10-08-2005 09:40									#1
	Let the Good Times Roll: Another Lousy CEO Gets $140 Million for Getting FIRED Suffering from ads?

What the hell is wrong with this place when people are getting this kinda crap after getting FIRED? This has become all too common and I'm sure I'll hear all the usual Captialist good soldier/whore crap about market value deciding compensation, blah blah.

I wonder if any workers were laid off during his tenure. Certainly that 140 million could have been put to use in keeping their jobs.

But this is PERVERTED.


I'm gonna see if I can get fired too.

http://money.cnn.com/2005/08/09/new...dex.htm?cnn=yes

quote: Ovitz keeps $140M severance package Judge rules that $140M severance package to Michael Ovitz should not be returned to Walt Disney. August 9, 2005: 5:24 PM EDT WILMINGTON, Del. (Reuters) - A judge ruled Tuesday that the Walt Disney Co. board did not breach its duties in awarding a $140 million severance package to Michael Ovitz, a Hollywood dealmaker ousted as the company's president after just 14 months in the job. The decision by Judge William Chandler of Delaware Chancery rejected the arguments of Disney shareholders, who said the media company should not have paid the severance to Ovitz. Shareholders contended that Ovitz, who left Disney in 1996, failed miserably as Disney president and should have been fired for cause. The lawsuit had sought the $140 million payout plus interest returned to the company. Shares of Disney (Research) fell over 1 percent in after-hours trading Tuesday.

	10-08-2005 09:42									#2
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So what exactly is the benefit of being president if they make the exact same wage as the janitor, as you seem to want?

	10-08-2005 09:42									#3
	Remove this text

Dude, that's like 9 years ago. Can't you find fresher material?

Besides, all those guys are liberal Democrats. Real Hollywood pinkos.

	10-08-2005 09:44									#4
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quote: Originally posted by Patroklos So what exactly is the benefit of being president if they make the exact same wage as the janitor, as you seem to want?

That's exactly what I said and the same line of reasoning too.

Thanks.

	10-08-2005 09:45									#5
	Full PM-box? Change here!

quote: Originally posted by DanS Dude, that's like 9 years ago. Can't you find fresher material? Besides, all those guys are liberal Democrats. Real Hollywood pinkos.

The ruling was made today.

And who cares what party they are? We all know they both suck.

	10-08-2005 09:46									#6
	Put an end to popups!

Awwww, Ted,

So cute when your indignent.

	10-08-2005 09:50									#7
	Inflate your Upload Space

Sorry, Ted. I don't have much sympathy for anybody in this instance. Everybody let Eisner have his way with the company. They bought into the cult of Eisner when he was doing stupid crap like this. Reap what you sow, etc.

	10-08-2005 10:38									#8
	Increase the size of your Attachments

Rich people fighting over money.

	10-08-2005 11:11									#9
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quote: Originally posted by DanS Sorry, Ted. I don't have much sympathy for anybody in this instance. Everybody let Eisner have his way with the company. They bought into the cult of Eisner when he was doing stupid crap like this. Reap what you sow, etc.

The people I'm sympathetic towards are any staff workers in any company that may have lost their jobs because of resource misallocation.

Cult CEO worship has died down considerably since 1996-2001 era, but the compensation mismatch is certainly still there.

	10-08-2005 11:15									#10
	Avatar Enlargement: We've got the solution

quote: Originally posted by Patroklos Awwww, Ted, So cute when your indignent.

I'm cute all the time.

	10-08-2005 12:14									#11
	Tired of ads?

quote: So what exactly is the benefit of being president if they make the exact same wage as the janitor, as you seem to want?

	10-08-2005 13:00									#12
	Tired of ads?

I agree that executive compensation / poor corporate governance is a major problem. If shareholders can't get it together to put the brakes on the numerous abuses then perhaps they should simply sell their shares of the most abusive corporations and let the execs own the whole shebang. Let's see how brave they are when they are only allowed to play with their own money.

	10-08-2005 14:08									#13
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@ Az

	10-08-2005 19:32									#14
	Increase the size of your Attachments

quote: Originally posted by Sikander I agree that executive compensation / poor corporate governance is a major problem. If shareholders can't get it together to put the brakes on the numerous abuses then perhaps they should simply sell their shares of the most abusive corporations and let the execs own the whole shebang. Let's see how brave they are when they are only allowed to play with their own money.

Ah, but that's the thing. The shareholders are just as greedy and irresponsible as the CEOs.

	10-08-2005 19:34									#15
	Tired of ads?

I think everyone who has a net worth of over $10 million should be executed... just in principle

	10-08-2005 19:52									#16
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But first Sava should be executed... just in principle.

	10-08-2005 21:45									#18
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quote: Originally posted by Kidicious Ah, but that's the thing. The shareholders are just as greedy and irresponsible as the CEOs.

	10-08-2005 22:23									#19
	Remove this text

quote: Originally posted by Kidicious Ah, but that's the thing. The shareholders are just as greedy and irresponsible as the CEOs.

I'll make sure and mention that to those people who lost their retirement funds when they naively invested in funds that bought Enron stock.

	10-08-2005 22:38									#20
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quote: Originally posted by Patroklos So what exactly is the benefit of being president if they make the exact same wage as the janitor, as you seem to want?

Fallacy of the excluded middle.

	10-08-2005 22:41									#21
	Lose 30 kilos (of popups)

quote: Originally posted by Patroklos So what exactly is the benefit of being president if they make the exact same wage as the janitor, as you seem to want?

omg, you're right, if we don't pay ceo's hundreds of millions of dollars, nobody would want that job

I mean, why run a company when you can clean up ****!

	10-08-2005 23:08									#22
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The severence package was agreed to as part of the hiring contract. If I was going to be work for Eisner, I'd want guarentees too. The amount was not determined on when he was fired.

	10-08-2005 23:10									#23
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stupid ferret!

	10-08-2005 23:15									#24
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quote: omg, you're right, if we don't pay ceo's hundreds of millions of dollars, nobody would want that job

For all the work that CEO's do? Hell no, I wouldn't want it without all the money.

	10-08-2005 23:19									#25
	Got spare money?

so what's wrong with like $200,000 - $500,000

	10-08-2005 23:20									#26
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Probably because there are other jobs that pay that amount that have less work involved .

	10-08-2005 23:21									#27
	Increase Your PM Length

IIRC, the Costco CEO makes only a few hundred thousand a year.

	10-08-2005 23:23									#28
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quote: Originally posted by Imran Siddiqui quote: omg, you're right, if we don't pay ceo's hundreds of millions of dollars, nobody would want that job For all the work that CEO's do? Hell no, I wouldn't want it without all the money.

There's many people who do alot more for alot less.

	10-08-2005 23:25									#29
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quote: Originally posted by Ramo IIRC, the Costco CEO makes only a few hundred thousand a year.

Isn't he also the founder, though?

quote: originally posted by General Ludd There's many people who do alot more for alot less.

Oh? I'm sure that list is very, very few. Not 'many'. The old fallacy that CEOs don't do any work (skewered by "The Simpsons" in that great episode where Homer becomes CEO of the Nuke Plant). However, while I do sympathize with the guy that works 3 jobs, he also isn't responsible for thousands or millions of jobs and doesn't need anywhere near the training or skills that a CEO would need.

	10-08-2005 23:33									#30
	On the other hand... Support Apolyton, buy Galactic Civilizations

I personally know quite a few CEOs, and I know that I work just as many hours as many of them for a fraction of the pay. I also have equivalent training and experience and in some cases, I have a better track record of managing companies, projects, and employees.