Ousted CEO receives millions for 11 months work

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How would you like to be paid millions for 11 months work? That’s what ousted Hewlett-Packard CEO Leo Apotheke pocketed.

Check out this Wall Street Journal blog report.

A more recent WSJ report here.

That package is all the more remarkable when you consider that during his tenure, H-P’s share value plunged.

Those big bucks that Leo received, however, pale into comparison with the hundreds of millions pocketed by those who gave us, and continue to give us, the Global Financial Crisis.

Meanwhile, many governments lie supine before the lords of finance, watering down every new regulatory proposal, imposing austerity on the people while many among the wealthy get away with a much lower effective tax rate than ordinary working people.

And we have people who argue that these top executives deserve their pay because of their ‘talent’ (or is it ‘connections’?), while the poor working people, the ones who feed us, house us and clothe us, must prove their ‘productivity’ in the face of shamefully low basic wages!

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Dexter
Dexter
17 Oct 2011 11.03am

Top 1% of umnoputera controls 25% of bumiputera equity!

Yen
Yen
14 Oct 2011 6.15pm

“Inside Job” of Charles Ferguson, a must-watch!

Qabilah
Qabilah
14 Oct 2011 2.47pm

Anil

Please put priority on domestic matters tha affects rakyat, instead of those wall street matters.

Maybe you are happy with Najib’s 2012 budget?
Why o debate on this matter?

tuakee
tuakee
14 Oct 2011 4.24pm
Reply to  Anil Netto

KLCI and Wall Street are not corelated in terms of stock performance trend.

If Wall Street is greed-driven, then KLCI is the same and also not fundamentally but sentimentally driven ???

Phua Kai Lit
Phua Kai Lit
14 Oct 2011 10.18pm
Reply to  tuakee

Prof Jomo KS notes that ruling regime in Malaysia always manipulates the stock market in order to raise funds whenever a General Election approaches.

Rabiah
Rabiah
16 Oct 2011 11.06am
Reply to  Anil Netto

Qabilah is saying that Wall street is doing damage to US citizens.

But in Malaysia BN is doing damage to rkayat.

So we should be more specific!

Phua Kai Lit
Phua Kai Lit
14 Oct 2011 8.41am

“Golden parachutes” is the term they use in USA for this.

http://www.commondreams.org/

Syiok Syiok
Syiok Syiok
13 Oct 2011 1.53pm

Gaji/bonus of local CEOs not too bad either.
With such meritocracy in place, these folks can help to transformasi Msia ekonomi ?

http://beritasemasa.com/gaji-ceo
CIMB Bayar Gaji Nazir Razak RM 12 Juta Tahun Lepas

kittykat46
kittykat46
13 Oct 2011 1.35pm

I’m sure (a certain) beloved Prime Minister made more than that last year (in reality).

sunnyooi
sunnyooi
13 Oct 2011 1.08pm

That is capitalism. What other ideology can overcome this?

Yang
Yang
13 Oct 2011 2.12pm
Reply to  sunnyooi

Real Karl Marx Communism

sunnyooi
sunnyooi
14 Oct 2011 8.21am
Reply to  Yang

Then the next question would be, are we ready for it?

Eloi
Eloi
13 Oct 2011 2.14pm
Reply to  sunnyooi

This is proof that capitalist rule the world and the global recessions that people are suffering is their doing. Looks like global recessions are here to stay. Profits before humanity is going to bring Our world to its knees.

Syiok Syiok
Syiok Syiok
13 Oct 2011 12.56pm

The Rise and Fall of Mark Hurd as H-P Chief