lundi 8 septembre 2008

Wow...and all I got was 6 weeks notice and 6 weeks vacation pay for time I hadn't taken

But of course, I'm just a Web developer who left my former workplace with stellar references. I didn't mismanage an entire company, endangering the financial system of the entire country. If I'd done that, I'd never have to work again:

But even after the government seized the mortgage finance companies on Sunday and dismissed their chief executives, the companies’ outgoing leaders could see big paydays — a prospect that angers many investors, particularly because ordinary stockholders could be virtually wiped out.

Under the terms of his employment contract, Daniel H. Mudd, the departing head of Fannie Mae, stands to collect $9.3 million in severance pay, retirement benefits and deferred compensation, provided his dismissal is deemed to be “without cause,” according to an analysis by the consulting firm James F. Reda & Associates. Mr. Mudd has already taken home $12.4 million in cash compensation and stock option gains since becoming chief executive in 2004, according to an analysis by Equilar, an executive pay research firm.

Richard F. Syron, the departing chief executive of Freddie Mac, could receive an exit package of at least $14.1 million, largely because of a clause added to his employment contract in November of last year as his company’s troubles deepened. He has taken home $17.1 million in pay and stock option gains since becoming chief executive in 2003.


$9.3 million to get fired? Hell, I'll run a company into the ground for HALF that.

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