Posted by
Matt Berry on Friday, November 21, 2008 3:34:37 PM
I have no doubt there are lots of people out there who can’t stand to see the extravagant benefit packages given out to CEOs of failed companies verging on the brink of total failure. There the executives are, comfortable with their “golden parachutes,” telling their employers “sorry” for losing their retirement savings. They watch as the shareholders sell their shares of the company, many times for only a fraction of what they paid. These executives were indeed in charge, but all has fallen apart.
So, what do they do then?
Not what a person would expect. Many take corporate meetings in extravagant locations around the world, usually before “bowing out” – resigning, as they won’t be fired – with, many times, as much as tens of millions of dollars as “bonuses.”
Do they feel entitled to it after squandering so much? After making so many poor judgments?
I certainly don’t have a clue. I know that’s more money than I’ll ever see. There just doesn’t appear to be that much accountability.
Attempting to relate, I certainly remember my first job. Barely even a teenager, I was a common stock-boy at a local convienece store called Happy Harry’s one summer. Not much money, but work. Then, one afternoon, the manager called me back to his office.
“Matt,” he calmly said to me, seated in his chair. “We’re going to let you go. We just don’t think you’re Happy Harry’s material.”
I was crushed, and I had no clue why. Not even Happy Harry’s material? If I can’t even cut it here, I asked myself, what can my future possibly hold?
Yes, that was it for me. I can only guess my manager had held me accountable for something or other and, whether I liked it or not, my days at Happy Harry’s were over.
But I wasn’t given a few million to “leave quietly.” Not me. The company didn’t fly me down to any fancy Mexican resort to break the news to me softly. I didn’t even get a hotel in Dewey or Rehoboth.
So, am I still owed something? Could I still be owed millions of dollars from Happy Harry’s? I mean, hey, I left quietly. Of course, I didn’t have choice in the matter, but I still didn’t complain as I walked out the door.
Maybe some of these CEOs need to work for Happy Harry’s. Well, maybe not Happy Harry’s, but Walgreens would do just fine. I’m pretty sure they have a similar policy of being held accountable….