Wednesday, January 17, 2007
Fired CEOs Drown Their Sorrows At Company Expense
Slate magazine occasionally offers up the ridiculous material details of office life and corporate folly, and the article at the link below is no exception. Apparently, fired CEOs not only get to depart with the golden parachute of their choice - they get to abscond with other goodies as well. Imagine the psychosexual chutzpah of Richard Thalheimer, former head of Sharper Image, who insisted on taking a seven foot tall Superman statue with him - along with a smaller statue of Star Wars robot C3PO. The two items had apparently been posted in his office, and together were worth $20,000. Superman indeed! Who needs a golden parachute if you can fly out the window, for Chrissake?
More practical going away presents often include pricey getaway cars. John Dubose of South Financial Group and John Aldeborgh of Varian Semiconductor demanded a GMC Yukon and a Porsche SUV, respectively, when they got canned. The two vehicles are worth $39,000 and $111,000. Quite honestly, I didn't even know there was such a thing as a "Porsche SUV".
At least one departing CEO simply wanted enough suds to drown his sorrows - for life, apparently. August Busch of Anheuser Busch left in the foamy wake of an agreement that provided "draught beer services and packaged products" till the end of his days. You and I get fired, my friend, we'll be lucky if they let us take home our own coffee cups.
"Free Beer!? And other perks CEOs get when they lose their jobs." from Slate