The Wall Street Occupation
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September 30th, 2011, 20:47
Hey, we just had a PERFECT example of what is wrong with executives at big companies: Apotheker at HP.
Before he was fired he had already taken home most of his $1.2 million annual salary, a $4 million signing bonus and an additional $4.6 million awarded for relocation assistance and to offset payments that he forfeited from his previous employer, SAP (SAP).
Apotheker will receive $7.2 million in severance, which will be paid out over the next 18 months. He'll also receive a bonus of $2.4 million for his 11 months of service.
Also, HP will pay Apotheker up to $300,000 for any losses or fees on the sale of his California home, and will immediately vest 156,000 shares of stock valued at $3.6 million on the day Apotheker got the boot.
Holy crap! *I* would have gladly driven HP into the ground for half that approx. $24 million.
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