TechCrunch.com: Nice work if you can get it: Apotheker Leaves HP With $10 Million Severance

[Corcaigh]

http://techcrunch.com/2011/09/29/nice-work-if-you-can-get-it-apotheker-leaves-hp-with-10m-severance/

Here's an example of executive pay excess that should cause a shareholder to grab their pitchfork and torch and storm the castle.

CEO fired after less than a year in which there were many awful strategic decisions, and a 45% drop in stock value, and this is his reward.

Nice work if you can get it. No way we can afford to have folks like him pay an extra 4% on the top of their income as it would destroy job creation.

[Prosperity]

How are they going to attract more incompetent figure heads if they don't pay the ones they have a fair wage?

[mjah]

Can't you see that he's a job creator? Why can't you leave him alone, crazy socialist! That $10 million is his, he earned it fair and square and he shouldn't be taxed one more penny on it!

[Destino]

I find it fascinating how logic goes out the window when we talk about executives. If, in any other context, we encountered a job that paid you millions in the event of absolute failure we'd all recognize it as a bad idea. They claim they crazy pay structures attract the right people but I will appeal to the logic of you reading this, do you really believe pay structures that reward failure attract the right people? Nonsense.

[LD0506]

There is a huge culture of corporate incest that makes these things possible. These guys sit on each other's boards, I vote for your package here and you vote for mine there. The whole "best and only people for the job" BS would gag a rat, this is another of the great lies that pushes us closer to the edge every day.

[Ellis]

bu-bu-but... what about the millionaires maids and gardeners...?

[Corcaigh]

bu-bu-but... what about the millionaires maids and gardeners...?

Yeah ... the trickle down ... it's the sparrows following horses to eat the undigested oats from their droppings.

[TimmySmith]

It's all negotiated up front. I'll bet he received the lowest possible buyout under his contract. Adam Dunn had a worse year and got more money.

[ixcuincle]

Again, how do I get a cushy CEO job? Retire off my severance and buy a ton of yachts

[Predicto]

10 million? That's chump change. Lots of these guys get hundreds of millions when they get booted out for incompetence.

Apotheker is being disrespected.

[ixcuincle]

**** like this is why kids are out in parks trying to #occupywallstreet

You can understand why they are so mad when you see ****ing stories like this