CEO Golden Parachutes turn into Platinum Kisses - now topping $100 million

[cyberpj]

CEOs' exit packages blow past $100 million
November 8, 2011
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.


http://www.delawareonline.com/article/20111108/BUSINESS06/111108022/CEOs-exit-packages-blow-past-100-million?odyssey=tab

[Octafish]

1. The 99-percent don't even get a lead ripcord.

We do get a gold boot to the seat of the pants on the way out the door, though.

[cyberpj]

2. I suggest a next Occupy movement could be to boycott these mega-corps when possible. nt

[Octafish]

5. Great idea.

The thing the turds run on is money. If we stop giving it to them by buying their, uh, stuff, we each help hasten the day when their profit margin is insufficient to continue operations.

Unfortunately, thanks to our representatives in government and the dead watchdogs in the press corpse, money finds other ways to accumulate in fewer pockets. Over the past 30 years, we've seen capital move from manufacturing to finance, further hastening the demise of the middle class.

Personally, I have boycotted most anything and everyone rich enough to advertise on the tee vee since 1974 -- with the exception of Clorox, Ford and a few personal hygiene products. Having little choice, political candidates from the Democratic Party I also have to hold my nose for and support

[RaleighNCDUer]

3. Can't the shareholders collectively sue the corporate management

for the squandering of corporate resources? Shouldn't those hundreds of millions be reinvested in the company and/or paid as dividends to the stockholders?

How can this possibly be a good business practice? How does the company gain by doing this? I just don't get it.

[cyberpj]

4. I've often wondered the same thing. I realize all the top players sit on each others' board of

directors so I assumed they all voted for each others' outrageous salaries and benefit packages.

It's another lie regarding paying "competitively" for "the best" management. But they never seem to be concerned with paying higher salaries for the best workers!