Sometimes I wonder if I'm reading this stuff right. The former Merril Lynch chief executive Stan O'Neal is not only credited with putting the company in its worst financial straights in 6 years, but is being very very handsomely rewarded for having done so.
"Don't let the door hit you on the ass on the way out,"
"Oh, and here's a 9-digit retirement package to assuage your ego for your horrible performance."
What?
Here's the capper from the BBC article:
"Compensation expert James Reda told the Associated Press news agency that he wondered whether Mr O'Neal would have many regrets.
Mr O'Neal now has so much money that he would be "basically indifferent", speculated Mr Reda. "
Gee, you think he'd be full of regrets or indifferent... let me see.
Excuse me while my head explodes,
Bp
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2 comments:
yeah, this one had me sputterin' coffee - "indifferent" - as if at any point he had been even remotely "concerned" about the effects of his "leadership". . .
At least he didn't get a severence package. CEO pay is so out of whack it needs to be reigned in, but like so many things that need to happen it won't with this administration in office. 2009 can't come soon enough (I hope)
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