Bernie Ebbers Set For Life
from the stupid-executive-compensation-plans dept
How's this for punishment for screwing up a company? First, after you make a bunch of stupid personal investment moves and are close to declaring personal bankruptcy, your company loans you over $400 million at next to no interest. Then, after Wall Street properly freaks out about that (as well as the fact that the company you're running is being driven into the ground), you're finally forced to resign, but as part of the deal, you're guaranteed $1.5 million per year for the rest of your life. That's quite a severance package for a company many people think is about to declare bankruptcy, but that's the state of things with Bernie Ebbers and Worldcom.Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
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