6 CEOs Let Go In 8 Days - and More May Follow

[HakkaThaileen]

6 CEOs let go in 8 days - and more may follow - The Straits Times, Wed 14 Jan 2009

http://www.straitstimes.com/Breaking+News/Money/Story/STIStory_325657.html?vgnmr=1

This is the fate of the CEOs in the US when the bottom lines and stock prices of the companies they are leading are hit by the economic crisis.

When paying themselves astronomical amount of salary, our leaders like to have their salaries benchmarked against the CEOs of Morgan Stanley, Lehman Brothers...

See this quote:

"........you have to pay the market rate or the man will up stakes and join Morgan Stanley, Lehman Brothers or Goldman Sachs and you would have an incompetent man and you would lost money by the BILLIONS.....!!!!!!" - MMLee Apr 2007

So, the million-dollar salary structure came into effect...

But, during economic downturn or when the performance of our local CEOs and their equivalents fall below par, do they follow what their counterpartsare are doing in the US...?

 

[VIBGYOR]

6 CEOs let go in 8 days - and more may follow - The Straits Times, Wed 14 Jan 2009

http://www.straitstimes.com/Breaking+News/Money/Story/STIStory_325657.html?vgnmr=1

This is the fate of the CEOs in the US when the bottom lines and stock prices of the companies they are leading are hit by the economic crisis.

When paying themselves astronomical amount of salary, our leaders like to have their salaries benchmarked against the CEOs of Morgan Stanley, Lehman Brothers...

See this quote:

"........you have to pay the market rate or the man will up stakes and join Morgan Stanley, Lehman Brothers or Goldman Sachs and you would have an incompetent man and you would lost money by the BILLIONS.....!!!!!!" - MMLee Apr 2007

But, during economic downturn or when the performance of our local CEOs and their equivalents fall below par, do they follow what their counterpartsare are doing in the US...?

do they have generous lay off packages?