Don't you mean

Many here call it "Cambodian Tire"!

Check this out ... I heard today that ex Target CEO Gregg Steinhafel received a �walk-away� package of about $61 million US.

That�s actually more than the combined severance packages of the 17,600 employees let go!

http://www.cbc.ca/news/business/target-s...rkers-1.2927893

Good for him!

If the shareholders are okay with it (since they own the company), why not? Get the best deal you can when you can!

It wouldn't inspire confidence in the economy if it operated like that. It doesn't even follow according to what you rationally think would happen: your pay is based on your performance as if there were a meritocracy. Sure, they are free to do what they wish: reward astounding executive pay for failure, and then everyone else is just tossed. That is dysfunctional. If this were Japan, that guy would be on his knees begging for forgiveness. Other than the freedom to do it, what argument is there that you would be happy to pay your top guy that much for not succeeding?

Why are CEO's rewarded for failure? That's an aspect of modern corporate culture that I'll never understand. If I was a major shareholder of Target there's NO WAY I would have voted in favor of that 61 million severance.

Sony closing Canadian stores

Is the economy going down in Canada? Granted these are specialty stores.

Sony has stores? I thought all of their consumer electronics was sold via third party retailers?

that was the first I heard of them too

Sounds like Sony made the same mistake that Gateway (remember them?) did.

haha, I remember them as a computer company, I never knew they had a store front...

Bauer Hockey, the company I work for is opening it's first store in MA just out side of Boston this summer. Looking at opening up 8-10 with 4-5 I'm guessing opening in Canada as well. Shouldn't be any different than DELL or NIKE outlets.

Their stores didn't last long. I think they first opened around 1999 and they were gone a couple of years later.

I owned stock in a company that fired its CIO before even two years of completed service with the company, we evidently paid him 60 million (sounds like an industry standard) to go. As only a common stock holder, I had no voting stock, otherwise I would have voted against that, I would have said to return the money to shareholders or invest in the company before we paid someone that much to do nothing.

Sony stores have been around in Canada for something like
thirty years, though I never really paid close attention,
so they might have come and gone multiple times during that
period. I remember a shop on Broadway called Miller's Music
that sold stereos and records in the mid seventies, and it
became a Sony store (sold out, or bought into a franchise,
I have no idea). Later I encountered Sony stores in malls
at different times in the intervening years.

So Target's CEO got a big bonus for screwing up. I'm with Panzer ..I just don't get it, and IMO it's another perversion of modern western "industry" and why we will fall behind the emerging nations. Once upon a time . the CEO was responsible and was compensated for success, now it seems that they can (quite literally) bankrupt the company and still get an obscene bonus.

I wonder what would happen to an Indian or Chinese CEO who presides of a FUBAR like Target ?

They literally paid the CEO to GTFO before they trashed the company any worse.



The Jedi Master