[OldManMac]

http://money.cnn.com/2005/02/12/news...ex.htm?cnn=yes

After six years of being unable to do much right, and being forced out by the board at HP, Carly Fiorina still walks with an obscene severance package, in addition to the millions she made screwing things up! Many people lost their jobs because of her mismanagement! This is the definition of obscenity!

Carly may get $42 million
Severance of $21.4M excludes another $21M in options, restricted stock and pension: report.
February 12, 2005: 4:16 PM EST

NEW YORK (CNN/Money) - Ex-Hewlett-Packard CEO Carly Fiorina will get a severance package worth about $21.4 million, but stands to reap another $21 million after she was forced out by the computer maker's board last week, a newspaper reported Saturday.

The additional amount reflects the estimated value of her Hewlett stock and options as well as her pension, which were not included in her severance package, the New York Times reported.

Fiorina was forced to resign Tuesday after the computer maker's board concluded she hadn't boosted Hewlett's (Research) sagging stock or its fortunes after the company's merger with Compaq Computer.

She will receive $14 million in severance pay and a $7.4 million bonus for 2004, according to terms of the agreement submitted Friday in regulatory filings -- even though Wednesday the board singled out her failure to accelerate the company's strategy, the newspaper reported.

But more than $21.1 million in additional compensation was not reflected in the severance package, the report said.

This includes options granted in 2003 now worth about $1 million, restricted grants of about 826,000 shares that, coupled with her other Hewlett holdings, have a current market value of $18.2 million, and a pension that compensation specialists said could be worth at least $2 million, according to the newspaper.

HP officials were not immediately available to comment.

[Rev-O]

Nice. I'm sure I'll be but the first of many to volunteer.

If any big company wants to be run into the ground, hire me. I'll thuroughly thrash the company, ruin it's corporate image, and reduce it's revenue streams. I will raze it to the ground, and then sow salt on the earth so nothing can be rebuilt. Call it the Carthage business model. I'm up for it. And I'll do it for a few million measley dollars. No need to throw 40 some million bones at some hag to ruin the company. I'd do it for a million bucks. Garaunteed.

[DeathToWindows]

Snort. Now, if HP can remove their heads from their asses rerinters, they might look a little better...

[RonnieoftheRose]

Originally posted by Rev-O:
Nice. I'm sure I'll be but the first of many to volunteer.

If any big company wants to be run into the ground, hire me. I'll thuroughly thrash the company, ruin it's corporate image, and reduce it's revenue streams. I will raze it to the ground, and then sow salt on the earth so nothing can be rebuilt. Call it the Carthage business model. I'm up for it. And I'll do it for a few million measley dollars. No need to throw 40 some million bones at some hag to ruin the company. I'd do it for a million bucks. Garaunteed.

You also have to perform sexual favors for slimy old bastard megalomaniacs in wheelchairs who listen to Michael Jackson records.

[dracoleb]

I wish I got fired like that.

"You were a disgrace to the company and you lost us millions of dollars, take this large sum of money and leave"

"k"
*buy's Dual 2.5 GHz Powermac G5 and dual 30" Displays*

[scaught]

i just dont get it.

1. why a CEO gets paid so much fricking money.
2. how a CEO who gets fired gets to take a bunch of money with them.

[OldManMac]

This has been rationalized by executive search companies as being necessary to attract, and keep, the best talent available. Obviously, it doesn't often work, as CEO turnover is too high.

[Apple Pro Underwear]

Originally posted by scaught:
i just dont get it.

1. why a CEO gets paid so much fricking money.
2. how a CEO who gets fired gets to take a bunch of money with them.

1. the responsibility the job involves along with your reputation at stake while doing it

2. now that is a legit beef

[ManOfSteal]

Carly? Did somebody say Carly? I thought the Lounge only speaks about one, and only one Carly...

[sugar_coated]

All good things come to those who wait.

[tooki]

Originally posted by Apple Pro Underwear:
1. the responsibility the job involves along with your reputation at stake while doing it

2. now that is a legit beef

If #1 requires such obscene pay, how come executives in Japan are happy with only a fraction as much? U.S. executives "earn" FAR more (adjusted for income!) than anywhere else in the world. Only Europe has executive pay anywhere close to the U.S.'s, and even there it's still much less than here.

tooki

[OldManMac]

No one's reputation, or the responsibility of the job, is worth hundreds of times what the average worker makes, except, obviously, to their bloated ego. If we have a company of 2000 people, and the CEO makes 400 times the average wage, which is not uncommon, he's worth 20% of the company's wages? Utter rubbish.

The greed at the top of corporations is best explained by this; I got mine, and don't worry about how I got it; now you get yours, and I'll do everything I can to stop you.