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> Even if Yahoo’s board fires her, her contract stipulates she gets $54.9 million in severance. [...] In other words, Mayer can’t lose. [For the rest of America
by zeteo 10y ago
> Even if Yahoo’s board fires her, her contract stipulates she gets $54.9 million in severance. [...] In other words, Mayer can’t lose. [For the rest of America] wages are shrinking, median household income continues to drop, workers are fired without warning, two-thirds are living paycheck to paycheck and employees are being classified as “independent contractors” without any labor protections at all.
> Before we go to the barricades, you should know about another CEO named Hamdi Ulukaya [...] Last Tuesday Ulukaya announced he’s giving all his 2,000 full-time workers shares of stock worth up to 10 percent of the privately held company’s value when it’s sold or goes public
This is comparing apples to orange socks. The issue at hand is the safety net. If she gets fired, the underperforming CEO gets enough money to continue her lifestyle - perhaps indefinitely. The Chobani employees get a little more upside, but their downside is pretty much the same. E.g. they're still in deep sh*t if the company does badly.
- dkarapetyan 10y agoWait what? Are you seriously poking a hole in the argument by saying it's fine because CEOs are just used to being rich?
- zeteo 10y ago>Are you seriously poking a hole in the argument by saying it's fine because CEOs are just used to being rich? That's pretty much the opposite of what I'm saying.
- dkarapetyan 10y agoKinda hard to parse your argument then because > This is comparing apples and orange socks. The issue at hand is the safety net. If she gets fired, the underperforming CEO gets enough money to continue her lifestyle - perhaps indefinitely. I guess you're saying the comparison isn't even fair because it is completely different playing fields but it's hard to parse that from the above sentence structure.
- zeteo 10y agoYahoo does badly -> CEO still does well. Chobani does badly -> employees' Chobani stock is also doing badly. Giving more stock to employees is not a safety net.
- charlesdm 10y agoPart of why she was able to negotiate that severance was probably also because she was well compensated at Google, and just said no unless they'd make her a good offer.