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As a Incompetent worker would you be fired and leave with nothing or would you walk out with a full pocket of money?
Only in America can you do so badly as a CEO, or an executive leader of a corporation and walkout with a pocket full of money as stockholders take a loss. In China they would take them to court and then give them the death penalty if guilty of failures to lead a company this poorly.
Another CEO Stan O’Neal gets paid off to leave a corporation that he was part of that lost just under $10 Billion in the last quarter. O’Neal now no longer working for Merrill Lynch was able to find another job at Alcoa Inc.
Mr. O'Neal resigned from Merrill in October following a third-quarter net loss of $2.2 billion and $8.4 billion in write-downs. He was succeeded by John Thain, then chief executive of NYSE Euronext, who took over the top job at Merrill in December.
Mr. O'Neal was one of the highest profile casualties of a credit crisis that has also claimed former Citigroup Inc. Chief Executive Charles Prince, former UBS AG CEO Peter Wuffli and Bear Stearns Cos. CEO Jimmy Cayne.
Mr. O'Neal left Merrill with benefits valued at $161.5 million from various pension plans and stock grants. Under a noncompete agreement, he is prohibited from working with certain competitors for 18 months.
Duh, he worked HARD for that 161 million dollars! He EARNED it! If you want a 161 million dollar severence, pull yourself up and go find one of the many jobs that pay that well. Otherwise, you're jealous.
Some people fail to realize that when these CEO signed on for that position they get stock options up front as well as salary. So when they are ousted or leave when a company is failing they sell said stock for what the market price is or I believe the company buys back those shares. It's usually higher than what they got it for initially. So it's not as easy to just fire a CEO and have him walk out with a pink slip and a box with pics of the family, dog some pens and your stapler.
Why do people care so much about what others make?
Seems quite unseemly,almost like envy.
It's not jealousy. When companies slash workforce to "cut costs" and "increase profits".... and then a CEO for that same company rakes in millions as a bonus because of his "cost cutting measures" or as a severance, it's dispicable and shameful. The beauty of an amoral economic paradigm.
I think it is none of your business how much others make,that is between the employer and the employee.
What about for a publicly traded corporation, whose board of directors is subject to Federal law, has fiduciary financial duties, and is subject to the will of the corporation's shareholders?
What about for a publicly traded corporation, whose board of directors is subject to Federal law, has fiduciary financial duties, and is subject to the will of the corporation's shareholders?
Unless you are any of the above,it is still none of your business.
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