Wednesday, January 03, 2007

Nice Golden Parachute

Here's another Corporate CEO, Bob Nardelli of Home Depot, leaving with a $210 million severance package for doing a great job driving Home Depot's stock into the ground. He's another former GE six-sigma cult moron.

Nardelli is walking away with a chunk of change he'd otherwise have to rob the Bellagio to get. He'll get $20 million in cash, the acceleration of unvested stock options to the tune of $77 million, the payment of previously earned and vested deferred shares worth nearly $44 million and retirement benefits worth about $32 million. Throw in other benefits and payments, and the company is cutting a check for $210 million. Nice work, if you can get it.

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