Jul 22, 2013
For decades, the top executives at the largest U.S. companies have received multi-million-dollar pay-offs when they are kicked out or retire. Last year was no exception. The former head of oil company ConocoPhillips got 156 million dollars – a nice retirement package.
Even when they get in trouble, like the head of Citigroup who was forced out of his job last year, they get paid. The Citigroup Board gave him a bonus worth 6.7 million dollars.
A lot of people have lost jobs in this recession. But the exec group has their friends on the boards of directors to look after them. Guess we don’t need to take up a collection for them.