flutterby__ (flutterby__) wrote,
flutterby__
flutterby__

A different view of "golden parachutes"

News out of Congressional hearings on Lehman Bros. talk about the lavish compensation packages that some executives got on their way out of a company on the brink of bankruptcy.  But are "golden parachutes" all bad?

When former Wachovia CEO Ken Thompson was forced to retire, he walked away with $28 million.  It appeared to be another bungling chief executive who stumbled — or was pushed — out of a plummeting plane, pulled the ripcord on his golden parachute and floated into a comfy retirement.  But the stereotype doesn’t quite fit.
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