Iomega's Next On The List Of The Silly Severance Payment Crew
from the is-this-a-club-I-can-join? dept
I'm really beginning to get sick reading about all these ridiculous severance packages. I honestly have no problem with many executive compensation plans - but when they drive that company into the ground and are fired (yes, fired) I simply don't understand how anyone can justify the millions of dollars in severance that these execs are getting. You fire someone because they drove the company into the ground. On what basis do you then pay them comfortably for the rest of their lives? I realize that there are always "circumstances" to why a company goes downhill but the job of the CEO is to deal with those circumstances. If they don't, then they've failed and they don't deserve squat on their way out the door. The latest is the former CEO of Iomega, who has pretty much destroyed the company. For his excellent work in destroying shareholder value he is be rewarded with slightly over $1 million. How do I get that job?
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Iomega
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Hush Money?
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