McDonald's Pays CEO $41 Million For Firing Him While Paying Workers A Poverty Wage

[progressoid]

McDonald’s is giving its CEO $41 million as it fires him for a relationship with an employee. This is the same McDonald’s that refuses to pay workers a living wage.

“Former McDonald’s CEO Stephen Easterbrook is getting an exit package of almost $42 million after his relationship with an employee was found to violate company policy. The size of his compensation puts a new focus on the widening gap between the pay at the top and the bottom of the corporate ladder.

According to an analysis by executive-compensation experts at Equilar, Easterbrook’s exit package totals $41.8 million, which includes six months of severance pay, shares he can cash out in the future and other equity. And that amount is in addition to $23.8 million in stock options that Easterbrook can exercise now.

‘Wow, he is walking away with a lot of money,’ says Cornell Law School professor Stewart Schwab, an expert on employment law. ‘And it comes out as part of the story of just, wow, [the] 1% gets a lot more money than the rest of the workers in this economy . . .’

http://labor411.org/411-blog/mcdonalds-pays-ceo-41-million-for-firing-him-while-paying-workers-a-poverty-wage/?fbclid=IwAR3OnXZ11EK4-4PcJmL0-09G9QZfO7hIyUFceoVQ4aN5C_3uNBzkbpLh-yM

[jberryhill]

1. I'll have sex with whomever it was for half as much

Where do I apply?

[kimbutgar]

2. Why I never go to McDonald's. This and horrible chemical ridden unhealthy good

These greedy corporations are destroying our country.

McDonald’s is always there fighting raising minimum wage laws in local municipalities.

[Dustlawyer]

3. Since when does someone get fired for this get the employer to reward this terrible

behavior that he was fired for? How many McDonalds employees have been fired for the same thing in the past got a huge going away bonus?

Inequality is more than just wealth. Wall Street fraudulent bankers do not even get charged, much less investigated, but if a regular person gets busted for some pot they will spend years in jail.

[Hermit-The-Prog]

4. golden parachutes vs destitution

[lpbk2713]

5. "Ya want fries with that forty-one million?"

...

[Newest Reality]

6. Isn't that an unspoken rule at the top?

You get your compensation above and beyond your real worth and often, no matter how it goes. Oh, they may sever you, but your package will be well worth it.

So, from what I can tell, the same works with bankrupting large companies. Since the corporate veil protects the higher-ups from most liabilities and is rarely pierced by the courts, you can literally tank a company and walk away very wealthy. When you have a lot you can also take many more risks than the average person for whom getting a newer clunker to drive or any major expenditure could be devastating if things go wrong.

There are different rules financially and legally for the various, unmentioned CLASSES in this culture. That seems to be obvious and yet, people can act with shock and disgust, etc., that they "get away" with it. They have the privilege to do so the way things are structured and that also helps contribute to the growing inequity that is going to worsen with time.

[hunter]

7. A typical McDonalds employee might end up homeless for the same offence.

Disparities of wealth and privilege in the U.S.A. are increasing to dangerous levels.