Those CEOs and CFOs have contracts with the companies that specify what their golden parachute will contain. I'm not sure how specific they are. My husband has a contract with his company, but it's not very detailed. When you're talking millions in salaries and benefits, there had better be a contract of some kind!

Those CEOs fall into some kind of special categories for officers of a company, and my husband falls into the salaried employee category, I think. So, labor laws and such do not apply to them like they apply to my husband. For instance, we work in an at-will state, which means he can quit or they can fire him for no reason at all. I am sure the contracts of the CEOs override all that, because of their status with the company and how the fall in the labor laws. They're not labor--I would guess they're some kind of contractor, officer, something else. I'm not explaining this very well.

Don't get me wrong--I don't think the golden parachutes in these deals are fair to the American public. But there is someone out there who can explain why it is in the best interest of the company to honor the contracts with the CEOs a closely as possible, and it seems to make sense to Congress.

Karen



Karen