Companies Promise CEOs Lavish Posthumous Paydays

[Newsjock]

Source: Wall Street Journal

You still can't take it with you. But some executives have arranged for the next best thing: huge corporate payouts to their heirs if they die in office.

Take Eugene Isenberg, the 78-year-old chief executive of Nabors Industries Ltd. If Mr. Isenberg died tomorrow, Nabors would owe his estate a "severance" payment of at least $263.6 million, company filings show. That's more than the first-quarter earnings at the Houston oil-service company.

Dozens of other companies offer lush death-benefit packages to their top executives, according to a Wall Street Journal review of federal filings. Many companies accelerate unvested stock awards after a death, which by itself can amount to tens of millions of dollars. Some promise giant posthumous severance payouts, supercharged pensions or even a continuation of executives' salaries or bonuses for years after they're dead.

... Companies often say one goal of their pay packages is to keep executives from leaving. But "if the executive is dead, you're certainly not retaining them," says Steven Hall, an executive-pay consultant in New York.


Read more: http://online.wsj.com/article/SB121305922859459465.html?mod=todays_us_page_one

[aquart]

1. So it doesn't even pay to kill 'em.

I can see why they would want to make sure of that.

[LSparkle]

2. It's all about INHERITED WEALTH, not work with these guys ...

Ensuring that ne'er-do-wells like Chimperor never have to REALLY
work a day in their lives ...

[mcollier]

3. Sickening for Americans

Stop voting against your economic interests.

When I see billions of tax credit corporate welfare being given to Oil and Pharmacutical companies it makes me sick...

Why is it the republican leadership stand with the lazy corporate freeloaders and the democrats stand with ordinary everyday struggling Americans?

What about the 1 trillion dollars that the Fed Reserve has injected into the Financial markets over the past 8 months..? Who is paying for that? Who is getting benefitted from that?

Why are our tax dollars being given away to Corporations at a .01 percet interest rate so these scum companies can turn around and lend that money back to hard working tax payers at a rate of 6.35 to 35 percent interest rate... And even higher???

If you don't realize what the Fuk is going on, then God help you...