Rationalize this any way you like. There’s a lot of blame to go around these days; a lot of vocal pundits even lay our current economic woes on the foreclosed doorsteps of the people who’re now losing their homes and/or life savings to the ongoing housing and credit crunch.
But take just a moment and examine the rules and standards that you’re held to in your own business, and imagine what your parting bonus might be if you’d guided your company to a massive loss in market value over the past 4 years. And if it looks anything like the package below, you’re probably reading the wrong blog.
from Eric Dash, for The New York Times
And as he awaits his official retirement next month, Mr. Prince can rest assured that he will leave with $68 million, including his salary and accumulated stockholdings; a $1.7 million pension; an office, car and driver for up to five years — all in addition to the [$12.5 million cash] bonus. That is on top of $53.1 million he has taken home in the last four years, a period when $64 billion in the company’s market value has evaporated.
