Golden Parachute

Got my 1099-misc from the DEL today for all childcare payments made to me through the State of Washington in 2008. Noticed a box for excess golden parachute payments.

Now there's a good idea.

Don't you think we should all get golden parachutes? Exorbitant payments made to us when employers change and we become unemployed through no fault of our own?

Although . . .

Aren't all those CEO's supposed to keep the company so healthy that there is no need for hostile takeovers and such?

Isn't that what a CEO does? Wait–I'll wikipedia the term–okay, yeah, pretty much:

"Proponents of golden parachutes argue that they provide three main benefits:

  1. Golden parachutes make it easier to hire and retain executives. . .
  2. They help an executive to remain objective about the company during the takeover process.
  3. They dissuade takeover attempts by increasing the cost of a takeover, often part of a poison pill strategy."

Hmmmm.

Okay, so 1. apparently being CEO is such a dirty occupation they have to bribe people to take the job. 2. Wouldn't guaranteeing a man millions of dollars if the company is taken over a surefire way to make a man think seriously about working toward that very end? 3. Bull.

My personal take on a topic I know nothing about.

But hey, somebody offer me a golden parachute, why don't they? I'll even pay the 20% excise tax on the excess amount without complaining. 

 

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