More Executives Are Making Well-Cushioned Departures ;`Golden Parachutes' Mean Millions in Cash

From: The Washington Post | Date: June 28, 1987| Author: Cindy Skrzycki | Copyright information

In the end, it seemed as if Richard J. Ferris, chairman of Allegis Corp., couldn't do anything right. But when the day came for his ouster from the company he had been with for 17 years, he floated quietly away, his "golden parachute" unfurled-all $3 million worth of it.

It wasn't a reward for outstanding performance. In the last few months, it became clear that Ferris had big problems. From the inner sanctum of Wall Street to his own pilots' union, there was opposition to his plan t...

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