$100 million payout for retiring CEO

[bluebuzzard]

Source: CNN

Isenberg is contractually entitled to a $100 million payment in the event that he is fired or that the firm otherwise makes a change in control.

Read more: http://money.cnn.com/2011/10/31/news/companies/nabors_ceo_bonus/index.htm

[demosincebirth]

1. And they wonder why, we the people are in an uproar

[Tuesday Afternoon]

2. so.fucking.disgusting.

stupid.

[bertman]

3. Send these news items to everyone you know. Get the word out. Apathy is our enemy. REC. nt

[No Elephants]

8. Apathy is our enemy. Well said. And apathy infects low info voters. Stop the epidemic.

Great point, bertman.

[quakerboy]

4. I wonder if things would change if we made

CEO's subject to "right to work" type legislation.

Or alternately if we made all employment subject to this type of contract... You start a job, and you are guaranteed just over a years salary in bonus if they quit, are fired, die or otherwise for any reason stop working at that job.

[Amonester]

5. Not going to happen (depending on who are the "we" you're thinking).

See why there: http://www.theyrule.net

It's all based on kickbacks and a never ending circle between politician$ and their real bo$$e$.

[quakerboy]

12. We as in us.

And I did not say "this will happen". I pondered how things might change if it were to happen.

I doubt that such a thing will ever happen. But then again, if I were to just accept it will never happen, and by inference that nothing else will ever change either, what would be the point of being a Liberal(or any of the other things I self classify as)?

[plumbob]

6. Funny how "their" contracts always have to be honored,

while none of ours do.

[primavera]

10. They can afford better lawyers - n/t

[plumbob]

11. Actually, no matter which lawyer I got, I doubt I could get a huge

bonus for causing my employer to go out of business.

But these guys do it all the time.

Yet autoworkers take a haircut, for one.

[hamerfan]

7. You mean

everyone doesn't have that clause in their employment contract?
:sarcasm:

[No Elephants]

9. Share price was down 20%, more than its competitors. (Of course, Halliburton is one of its

competitors, so it may not be a level playing field. Still....)

He "earned" over $79.5 million last year.

I heard this makes almost a billion out that this company has paid him so far. (I'm guessing that does not even include "perqs,")

And he will still be on the board of directors, but his contract provides for this payout if his responsiblities change--even if the reason for is his own death!


I mean, I'm all for paying what people deserve, but ya gotta wonder what made the board of directors think he was worth all that.

Whatever it was, I'll take six.