Is it only truly large corporations that reward failure? I know that if the CEO leads a small company to the brink of failure he does not walk away with a bonus; oftentimes, he is the owner of the company and he walks away in debt. But the Fortune 500 firm with billions in assets is a different creature. Here, if you fail, you still walk away with enough money to retire in splendor. Here are some examples:
Hewlett Packard - its latest casualty, Leo Apotheker, walked away with $13,200,000 plus moving costs back to Europe plus covering any loss up to $300,000 on the sale of his house.This is in addition to a signing bonus of $10,000,000 plus costs of $2,900,000 to move him from Europe to California. Mr. Apotheker worked eleven months at HP. His predecessors worked longer than that but they were rewarded just as well. Hurd got $12,200,000 and Fiorina $21,000,000. How many people is HP firing?
Bank of New York Mellon - Robert Kelly $17,200,000.
Yahoo - Carol Bartz $10,000,000
Burger King - John Chidsey $20,000,000
Massey Energy Baxter Phillips $14,000,000
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