What TonyHayward gets for leaving BP job:
"On top of the payout, Hayward retains his rights to shares under a long-term performance program which could eventually be worth several million pounds if BP's share price recovers. The stock has lost around 35 percent, or $60 billion, in market value to around $116 billion since the well explosion. The stock started out marginally higher on Tuesday, but was trading almost 1 percent lower at 413.35 pence in afternoon trade on the London Stock Exchange.
Hayward, who will remain on the board until Nov. 30, will also be entitled to draw an annual pension of 600,000 pounds ($900,000) from a pension pot valued at around 11 million pounds."
4 comments:
Sounds a lot like the pension I got upon retirement.
What in the world would you do with $900,000 a year? But, then of course, you'd have to pay more taxes. Oh, wait. Actually you would pay less tax. See, then you would have even more to figure out what to do with.
It's all too much. There is only one thought my poor brain is capable of forming these days in response to all the crappy goings-on in the world - "What is the matter with people?"
I know Hayward's unpopular, but I actually give him credit: He was consistent from Day 1 in saying that BP took responsibility for the mess. While they have been a bit heavy-handed, they did indeed pour a ton of money into cleaning this up, and continue to do so. They have not left themselves any wiggle room when it comes to the cleanup. Contrast this with Exxon and the Valdez incident.
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