Archive for August 25th, 2005

The $37,000,000 Flip-off

I think a crucial point needs emphasis in regard to Michael’s account of the failing CEO who received the $37,000,000 severance package. The point is not the effect of that money on the economy as a whole, or even its direct effect on the company’s bottom line. The point is that it’s an egregious offense against justice, common decency, and common sense. Had the board of directors set out to find a way to communicate contempt to rank and file employees they could hardly have done it more effectively.

It’s also probably an offense against sound business practice, as it’s certainly hard to see how it benefits anybody related to the company other than the CEO himself, and possibly those who made the decision, who might hope for similar benevolence in their time of need. It doesn’t help customers or stockholders and certainly doesn’t help other employees.

I just don’t see how this kind of thing, which as we all know is very common, can be anything other than rich people helping themselves to more riches which they did nothing to produce or deserve. I mean, the guy probably already made multiple millions per year.

Maclin Horton

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