71–80 of 211 posts
Bravo to the directors for waking up. Any time there's a long-serving CEO of a big public company, it's as if the directors have been chloroformed. They generally show no ability to question the boss, let along hold him/her accountable for anything. Most of the other boards that should be waking up ... probably won't. But at least they've got a reminder that it's possible.
Whatever. Will he get a nine-figure golden parachute like the other senior exec who just left? If not, this does not impress me. Will any of his earnings and bonuses be clawed back? If not, this does not impress me. What about the other execs responsible?
I highly recommend listening to a recent episode[1] of Planet Money. This was by no means an accident. As a short summary of one employee's plight: Ashley, working for them and making only $35k per year in San Francisco, was continually harassed to sign people up for accounts they didn't want. An old man comes in, pensioner, $200 in overdraft fees due to being duped into excess accounts. She dips into her own savings…
>>ripping apart the lives of employees and customers You don't think that's a teency bit mellowdramatic? That description seems perfect for Bernie Madoff, Enron, et al.
I highly recommend listening to a recent episode[1] of Planet Money. This was by no means an accident. As a short summary of one employee's plight: Ashley, working for them and making only $35k per year in San Francisco, was continually harassed to sign people up for accounts they didn't want. An old man comes in, pensioner, $200 in overdraft fees due to being duped into excess accounts. She dips into her own savings…
"permanent blacklist"? That sounds like the High Tech Employees Lawsuit case, but a much easier win for a more sympathetic class of victim.
I highly recommend listening to a recent episode[1] of Planet Money. This was by no means an accident. As a short summary of one employee's plight: Ashley, working for them and making only $35k per year in San Francisco, was continually harassed to sign people up for accounts they didn't want. An old man comes in, pensioner, $200 in overdraft fees due to being duped into excess accounts. She dips into her own savings…
>>ripping apart the lives of employees and customers You don't think that's a teency bit mellowdramatic? That description seems perfect for Bernie Madoff, Enron, et al.
Earlier quoted context omitted.
"Financial details of Stumpf's retirement plan are unknown, but Equilar estimates he walks with $134.1 million from retirement. The package remains that large even after Stumpf last month agreed to a $41 million clawback following a grilling he received from the Senate Banking Committee reprimanding him for not taking responsibility. He agreed to give up unvested stock, but still owns shares vested in previous years.…
How do you "give up" unvested stock?
Edit: If you are a C-level executive, your contract may stipulate that you get unvested stock, even if you're fired. It's possible that John Strumpf chose not to exercise any such clause, but I strongly doubt it. The man is a psychopath.
#downvotedwhiletrue
> Please resist commenting about being downvoted. It never does any good, and it makes boring reading.
Earlier quoted context omitted.
"permanent blacklist"? That sounds like the High Tech Employees Lawsuit case, but a much easier win for a more sympathetic class of victim.
Not to be overly dramatic but I would imagine it depends on who the jury sympathizes with.
Earlier quoted context omitted.
it's hit or miss, but I rarely have to do incognito for WSJ
I think they cookie you on the direct link hit, so going back and doing the web link doesn't work without incognito (IME).