Berkeley CSUA MOTD:Entry 50215
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2025/07/12 [General] UID:1000 Activity:popular
7/12    

2008/6/10-13 [Politics/Domestic/California, Finance/Investment] UID:50215 Activity:low
6/10    Millions Paid to Dead CEOs Outrage Over 'Golden Coffins': Tech T:
        http://www.csua.org/u/lqh (finance.yahoo.com)
        "Among the more outrageous posthumous packages:
            * $298.1 million for Comcast CEO Brian Roberts
            * $288 million for Nabors CEO Eugene Isenberg
            * $115.6 million for Occidental CEO Ray Irani
            * $17 million for Shaw Group CEO J.M. Bernhard to not compete with
              the firm after he dies"
        I wonder if J.M. Bernhard is thinking about breaching the contract.
        \_ Why should you care what someone's compensation is?
           \_ It's just funny that a firm is willing to pay a CEO to not
              compete with the firm after he dies.  --- OP
              \_ That's the wording of the author, not of the contract.
                 \_ see the WSJ link; it's a non-compete clause in the
                    contract, which still pays off if he's dead.  -tom
                    \_ Correct.  Which is different than the wording of the
                       author. -pp
                       \_ I understand now.  Thx.  -- OP
                       \_ it's still pretty lame to have a non-compete clause
                          pay off in the case of death.  -tom
                          \_ duh.  It is just to make sure his family gets the
                             money if he leaves the company by dying instead
                             of by leaving.  It is to encourage him to stay
                             until he dies and not leave early to cash in on
                             the non-compete when he's otherwise doing a good
                             job.  It is not lame if you accept that any
                             non-compete clause was worth that number.  Why is
                             it necessary to explain such a simple concept?
                          \_ What better way to guarantee fulfillment of the
                             non-compete side of a contract than to die?
2025/07/12 [General] UID:1000 Activity:popular
7/12    

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www.csua.org/u/lqh -> finance.yahoo.com/tech-ticker/article/25925/Millions-Paid-to-Dead-CEOs-Outrage-Over-'Golden-Coffins'
Shaw Group CEO JM Bernhard to not compete with the firm after he dies The practice is time-honored but was largely hidden until a recent change to disclosure requirements. Defenders say the packages are merely "deferred compensation" or geared to aid estate-planning and tax efficiency. Even after the scandals of Enron and WorldCom, it's pretty clear that many CEOs -- and their boards -- have no shame when it comes to compensation. report abuse you Dave - Tuesday June 10, 2008 12:27PM EDT "it's pretty clear that many CEOs -- and their boards -- have no shame when it comes to compensation." Oh, and for accuracy, change the "many CEOs" to MOST CEOs! Finance User - Tuesday June 10, 2008 12:34PM EDT The rich get richer the poor get poorer! All us wage earners are slaves to whoever has the hammer. Oil, Government, Socialist programs, the list is endless. net - Tuesday June 10, 2008 12:40PM EDT It is time the government steps in to end this. The stockholders have tried by submitting propsals that are on the voting ballot but the board always recommends to vote against. These CEO's do not deserve the money that is paid them especially when the stock sinks in value or because of bad decisions the company starts to go south. Have you ever heard of an average person who works for a company being paid millions to leave? Finance User - Tuesday June 10, 2008 12:44PM EDT This is another another nail in the US economy, along with W's Big Oil pals. Learn Chinese while you can , our new owners may take a shine to those who speak the linga! report abuse you Karl C - Tuesday June 10, 2008 12:44PM EDT New tax plan: 1 only reasonable stock options. Let's face it, these huge compensation packages are from large corporations and for the most part monkeys could do what these CEOs do. Individual stockholders cannot change this with proxies as institutional investor in bed with CEOs and boards control voting. Small business owners and medium size coporate exec don't make this kind of money and usually work their butts off for what they get. report abuse Raghu Raghu - Tuesday June 10, 2008 12:48PM EDT Few years ago (2002 or so) I read an interview with Peter Drucker, who predicted with these new corporate rules and tax breaks all you would see is Corporate GREED and scandals ... Finance User - Tuesday June 10, 2008 12:51PM EDT It's just amazing to me what you can do as long as it's OPM. All of the hawkers (just look at the ads on these pages) telling people to keep packing money away into the market into IRAs and 401Ks. Behind the scenes, you have a bunch of pigs using any clever scheme that they can dream up to drain that money out as fast as it rolls in with no real gain. You really have to have a GRAND sense of contempt for a company and it's shareholders to expect to get paid after you are dead for NOT COMPETING. Heck, that may be the next scam - becoming a CEO after you are dead... report abuse you Tex - Tuesday June 10, 2008 12:55PM EDT Before you twist your knickers, if you don't like what a CEO is paid, don't buy the company stock or don't buy their product. Perhaps where you first need to look is into Congress, the shameful retirement/medical packages that they vote for THEMSELVES is YOUR MONEY, which is stolen from you via "taxes", which they can raise any time they wish. Stop allowing yourself to be fooled, Congress is pointing the finger at everyone else but themselves because you CAN vote them out. the last time i checked our society is build on the foundation that everyone has a chance to make a successful for themselves. Whether that goal is having as much fun, raising a large family, or yes ... The moment the government steps in to regulate how much money you can make we lose all ability to innovate and compete on the world stage. All the best companies, best innovations, and leadership resides here in the US Everyone is just upset that its not them earning that kind of pay. Let's not forget that Comcast has created 10s of billion of dollars of return for its shareholders -- inlcuding middle-class. Quotes and other information supplied by independent providers identified on the Yahoo! Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. Historical chart data and daily updates provided by Commodity Systems, Inc. International historical chart data and daily updates provided by Hemscott Americas. Fund summary, fund performance and Morningstar Index data provided by Morningstar. Analyst estimates data provided by Thomson Financial Network. 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finance.yahoo.com
Oil at $41 All-Time High on Supply Fear Fri 4:08am ET - Reuters Oil prices hit an all-time record on Friday fueled by global economic growth and enduring worries that gasoline supplies will struggle to meet peak summer demand in the United States. No Time is the Right Time for Sub-Prime by Suze Orman My bet is that if your doctor tells you to scale back on the saturated fat to avoid a life-threatening heart disease, you're probably going to listen. Well, for the next few minutes, I am your financial doctor. To Select Great Stocks, Home In On High EPS Ratings Investor's Business Daily Decades of research show earnings power is the biggest factor in a stock's success.