Thursday, November 20, 2008

Not Enough Bullets

This time, it's longtime CEO and founder of South Financial Group, who moved up his retirement date to preserve an $18 million dollar severance:
Meanwhile, corporate governance analyst Hodgson said that Whittle's deal -- nominally a retirement, but treated as a severance -- is all too typical of golden parachutes: "If you and I decided to retire, we might get what's left of our 401(k). But for some reason the rules seem to be different for executives. They get severance even though they're retiring. There's no logic to it at all."
These guys need to be tattooed with verses insulting Mohammad, and parachuted into a Taliban camp.

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