers got the sack. The company was aggressively cutting costs to stay in business and this guy played freecell and surfed the internet all day. They gave him a warning which he did not heed and hence got the sack. Was lucky to get 2 weeks severance.
Different companies that I visited in 2007 and prior, that I visit now, all the people that I had seen before spending their days playing grabass are all gone now.
What an idiot, joegriner ... that salary would have allowed him a pretty good living in Gilette.
But insisting upon a severance package up front with that credit union was giving them a clear message that he was more interested in planning for failure and departure than long term success. Wrong paradigm for Wyoming folk ....
What an idiot, joegriner ... that salary would have allowed him a pretty good living in Gilette.
But insisting upon a severance package up front with that credit union was giving them a clear message that he was more interested in planning for failure and departure than long term success. Wrong paradigm for Wyoming folk ....
Read up a bit more on Gillette and its local economy. The man is an idiot indeed for turning down a salary like that in a place where there are plenty of nice-looking homes available for less than $200K (at least according to realtor.com) and two of the main industries are COAL and OIL. He must be a crappy CEO indeed - and he must know it - if he's afraid of a layoff in a stable environment like that.
I'm not sticking you for this guy by any means because I wouldn't do what he's done but, you guys do realize that serverance packages for senior management are fairly normal. The idea is that it will take someone making 200K longer to find a new job than your typical employee. That said, after 2 years I would think he'd take this gig and keep looking for a better deal if nothing else. I'm not seeing his logic at all.
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