CEOs' exit packages blow past $100 million

[cyberpj]

Source: Gannett News - Delaware News Journal

snip-
The latest execs who will cash in as they step aside: Nabors Industries' former CEO, Gene Isenberg, due $126 million when he exits as chairman, and IBM CEO Sam Palmisano, due $170 million. They follow Google's Eric Schmidt, who received $100 million in stock after leaving as CEO.

snip-
Nabors Industries. Isenberg's exit deal calls for $100 million cash, plus $26.4 million in stock. Nabors says shares are up "50 fold" under Isenberg since 1987, but lag the Standard & Poor's 500 index the past decade. Moreover, Isenberg, 81, drew over $100 million in pay and bonus in 2008-2010 alone.

snip-
Google. The Internet search giant gave Schmidt $100 million in stock after elevating him to "executive chairman" even though Schmidt had an equity stake worth over $5.5 billion. As chairman, he could get up to $7.25 million a year.

snip-
Compensation consultant Alan Johnson of Johnson Associates notes that there are more platinum kisses coming, planted when the economy was robust and boards were under less scrutiny.



Read more: http://www.delawareonline.com/article/20111108/BUSINESS06/111108022/CEOs-exit-packages-blow-past-100-million?odyssey=tab|topnews|text|Home

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This is simply obscene.

There's no one on Earth worth these kinds of paychecks!

History will not believe what happened in this country and how it went down the tubes while the upper 1% laughed and toasted it with champagne.

[Scuba]

1. As I recall, IBM is shipping tons of jobs offshore. n/t

[cyberpj]

3. So maybe a next Occupy movement could be to boycott these companies? nt

[RUMMYisFROSTED]

2. AKA 2000 middle class jobs.

:cry:

[sarcasmo]

4. 100 million in cash could be how many jobs? Post the names and shame the Greedy.

[cyberpj]

5. They HAVE no shame. I say boycott the companies doing this, we have strength in numbers now with

Occupy movements - just proved that on Bank Transfer Day.

[OwnedByFerrets]

6. And you did what for this money, other than...

pay your workers less, work them harder and for more hours and charge the American people MORE for your product. Tell us why we shouldn't DESPISE you. Not that they care. We only exist as worker bees and numbers on a spread sheet.