Nardeli: License to Steal?

[primative1]

Anyone hear the joke about the Home Depot CEO who did his job so badly that he was fired yesterday after having only working at the company for 2 years?
Yupp ... That be Mr Nardeli; and don't ya know that to cushion the blow of being canned for poor job performance, he was given a 210 MILLION dollar severance package ... lol.
Think of how many overpriced nuts and bolts you have to get screwed on to pay for that. Have to win the lottery 5 or 6 times and once is hard enough to manage.
I once worked at a company that, after losing my job through no fault of my own (likely poor CEO performance there too) gave me a weeks pay for every year that I had put in at the company.
So for Mr Nardeli to get 210 MILLION for 2 years service he would have to have been being paid weekly the amount of ...
Oh yeah, that sounds about right. Never mind.

[Warpy]

1. He got it by canning all the knowledgeable old guys

whose brains you used to be able to pick and replaced them with part time teenagers and twentysomethings who could stock shelves but not do a whole lot else. That the company STILL lost money shows you just how rotten a manager this guy really was.

It's called a platinum parachute, it's how these corporations woo "experienced" CEOs who have largely inherited one position after another by birthright plus family connections. It makes certain they will never have to cope with the effects of their incompetence.

Until and unless stockholders manage to revolt, this system of legalized embezzlement will continue.