Tweet
WAMU creditors are going after ousted WAMU CEO Kerry Killinger's $16.7M severance pay.
Are we witnessing the end of the 'golden parachute?'
Is there a real possibility that executive salaries and bonuses may become directly linked to performance objectives?
Pardon me for not sympathizing with Mr. Killinger.
I have a client who watched his 50k shares of WAMU plummet into oblivion (eschewing my advice to sell and cut his losses) for the last three months and nobody sent him a letter of condolence - much less a 'sorry things didn't work out' check - after his bad investment decision didn't work out. Why should these execs' landings be softened while the shareholders are going 'splat' all around them?
http://seattletimes.nwsource.com/htm...10_wamu01.html
Are we witnessing the end of the 'golden parachute?'
Is there a real possibility that executive salaries and bonuses may become directly linked to performance objectives?
Pardon me for not sympathizing with Mr. Killinger.
I have a client who watched his 50k shares of WAMU plummet into oblivion (eschewing my advice to sell and cut his losses) for the last three months and nobody sent him a letter of condolence - much less a 'sorry things didn't work out' check - after his bad investment decision didn't work out. Why should these execs' landings be softened while the shareholders are going 'splat' all around them?
http://seattletimes.nwsource.com/htm...10_wamu01.html