Why do CEOs get such big severance packages? What’s the benefit to the company?
How does the collective work force bring an end to the ridiculousness that is the golden parachute? No other class of employee is rewarded for failure at the same level of work.
The last corporation I worked for is currently being sold and dismantled a few years after I left. The same year I left the CEO and CTO caused layoffs, profit loss and were "let go". Of course they each got two years compensation, two years of benefits and full vestment of all outstanding stock. Any other non executive employee would have simply been shown the door. I hate that they got rewarded for destroying a company and for the loss of jobs of so many of my friends.
After all the news of Sequoia and Paradigm investing in citadel I had a few thoughts and just share them, with you now. It's pure speculation and opinion of my left testicle. Its the one with more wrinkles so I usually listen to it.
Isn't it usually the other way round and the big guys buy the ones who provide more technology? Pretty shitty deal for Paradigm and Sequoia to bring money AND technology to the table. Sure, being part of the big player has some benefits and maybe they get access to citadels algorithms and stuff so I'll just leave that standing.
If I had to guess, I'd say it's the golden parachute play for Kenny.
Lure in some Investors to validate a high market value, then start the IPO.
Insiders sell on the spike on the day of IPO, securing a few more billions for themselves and the new investors are the bagholders. Maybe he even finds a legal way to pay back citadels clients with stocks so they can sell their shares after IPO and get their investments back.
That's how you make the most as an owner of a dying company I guess.They just pull off a Robbinghood IPO 2.0.
Any thoughts on that?
I know they are legally not allowed to sell their insider shares on IPO blabla...
Robbinghood insiders did it and maybe some day someone will slap them softly for it...
Edit: Typos
For example: Are you an AE looking to join a new company or about to? Ask for guaranteed commission the first quarter. They will most certainly come back with some sort of alternative or compromise. If they don’t - red flag.
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I know this sub is antiwork but I'll post it here so you can see what you CAN achieve.
It's called golden parachute and it's pretty common in company I work for, that's based in Czechia, Europe. When you work for this company for many years they have to (by law and collective agreement) pay you X amount of your monthly wage if they fire you. I'm talking about numbers like 3x of you monthly wage for every 5 years in company.
And that's basically what they do. My colleague and my ex-mentor went to retirement last month and he has been in the company for about 40 years. From school to retirement. And on his last day he was (with all finesse) fired and recived about 20x his monthly salary. He was also given expensive watches with his name. That's how you treat loyal employees. That's golden parachute.
Interesting timing of this employment contract for the CFO which says he gets 18 months of his salary paid if there is a change of control of the company and gets fired:
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001175680/000119312521293326/d215100d8k.htm
Hello, kinda out of left field but I'm writing a short story that features a character skydiving with a parachute made out of gold. Solar sails use gold so it doesn't immediately seem impossible. Aside from the obviously ridiculous cost, would this be physically possible? Thanks.
If you're shipping tons of food for chickens to your house you're not really that self sufficient. Learn how to attract insects. Poor people have this skill down in spades. let grass grow and have a dilapidated living room
