So what if New York Attorney General Elliot Spitzer lambasted him for misleading investors about his golden parachute?
And at all 14 companies where it came up, management adopted shareholder measures to cut golden parachute pay for dismissed executives.
It also has a golden parachute in place to make him feel like a winner if let go.
Those eased out of their former positions are enjoying impressive golden parachute retirements.
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This is a golden parachute that could allow us to pay down our debt more quickly than would otherwise be the case.
The so-called golden parachute goes back to a perfectly reasonable attempt to get CEOs to create even more value for their companies.
They got their golden parachute, or amakudari (descent from heaven).
Those rules include steps to take back executive benefits or compensation when appropriate and to insure that no one can walk away with a golden parachute while taxpayer money is at risk.
And although research by Ramesh Khurana of the Sloan School of Management suggests that top executives are fired rather more often these days, they still tend to leave with options and pension rights intact and a comfortable golden parachute to soften the fall.
The life of an organization is a series of complex transaction costs, and sometimes you just have to squelch enthusiastic innovation, promise a CEO an obscene golden parachute and banish the thought of ever putting shrimp salad on the menu because, if you happen to be McDonalds, you could endanger an entire species.
The plan, dubbed the "rip off" initiative by the country's media, bans so-called golden-handshake and golden-parachute severance agreements.
All TARP banks will be subject to bonus and golden-parachute limits.
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