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The Doghouse
Posted by dogday in General Discussion
Wed Oct 01st 2008, 11:29 AM
(Mental Floss) -- Work hard, get promoted, succeed in your new post, and eventually you'll start earning the big money. This progression seems like a firmly ingrained part of the American Dream, and it's certainly worked for a lot of people.

However, these steps aren't absolutely necessary to fatten your bank account, as Washington Mutual CEO Alan Fishman learned last week.

When WaMu failed and was seized by government regulators, Fishman had been on the job for just 17 days. However, he was contractually guaranteed $11.6 million in cash severance on top of the $7.5 million signing bonus he got for taking the job.

Basically, Fishman netted just under $20 million for 17 days of work, which is a pretty nice setup for the head of a collapsing corporation. (In Fishman's defense, it's tough to blame WaMu's failure on his leadership alone; it seems highly unlikely that any CEO, however determined, could crash such a large thrift in just two weeks.)

http://www.cnn.com/2008/LIVING/wayoflife/1...
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The truth passes through though three stages ~ First, it is ridiculed ~ Second,it is violently opposed ~ Third, it is accepted as being self evident: Arthur Schopenhauer.........
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