AT&T boss retires with $274,000 a month for life
https://www.marketwatch.com/story/att-b ... yptr=yahoo



This right here is the problem in our capitalist system. You have a crappy CEO who made horrible investment decisions for the company (AT&T) and when he gets fired (IE early retirement) gets such a egregious large golden parachute over the regular employee in which it doesn't matter if the executive does the company well or not the executive always wins at the end. While a regular employee fucks up at the job he/she will get the door without a penny more to their name. We have such disparity between executive pay vs. the regular worker over the past 30 years its gotten so crazy. No one deserves to make 1000 times the average worker salary (no matter what there responsibility is). We in society put these scumbags on a pedestal but treat the average worker as a disposable person.

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"You know 'that look' women get when they want sex? Me neither" ~Steve Martin

What's to DB? He worked hard and did all the things he needed to do and he is reaping the rewards. If you could do what he could do you'd be making the same amount of $$$.

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i guess that's why private sector pensions dont exist much anymore.

you'd have thought they would have found a way to fire him with cause to get out of it? i mean u-verse should be enough reason

That prick is in the running for douchebag of the year.

Something really has to done to rein this kind of crap in.

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There are only two examples of infinity: The universe and human stupidity and I'm not sure about the universe.

i don't get it, everything seems to be in order here... isnt this how you do pensions?

we need wealth caps. im not talking about people that make less than $274k a year. Talking about people that make $274k a month. theyll never vote for that though, every single senator would get fucked.

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the world will always the world. your entire existence is defined by your response.

For privately owned companies, I have no problem with it. Publicly traded companies on the other hand that is completely obscene. Especially when the company is discussing layoffs. As usual.

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There are only two examples of infinity: The universe and human stupidity and I'm not sure about the universe.

If you're a youngin and starting your career - go the 'BE A CEO ONE DAY' route.

It proves again and again it's a great way to earn a ton of money while being a scumbag.

Maybe you should buy some stock and vote against it? Ike can be your proxy.

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I haven't held T in years. It was a milquetoast company back then as well.

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There are only two examples of infinity: The universe and human stupidity and I'm not sure about the universe.

Executive pay packages at publicly traded companies are usually voted for by board of directors which you guessed it are made of former and current executives of other companies. They always vote in there best interest to increase executive pay packages (argument to retain talent at that level). Its basically a good old boys network where only a very few individuals are on boards but those individuals are usually on multiple company boards (not just 1) and more times than none vote for egregious pay packages that includes crazy golden parachutes!

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"You know 'that look' women get when they want sex? Me neither" ~Steve Martin

I completely agree.

Our recently "retired" CEO was in the role for 5 years. Company completely slid the entire time. There were industry and market forces that were beyond his control, but he also made every mistake possible along the way, as well. These suits all have contracts with out clauses. 24 months paid severance.

I'm all for free market and I fully accept and understand the world isn't fair....still.....this shit happens with EVERY fucking company and it's unacceptable. Especially as you said.....while countless people lose their jobs with NO severance at the same time.

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Something something job creators!

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Be well

GO BEARS!!!

Yep!

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There are only two examples of infinity: The universe and human stupidity and I'm not sure about the universe.

I own the stock. Love the dividend.

The company has a public market value of over $200B. If he moves the $30 share price by one dollar, the company’s value goes up by about six billion. That’s the context for executive pay like his.

The levels of compensation for often poor performance is absurd. But when you consider the value of what they are running, and the number of people they are managing, it is really no worse than what a movie star or pro athlete makes.

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Hawaii (fuck) You

When I realized that it had a ridiculously consistent trading period of about $12-15, I'd buy and sell it based solely on the range. Usually took about a month.

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There are only two examples of infinity: The universe and human stupidity and I'm not sure about the universe.

So that's $3.3m a year, which is about a quarter of what the Bears gave to Jimmy Graham as basically a retirement gift.

Or three times' Bobby Bonilla's 'pension,' which isn't awful adjusting for cost of living.

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"When people want their version of the truth, they go find it, no matter how baseless their beliefs." -- Ken Rosenthal

Good for him. That's just a fraction of the value he delivered in his 13 years at the top.

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“When I walked in this morning, and saw the flag was at half mast, I thought 'alright another bureaucrat ate it.'" - Ron Swanson

He must have billions for those who hold his stock in 401K plans.

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Care to explain?

That's some Grade A bootlicking right there.

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by value, you mean $160 billion+ in long-term debt at the end of 2019.

As a CEO his accomplishments are:
- $50 billion bet on satellite distributor DirecTV in 2014.
- $85.4 billion acquisition of Time Warner.
- Stock price has not moved in 10 years (compare to T-Mobile or Verizon)
- AT&T has been rated the worst carrier of all carriers by Consumer Reports.
- Lack of investment to compete against Comcast in High Speed Broadband market (still offer slow DSL in most markets)

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"You know 'that look' women get when they want sex? Me neither" ~Steve Martin

The DirectTV acquisition is a disaster. $50B set on fire.

Yeah, that's not what I'd call a very good resume. I'm sure there's more to it than that, but again.....how many employees get canned or position eliminated with ZERO.

These clowns make enough DURING the active time as CEO to live wealthy for the rest of their lives.....not to mention their VP years leading up to it, which also carry the similar benefits and compensation. Again....I get there are have and have nots, but these parachute packages are beyond free market and are unacceptable. There should be caps. We haven't even touched the stock dollars they leave with, as well.

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Sounds like someone wants a helicopter ride.

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I don't need a golden parachute....I'm good. Consistent standards would be nice, though.

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Ogie, help the man understand.

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AT&T revenue in 2006, last year before he took over: $63.05B
AT&T revenue last year: $181.19B

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“When I walked in this morning, and saw the flag was at half mast, I thought 'alright another bureaucrat ate it.'" - Ron Swanson

Those dividends and all else don't just materialize.

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Elections have consequences.