Drudge Retort: The Other Side of the News
Sunday, January 19, 2014

Henrique de Castro is leaving Yahoo with an severance package estimated to be more than $60 million, one of the largest golden parachutes ever given to an executive who was fired. de Castro, the chief operating officer, was shown the door by Yahoo CEO Marissa Mayer, apparently due to disappointing performance in improving Yahoo's advertising revenue. The former Google executive was only at Yahoo for 15 months.

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Those evil big oil companies....no, wait!

#1 | Posted by DavetheWave at 2014-01-19 05:38 PM | Reply | Flag:

Thats lots of tax dollars.... not sure what the complaint is here.. he didn't get cash, his shares just vested upon firing.....

#2 | Posted by AndreaMackris at 2014-01-19 05:54 PM | Reply | Flag:

And with Yahoo stock doubling in past year, no wonder the package soared. My only gripe about those stock options, is that they are priced way below market when convyed.

#3 | Posted by DavetheWave at 2014-01-19 05:59 PM | Reply | Flag:

A Metro-Goldwyn Mayer CEO walked away with $300 million on retirement and paid off a Congressman to add a rider that exempted the windfall entirely from taxes. What we live inside of has little to do with the Freedom and Democracy we sell so aggessively.

#4 | Posted by nutcase at 2014-01-19 06:07 PM | Reply | Flag:

Earnings and public reports are always announced so that stock options are awarded or posted coincidentally at the lowest (best cost) for corrupt executives, and the worst time for owners dilution.

That said. The thieves and shysters who call themselves bankers and executives (and their political shills), will always be able to corrupt and plunder our nation at will, because their exorbitant money enables them to buy immunity from real justice. Unless this is ended there will inevitably come a time when society becomes outraged enough that history will repeat itself and end the excess of greed that permeates the special few. The outrage is when the soiled but illiterate sheep complain the privileged will attempt to call them the bigots or something else.

Much of the cronyism is racist and ethno-centric based that is intended to protect their own cabal, while screwing all of those not in their privileged fold. Much is about class but more is about down right bigotry against the masses.

#5 | Posted by Robson at 2014-01-19 06:43 PM | Reply | Flag:

15 months at 4 weeks per month (not including vacation weeks) x 40hrs per week (doubt execs actually work that) = ?

I came up with 25000 per hour. Which is more than someone working min wage 40hrs per week, makes in one year.

Maybe its time for a maximum wage set by law applicable to salaried employees, but leaving leeway for the selfemployed to be successful.

#6 | Posted by aescal at 2014-01-19 09:39 PM | Reply | Flag:

These types don't get hired through the Human Resources Department. They negotiate employment contracts which include golden parachutes.

These "professional" CEOs bounce from company to company on each others coatails. It's a very lucrative profession i.e. nice work if you can get it.

It takes a long time to network your way up the ladder. I'm sure Mr. de Castro will be back in another cushy executive position as soon as the CEO Reciprocity Network swings into action. They never let one of their own suffer for long.

#7 | Posted by Twinpac at 2014-01-20 01:09 AM | Reply | Flag:

Just like pro sport coaches.

#8 | Posted by Harry_Powell at 2014-01-20 01:22 AM | Reply | Flag:

It's not just CEOs. The networking for jobs with titles takes place at lower levels, too. Competency doesn't seem to be a job requirement. It's all about who you know.

BTW, what happened to that big public hue and cry about CEO salaries and golden parachutes from a couple years ago? It appears that went poof right along with the public's attention span.

#9 | Posted by Twinpac at 2014-01-20 02:19 AM | Reply | Flag:

I still don't understand why Yahoo is still around.

#10 | Posted by rearendhat at 2014-01-20 07:42 AM | Reply | Flag:

rearend,

Yahoo is less intrusive a service than google. Google and Facebook are the private version of the NSA.

#11 | Posted by nutcase at 2014-01-20 09:25 AM | Reply | Flag:

Yahoo provides nothing. And if you think they are not in the pockets of NSA like Google and Facebook, you have been fooled or don't know much about tech.

#12 | Posted by rearendhat at 2014-01-20 09:37 AM | Reply | Flag:

Good for him. How do I get in on this scam?

#13 | Posted by Diablo at 2014-01-20 03:44 PM | Reply | Flag:

Another example of millions of stupid clueless people being led to their own slaughter while others who gain cheer them on.

#14 | Posted by Robson at 2014-01-20 07:22 PM | Reply | Flag:

#4 Link? Not that I doubt it, but I would like the details.

#15 | Posted by bored at 2014-01-20 09:08 PM | Reply | Flag:

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