Need your vote
Footnoted needs your vote on the most outrageous handout to executives in 2011. Here are the candidates:
- MF Global agreeing to pay then-CEO Jon Corzine a $1.5 million retention bonus months before the company imploded.
- Clear Channel Media Holdings paying $3 million a year to a company controlled by Bob Pittman so that Pittman can fly in a Mystere Falcon 900 that Pittman owns for both business and personal use.
- Leo Apotheker collecting around $25 million in severance and other benefits from Hewlett-Packard, including relocation back to France or Belgium after less than a year on the job.
- IBM’s outgoing CEO Samuel Palmisano becoming eligible for as much as $170 million in retirement benefits, just by waiting until he was past 60 to announce his retirement.
- Nabors Industries agreeing to pay outgoing CEO Eugene Isenberg $100 million in severance on his way out the door.
So please, do us all a favor and come to the realization that the loathing you feel from your fellow Americans has nothing to do with your “success” or your “wealth” and it has everything to do with the fact that your wealth and success have come at a cost to the rest of us. No one wants your money or opportunities, what they want is the same chance that their parents had to attain these things for themselves. You are viewed, and rightfully so, as part of the machine that has removed this chance for many – and that is what they hate.