No doubt this will be averaged out so that on paper, American workers have a great average pay but in reality, a fat-cat CEO has creamed more off the top and the workers at the bottom get zip. And all for doing a bad job! (it's hard to imagine what more she could have done if M.Dell had been paying her!
One bit made me laugh though:
She will also keep her computer, receive technical support for three months, and have access to a secretary for six months.
An absolute disgrace under any circumstance. These sorts of settlements are immoral and endanger the vision of millions of young people. That Fiorina was the instigator of the ill-fated buyout of Compaq that cost HP shareholders millions makes this even more preposterous.
Of course the CEO of Merril Lynch whose shares fell under his watch last year, was still given a $31,000,000 bonus for 2004.
What kind of a message is this sending to those young people who are looking at all this from their school desks?
Even to a dumb user it was evident something was not right after HP/COMPAQ joint... with that kind of CEO contracts, i would not be surprised if she commited a calculated "mistake" to get fired.
By the way HP just came out with a low cost pc with integrated tv, fm radio and removable second hard disk. I am sure Bill is providing the Soft for you to play with all that.
Thank God we've got Bush looking out for these poor folks. It's just a shame she didn't get more. It just isn't right.
>SIGH<
How many jobs would $42 million save? United Airlines is in bankruptcy yet their CEO earns over $20 million a year (God only knows what his golden parachute is). How many jobs would United save if he took a 75% paycut? There are many corporations just like this, with execs more concerned with lining their pockets rather than running the corporation competently.
A few years ago I visited Ben & Jerry's - an Ice Cream company run by a couple of "liberal Jews" in Vermont.
They had a policy that they, Ben or Jerry, couldn't make more than 7 times the least paid person in the company. SO it they wanted more salary they had to give everyone more.
I think at that time it was rated as a top 5 company to work for in the US.
Why 7 times more, and not 6 times more, or hell, if we're going to get socialistic here, what about getting equal pay?
So another corporation is paying for horrible management. Is there any wonder why the USA has a trade deficit? These people put up inferior products, and get rewarded for doing so. If this was Hong Kong, they would be fired and not be able to work in that industry ever again.
Why 7 times more, and not 6 times more, or hell, if we're going to get socialistic here, what about getting equal pay?
We're not. Can you honestly argue that she earned $42million?
In the last 30 years the "average" US salary has gone up but the *real* average, discounting the tiny percentage of CEOs who's pay has skyrocketed, has not budged.
The rich get even richer and the poor pay for it.
Is this what the American dream is supposed to be about? Surely it should be renamed the American nightmare ...
Having used HP, Compaq and Dell ... I'd buy Dell everytime.
Don't get me started on HP software (esp. their printer drivers)
This HP we have sucks eggs. It's slow as hell and well, it just freezes up all the time. Andy's old computer that he and his sis bought in 1999 runs faster than this one. That one was made by IBM.
What is it you like about Dell, Simon?
Yeah, I hope the lady enjoys her money. HP will probably give her a lifetime supply of HP bathroom tissue with HP pressed into every sheet with a special seal as part of her severance package. I think GW Bush uses similar paper at the White House. Only his paper has the images of all the Americans that he has snowed, pressed into each and every sheet. It's just one of those wonderful perks you get when you're the prez.
