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| Why can't I get fired like this? (181759) | |||
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Why can't I get fired like this? |
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Posted by orange blossom special on Thu Jan 4 11:37:13 2007 Okey, so CEO's don't really get fired. But the Home Depot CEO was supposed to be so abrasive that they couldn't get rid of him.Poor guy had to leave his job. He got $210million dollars Do you wonder how much every worker would get if that was split up in a bonus? Who the heck gets 210 million for anything? This is where the increased tax revenues come from, not increased production. From $7/hr to $210mil/year. Yea. He made $140/million working there since 2000. **** Corporate pay critics were prepared to cheer the abrupt departure of beleaguered Home Depot Inc. chief Bob Nardelli on Wednesday — but then they got a look at the bill. Nardelli, who was one of the nation's best-paid chief executives, will get a severance package valued at $210 million. That dismayed some corporate watchdogs who have seen a string of departing CEOs collect high-dollar payouts in recent months. "This board should be ashamed of themselves," said Nell Minow, an expert on executive compensation at Corporate Library, a research firm. "I would like to see several board members leave in acknowledgment of their utter failure." Atlanta-based Home Depot, the nation's biggest home-improvement retailer, gave no reason for Nardelli's departure, which it said was "mutually agreed" upon. Nardelli, however, had become a lightning rod for criticism on several fronts. Shareholder activists said he was a preeminent example of runaway executive pay, while investors saw the value of their Home Depot stock sink 12% in his tenure. One Wall Street analyst faulted him for an "autocratic" management style. ... Some experts said the timing indicated that the Home Depot board might have grown tired of the criticism directed at the 58-year-old Nardelli by shareholder activists, union leaders and pension fund managers. Nardelli was the only director to attend the company's annual meeting last May in Delaware, where he provoked critics by refusing to answer questions about his pay. .... Of course he's getting LIFETIME benefits too. LA Times |
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