Isn’t it amazing how this report makes it sound like Fuld is an upstanding, wonderful CEO who is stepping down with no “bonus or severance”? What a nice guy…
Richard Fuld, the chief executive of Lehman Brothers Holdings Inc, will step down by year’s end, and not receive any bonus or severance when he leaves, a company spokesman said on Wednesday.
Fuld, awarded $22 million in compensation in fiscal 2007, has been widely criticized for having done little to save the company from collapse.
I’m not saying Richard Fuld is responsible for any wrongdoing, but ethically, I think he has some serious issues he needs to deal with.
At the end of 2007, he accepted $22 million in compensation. Did he accept that compensation before, or after, he found out that Lehman Brothers was going to be circling the drain in no time?
Now, don’t get me wrong either, I think he should be compensated for the job he did. I just think $22 million in compensation when the company is facing certain bankruptcy is just asinine.
Don’t worry about Richard, his golden parachute isn’t taking him too far. he’ll still be serving as non-management chairman of the board.
Sphere: Related ContentOne Response to “The Tangled Lines Of A Golden Parachute”
- Pingback: Progress!
- I agree with this because I saw state regulations ...
- I think things are going to get much worse before ...
- lol...zero accountability has led to this situatio...
- This news is sad. I think, President Obama should ...
copyright © 1997-2010,
The One And Only
Slobokan.
All other material and brand or product names are copyright and/or registered trademarks of their respective holders.
E-Mail sent to any kooksinsuits.com address, or the feedback address listed at the top of the page, may be considered for publication unless the recipient is expressly notified otherwise.
This weblog is licensed under a Creative Commons License.
Yeah, I agree and to think that the bankruptcy of Lehman Brothers badly affect many banks around the world which have investment in this company; the $22 million compensation of Fuld will naturally become a big issue.