patrick.net

I'm only going to be impressed if he can manage to pay less than 10% taxes on that money.

turtledove says

I'm only going to be impressed if he can manage to pay less than 10% taxes on that money.

hahhaa, well it certainly was not "earned wages", so that will help

If he pays any tax & doesn't get a tax credit, he's an abject failure.

JH says

Former chief operating officer Henrique de Castro left Yahoo with a severance package worth $58 million, according to a regulatory document filed Wednesday with the SEC.

The golden parachute is among the most generous in history, and especially notable given than de Castro worked at Yahoo for only 15 months.

Yep, capitalism makes perfect sense. That's the free hand of the market giving the middle finger to eveyone who actually works and produces wealth for a living.

In 15 months this guy got more than your entire family will earn in six generations. What exactly did he produce to warrant this? Out of whose pocket did this payout come from? The employees, of course.

All the employees should resign just to speed up their downward spiral into irrelevance.

Dan is right, the employees and shareholders were absolutely robbed.

CrazyMan says

All the employees should resign just to speed up their downward spiral into irrelevance.

If they also got severance packages 100x their salary...

I wonder if I started doing a shitty job for a mere 15 months, could I get a 100x retirement, also? Is this standard practice in the SFBA? No wonder your shacks cost so much.

That's it... I need a raise.

EastCoastBubbleBoy says

That's it... I need a raise.

Try sucking at your job. Worked for him.

yahoo is so lame.
now I read that what's her name is trying to convince Apple to make yahoo search the default search for iPhone/macs/safari

oh brother, I hope Apple stays away from Yahoo.

Who cares? As opposed to the money the Fed has been printing this is yahoo's money. This information is public, as are mgmt compensations, if shareholders and employees want to take this crap then so be it. They have great technology, but business wise I wouldn't touch yhoo stock with a 10 ft pole. You got your bailouts and QE ad infinity, so don't complain that the excessive executive management salary party was resumed right away after a brief halt in 2008 - it's 1999 again! ;)

clambo says

oh brother, I hope Apple stays away from Yahoo.

It would be a perfect match.

mell says

As opposed to the money the Fed has been printing this is yahoo's money.

...

mell says

You got your bailouts and QE ad infinity

You pay taxes? This is your money. Even if you don't pay taxes, you are paying in the form of a deflated dollar.

JH says

You pay taxes? This is your money. Even if you don't pay taxes, you are paying in the form of a deflated dollar.

Way too much taxes, it's fucking robbery. What I was saying that you would not see this sort of compensation if it wasn't for the bailouts and cheap credit because any company who would attempt to do so would go bust against more economic competitors almost instantly. Yes, this is our money, but it's after the fact. You get what you voted for, more of the same. It's a one party system robbing the taxpayer.

mell says

Yes, this is our money, but it's after the fact. You get what you voted for, more of the same. It's a one party system robbing the taxpayer.

Since it is a one party system, there is no choice in voting. I always vote 3rd party in hopes of changing the system, but they are typically so overmatched it is merely a symbolic vote. Only a revolution would change our system, and the working class is too busy and overworked to have time to care about being robbed.

mell says

Who cares

I do, for those reasons. But you're right, it's not changing.

Obamas friend?

mell says

What I was saying that you would not see this sort of compensation if it wasn't for the bailouts and cheap credit because any company who would attempt to do so would go bust

Obviously you've never heard of the 80's or 90's or housing boom. Plenty of huge compensation packages happened pre bailouts. How exactly would they go bust?

bob2356 says

mell says

What I was saying that you would not see this sort of compensation if it wasn't for the bailouts and cheap credit because any company who would attempt to do so would go bust

Obviously you've never heard of the 80's or 90's or housing boom. Plenty of huge compensation packages happened pre bailouts. How exactly would they go bust?

What? YHOO - which has great libraries but nonetheless - would have had a hard time making it through 2008 without the bailouts, credit was rightfully tight and banks were calling in loan facilities. You can be sure that $58.000.000 golden parachutes would NEVER have materialized. It's the same crap the TBTFs are now peddling claiming that they have to "retain talent" with "competitive pay" AKA million dollar bonuses. It's bullshit. In times of economic boom you obviously encounter escalating pay, but certainly not during a major recession.

bob2356 says

Plenty of huge compensation packages happened pre bailouts.

Yeah, but typical loser CEOs were in the $10-15M exit strategy category back in yesteryear. Sure, they made out well, despite failing but at least the damage was contained.

Getting $58M in 1.5 years, as a dud, is becoming the new trend. It's more or less getting money to help liquidate a company but without a private equity/corporate raider firm in the middle.

Rin says

Yeah, but typical loser CEOs were in the $10-15M exit strategy category back in yesteryear. Sure, they made out well, despite failing but at least the damage was contained.

Well, this guy's was $17M until the Yahoo stock price went way up.