In Japan, 20X; Germany, 14X.

Odd definition of 'forced out'

November 27, 2007

BY Zay N. Smith Sun-Times Columnist


QT Trickle-On Economics Update:

Citigroup, whose CEO was given an exit package worth $29.5 million when he was forced out because of losses, is considering plans to lay off as many as 45,000 workers to cut costs.

A minor technical point, Charles Prince, former CEO of Citigroup was not given the money to resign it was part of a pre-negotiated contract at the time of his hiring.

Therefore the real problem is what U.S. companies pay their CEOs to get them to come on board. Why do we believe in the U.S. that competent CEOs can't be found without paying them astronomical amounts of money? Foreign CEOs work for less and are equal, if not superior, corporate strategists.

Interesting website. Allows you to find the executive pay of publicly traded companies. Hosted by the AFL-CIO.

2007 Executive PayWatch