Here's a great example of the "golden parachute" - and the WaMu CEO has only been on the job 3 weeks! I want that job......
http://money.cnn.com/2008/09/26/news/companies/fishman_wamu/index.htm?postversion=2008092613
I think business packages need to tie CEO or C-level compensation to the overall health of the company. If the company is struggling, so should the c-level employees. If the company is doing well - then I'm all for sharing the wealth, so long as it's shared throughout the company. I don't even mind the c-level executives getting millions IF the company is thriving, employees are being hired and compensated well and stockholders are seeing their wealth grow.
But - a 3 week tenure and 18 million in compensation for it? Just the fact that it's possible is absolutely ridiculous. Are taxpayers going to have to fund that, too?
Friday, September 26, 2008
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1 comment:
So maybe the plan should be -
Let's use his 18 million to help bail the company out!
Can we legislate something like that?
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