Poor Guy Lost His Job

Brevet

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The contract shows that if Grasso left for good reason or was involuntarily dismissed, he would be entitled to receive his annual $1.4 million salary and $1 million bonus through his May 2007 contract expiration.
Foley estimated the value of these payments at about $8.5 million. “It’s not unusual for CEOs to get two to three years of salary and bonus as severance,” he said. “His severance is (also) not what it could have been had his bonuses been calculated based on his prior years’ average bonus.”
The contract also shows that Grasso, 57, would be entitled to $28.6 million of supplemental retirement benefits, $12.1 million of payments tied to his age and a $5 million retention payment. He would also get free health care for life.
Do you think his health plan will be an HMO? :TRUCE:
 

JAMiAM

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Brevet said:
Do you think his health plan will be an HMO? :TRUCE:
LoL...you mean that he'll receive an HMO as additional compensation? That level of obscenity wouldn't surprise me... :cheeky:
 

jlbetin

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Is there Socialist or worst Commies at NYSE

Where is the freedom of management of individuals specific to USA, are you becoming French and leftist :D


Der WanderLikeDanRepublicanConservativeAndVerySchocked
 

Chuck?

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Any idea when the first CEO will make one billion per year in compensation? Or has this already happend? :nuts:
 

ER_Chaser

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oh.. I also want to lose HIS job then :D

(is it legal to shoot and then eat those bastards? :devil: )
 

Deltapooh

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ER_Chaser said:
oh.. I also want to lose HIS job then :D
I heard that. I'll leave with a smile :D

I saw earlier this year that while many companies are cutting thousands of jobs, CEO and other executives are making more money. Maybe we're all in the wrong line of work. If I were Grasso, I'd be the happiest unemployed man on Earth.
 

Tiberius

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The really disgusting part of executive pay is that most of those guys got where they are because of WHO they are and know rather than how talented they are. Eat the rich.
 

Cheetah772

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Tiberius said:
The really disgusting part of executive pay is that most of those guys got where they are because of WHO they are and know rather than how talented they are. Eat the rich.
I'm not so sure about that.

There are some rich guys out there who are decent human beings.

While the scale of Grasso's paycheck is really unbelievable, he did okay in the management of NYSE. At least, he didn't get involved with any of corporate scandals that's been widespread lately. At worse, he's probably too greedy.

Not all rich guys start out rich, some of them grew up poor only to acquire wealth later in their life. Some of them got rich by doing the hard work, so that means they were talented guys.

Dan
 

Chuck?

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Priest said:
Isn't Gates close to that now?
I'm not sure he gets paid that much now. However he did get a lot of stock options over the years that build up to many billions of dollars. Probably if you go back to 1990 or something he received over a billion in stocks but at the time the stocks weren't worth that much.
 
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