Or do too many CEOs just engineer deals that fatten their own wallets?
If anyone wonders why many people are cynical of all the merger activity going on again, this item from GMSV (see below) will provide some insight:
Capellas donates new wing to Golden Parachute Museum
When he left HP in 2002, he received $14.4 million in severance, plus a $1.9 million incentive payment and $9.6 million to cover his taxes on the payments. When he took over MCI, he received a $2 million signing bonus. Now comes word that Capellas is entitled to a $39.2 million payout when leaves MCI after its pending $8.4 billion merger with Verizon. According to an MCI proxy statement filed Thursday, Capellas will receive $11.3 million for three years’ worth of salary and bonus; $18.5 million from a previously disclosed restricted stock grant; and $9.4 million in payments to cover the taxes on his exit package.
I wonder how many of his millions Capellas is donating to the victims of Katrina?