Countrywide's CEO is eschewing a $37.5 million severance package as he leaves the company that profited torrid billions during the housing bubble, sometimes through duplicity and reams of questionable fees. After all, there's only so many gold-plated Rolls Royces one can drive. [Reuters]
Post a comment
Comments:
Stupid moronic companies negotiating golden parachutes for executives that are not based on results. I don't fault the CEO in the least bit for this. He negotiated a good deal when times were good and the company was contractually obligated to hold up their end of the deal. Tough nuggets.
@bradanomics: I think you missed the point of the article. The CEO isn't taking the severance package he's entitled to.
ColoradoShark: It's alright, "Think of the children!" is pretty much a dead giveaway.
bradanomics: FAIL
He's either thinking of his next job, or worried about a lych mob.
Am I the only one here who would have taken the package and retired? I guess when you get to that level you get used to a lifestyle that only 100 million can afford but frankly I'd be happy living off the returns of investing it.
Think of the children! What kind of message is he setting for the next generation of CEOs that come up with some kind of pump up the economy scam?
I say we should force him to take the money!
(OK, just to be sure, this is sarcasm. Sarcasm does not always come through well in writing.)