25 July 2019

Not Enough Bullets………

After making a complete dogs breakfast of his time at Equifax, Former CEO Richard Smith has secured a $20+ million payout to leave:
For a majority of workers, failure at the workplace is deeply frowned upon and frequently incurs the ultimate penalty—dismissal, usually accompanied with a pittance for severance pay. Yet, in many ways, corporate executives remain above the rigmarole of a pay-for-performance model. A blue-chip executive can run a company to the ground and still be guaranteed a big payday in the form of a multi-million dollar golden sendoff. A few days ago, Equifax Inc., one of the largest consumer credit reporting agencies on the land, made headlines after agreeing to pay a total of $700 million to the U.S. government for claims tied to a massive data breach two years ago.

The data breach will go down as one of the largest ever after private information including social security data from 150 million consumers--about 56 percent of America’s population--was compromised.

………

Former CEO Richard Smith, on the other hand, is set to collect ~$19.6 million in stock bonuses that cover part of his performance in the year the hack took place, not to mention a generous offer to cover his medical bills for life; a $24-million pension and $50,000 in tax and financial planning services.

That’s roughly 1,000x the maximum payout to affected customers.
Seriously, I am sick to death of the heads I win, tails you lose bullsh%$ corrupt business management in America.

By all rights, this guy should be asking, "Do you want fries with that?"

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