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Is that Golden Parachute big enough for all of us??

Published:

http://www.smartmoney.com/editorspage/index.cfm?story=20070103

This is just BUGGING the HECK out of me.....the local Home Depot Stores are under a "Hiring Freeze" and have been for months......the employees are absolutely not to put in any overtime and the Company pays this kind of money to get rid of an Executive??????

 What the heck is going on in the world????

Entry #5

Comments

1.
emilygComment by emilyg - January 5, 2007, 1:07 pm
Your language is much nicer than i would use about this *&*&^**(*&&&^**#
2.
we;reallwinnersComment by we;reallwinners - January 5, 2007, 1:15 pm
I'll drink to that emilyg.............there are people that can't find a minimum wage job in the state and this guy gets Fired and walks away with Millions.........I just don't understand what is happening...........what's even worse is the employees are HUGE stock holders in the company..........
3.
konaneComment by konane - January 5, 2007, 1:17 pm
Evidently part of a contractual agreement to hire him for his "expertise." If that executive were doing a good job managing HD they wouldn't be targeted for a leveraged buyout. Maybe we haven't heard the last of that severance yet.
4.
Rick GComment by Rick G - January 6, 2007, 12:54 pm
In my business I have to go to the hardware store on a daily basis and depend on them for ordering things and solving my maintenance problems.   Hell Depot is the worst hardware store on the planet. What P's me off the most is that this mega-crap of a store has put a lot of the true hardware stores (such as ACE) out of business. I will celebrate heartily when they go belly-under.
5.
ToddComment by Todd - January 11, 2007, 9:25 am
Well, I personally like shopping at Home Depot, so I'm not going to rant about the store itself. But that $210 million payday is SICKENING. To blame it on the CEO is wrong. In fact, to blame it on any of these high-flying CEOs is wrong. It's the Board of Directors, and frankly it's the whole concept and makeup of these Board of Directors in various companies that's killing everything.

The BOD is typically made up of people who are officers of other companies, certainly higly-paid people. It's an insider group of people -- an elite sliver of society -- who gets hired to these Boards, and they vote these ridiciculous pay checks, because then the people of the Boards of THEIR companies do the same for them. It's a vicious circle, and it's all because of the idiotic way these Boards are put together.

They DO NOT represent the shareholders, they represent an elite group of executives, who are only interested in enriching themselves. They care only about the bottom line of the company, and rarely know anything about the business itself. (Other than what factors impact the bottom line.)

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