Golden parachutes let CEOs land on feet.

From: Contra Costa Times (Walnut Creek, CA) | Date: May 28, 2006 | Copyright information

Byline: George Avalos

May 28--Amid a number of corporate acquisitions in the Bay Area, top executives who lose their jobs because they sell their companies have an escape hatch that remains shut to the rank and file: the golden parachute. These executive pay perks remain in vogue despite several years of corporate scandals and heightened scrutiny by Congress, the White House, regulators and compensation analysts. Handsome severance packages for local executives have landed in the limelight as Bay Area companies get gobbled up. Novartis has bought Chiron Corp., Walt ...

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