Golden Parachute – for Loosers

WOW ! Listing here only a few of them: Exxon Mobil Corp. former Chief Executive Officer Lee Raymond tops the list with a $351 million payout.  Stan O’Neal, former CEO of Merryl Lynch – 161 million for his retirement/ousting, (after reporting a $2.24 billion loss and the biggest quarterly loss in the company’s 93-year history).  Stephen Elop, former CEO of Nokia – 25 million as a Good-Bye present. Mike Nafirovski, Nortel – 3.4 million (after having requested 12 million), in 2009, when stepping down from a bankrupt company.  Hank McKinnell of Pfizer – a whooping 213 million in 2006 after the company’s stock decline by 40%. Carly Fiorina of Hewlett Packard – 42 million after being forced out.
[NOTE. the above payouts in dollars slightly below or above, depending on the market sources.].
What do they all have in common ? They fucked up big corporations in their capacity as CEO or otherwise at the helm of those companies.
In contrast, compare that with any of the companies within the oil and pipeline industry in their relationships towards professional employees:
Following a takeover within that industry (which happened and still probably does happen frequently), a ‘Kick in the butt to hard-working professionals’ – ZERO cents. Message often was: “Walk out and go home”, especially to vulnerable groups of employees such as women or single mothers. Example: the likes of Trans Canada (TCPL, early 1980’s), and many more of that genre.
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