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Executives leave job, but oftentimes not the payroll

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NeoConsSuck Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-02-05 08:56 PM
Original message
Executives leave job, but oftentimes not the payroll
Old executives don't fade away. Increasingly, they stay on as company-paid consultants.

<snip>
Tyson Foods pays former chairman Don Tyson $1.2 million a year for "advisory" services through 2011. But the SEC found that he received $3 million in perks and benefits — both while in office and in retirement — that were improperly disclosed.

<snip>
• Motorola's Chris Galvin, who retired as CEO in 2004, gets $4.6 million for two years of unspecified work. That's on top of a $13.8 million supplemental pension.

<snip>
• For being "available to consult," PepsiCo says it's paying former vice chairman Abelardo Bru $1.9 million a year through 2008.

http://www.usatoday.com/money/companies/management/2005-05-02-consulting-deals_x.htm
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Gee, now I get it! Stupid me. We need to outsource so we can pay CEO's millions not only for real work, but also for pretend work.
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blogbear Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-02-05 09:00 PM
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1. Now, come on! They have a 'habit' to support!
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knowbody0 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-02-05 09:01 PM
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2. bingo
theuir salaries and bonuses go up, the worker is enslaved. they get the tax breaks. there are so many solutions to our economy
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