Off-Topic: The Parachute

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	Name:	GoneFishin -
	Subject:	The Parachute
	Date:	9/24/2008 8:49:43 PM

The terms of a contract for a CEO is determined and voted upon by the Board of Directors. The Board for the most part is made up of fellow CEOs who have, likewise, a contract that includes a parachute.

Then you reorganize and outsource the jobs, cut expenses, play with the numbers and receive a fat bonus. The following year the noose begins to tighten cause the stock is still flat.

So, you consolidate the remaining plants and buy yourself more time. Another bonus but the stock goes down. The board allows you to resign so you can spend time with your family since all CEOs believe in strong family values. While you leave for the lake the parachute begins to descend on your house on the ridge. The govenment decides they need to bail out the Company so they take over 85% ownership and your parachute is now guaranteed by the US Treasury. Only in America with a Republican president.