| Looks like it pays pretty well to be the ex-CEO of one of the largest meatpackers. Dick Bond is leaving Tyson Foods with a contract worth $9.2 million: $5.7 million over the next 10 years, full benefits, $85,000 per year in life insurance premiums... plus 25 hours a year of personal use of a company plane for 3 years, a cell phone, and a 2009 Mercedes. This is in return for advising Tyson up to 20 hours per month for 10 years.
Tyson is one of the top four largest firms in each beef, pork, and chicken. You've gotta wonder about the size of their carbon footprint... we'd probably make a huge dent in solving global warming if we were able to just snap our fingers and make Tyson disappear. But instead, they're around - and they're making enough money to give their departing execs millions of dollars plus a Mercedes to boot. I wonder if people like that realize that the rest of us have to worry about whether or not we can afford COBRA when we leave a job?
Apparently Bond fell out of favor with the Tyson family because he was unwilling to cut chicken production. Tyson just reported a fiscal first quarter $112 million loss. Amazing that they think Bond's advice is worth $9.2 million... unless they plan to listen to what he says and then do the opposite |
