Thursday, September 07, 2006

They should spend more time thinking about the business

In this article from Slate, Michelle Leder, of footnoted.org, points out the latest perquisite of the big time CEO: protection from losing money when selling your house. The documents may call it different things - "protection against loss", "loss protection", "price protection" - but it's still the old money grabbing stealing from the stockholders.

Some of the companies Leder mentions in this article are media darlings, such as eBay and Nike. In addition to protecting a former CEO from loss on the sale of his house, Nike also paid $578,000 to renovate the house, including the provision of a wine cellar that can hold 2,000 bottles.

No comments: