Severance pay for the haves and have nots

Severance pay for the haves and have nots -- Fired CEOs walk away with barrels of money. The rest of us don't get much protection, says columnist Barbara Whelehan. ........






CEOs have made headlines lately, the boldest ones reserved for those found guilty of accounting and securities fraud, resulting in losses of millions, sometimes billions, of dollars for shareholders and employees.

But they've also made smaller headlines as business newspapers highlight the more mundane news of the day: how much severance pay CEOs get when they leave a company, regardless of whether they're resigning or getting ousted for poor performance. In recent weeks, the Wall Street Journal ran short clips revealing the severance terms of several top-level execs, of which this is just a sampling:


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Let's face it. Top-level executives have tough jobs. They have to figure out how to cut expenses and increase revenues while retaining handsome benefits for themselves. Often, they have to engineer massive layoffs to reach these goals. But if they're unable to improve profitability to the satisfaction of shareholders, they're provided with a nice safety net, known as a golden parachute.

Meanwhile, what happens to the average working stiff who gets the pink slip through no fault of his or her own? What kind of severance can the rank and file expect to get?

more > http://www.bankrate.com/nltrack/news/BoomerBucks/20050406a1.asp

gives some ideas of what to do if your fired or laid off.

YES IT IS CLASS-WARFARE, ON US, AND DON'T EVER FORGET IT.

of the equation. We need to start pooling our resources, capitalizing our own business, and then run them the way we think they should be run.

Let's put our way against their way and see who wins.

The greedy people of the world just don't get it and never will. They are interested in short-term profit at the expense of everything and everyone that may get in the way of that. But history has shown that when people demand fair treatment and ethical business practices, everyone benefits.

The key is to get the working people of this country to realize that Kenneth Lays are the REAL threat to their families, not the gay couple down the street who wishes to marry.

our collective mouths are. I think we should shut up, and then put up. And skunk these guys at their own game.

There is more than enough liberal money out there to seed these things. We just need a rainmaker to put it together.

Democrats have not been outspoken enough about how the philosophies, plans, and policies of Repukes hurt most people. We need to get louder, NOT shut up.