Good News: You're Fired
Tags: SEVERANCE pay; MORGAN Stanley & Co. Inc.; CRAWFORD, Stephen; PURCELL, Philip; EXECUTIVES; STOCKS (Finance); INCOME; LAYOFFS; GOLDEN parachutes (Executive compensation)
Related Articles
- Good News: You're Fired. Gasparino, Charles; Joseph, Nicole L. // Newsweek (Pacific Edition);7/25/2005-8/1/2005, Vol. 146 Issue 4/5, p6
Focuses on the expensive pay packages that many executives have gotten after being fired or resigning. Outrage of shareholders at Morgan Stanley for the pay deals that have been created for former executives Philip Purcell and Stephen Crawford; Decrease in the price of Morgan Stanley stocks;...
- Good News: You're Fired. Gasparino, Charles; Joseph, Nicole L. // Newsweek (Atlantic Edition);7/25/2005-8/1/2005, Vol. 146 Issue 4/5, p6
Focuses on the expensive pay packages that many executives have gotten after being fired or resigning. Outrage of shareholders at Morgan Stanley for the pay deals that have been created for former executives Philip Purcell and Stephen Crawford; Decrease in the price of Morgan Stanley stocks;...
- Ordinary Shares and Managers. Strausz, Roland // Journal of Economics;Jan2006, Vol. 87 Issue 1, p1
We argue that ordinary shares undermine any inherent commitment of its holders to resist renegotiating away ex post inefficiencies. Yet, in a dynamic adverse selection problem, such ex post inefficiencies are optimal from an ex ante point of view. We show that shareholders may use a manager in...
- Executive Pay Trends and Golden Parachute Tax: A Collision on the Horizon. Johnson, David G. // Benefits Quarterly;2004 First Quarter, Vol. 20 Issue 1, p30
Ironically, many corporations will likely discover that tying equity-based executive compensation more closely to performance will cost millions of dollars when there is a merger or acquisition. The reason: internal Revenue Code Section 280G, which is designed to discourage "excess" parachute...
- 'Golden Parachutes' Up in Financial Downturn. // Financial Executive;Apr2012, Vol. 28 Issue 3, p11
The article summarizes a study by the tax-advisory unit of professional-services company Alvarez & Marsal that found an increase among companies in the incidence of golden parachute severance plans for executives.
- An examination of stock returns to firms adopting golden parachutes under certain conditions. Hall, Pamela L. // American Business Review;Jan1998, Vol. 16 Issue 1, p123
Deals with the effect of a golden parachute adoption upon stock returns for those firms having pre-existing takeover interest. Event analysis; Metric explanation model; Stock price results during takeover announcement and golden parachute announcement dates.
- The impact of golden parachutes on Fortune 500 stock returns: A reexamination of the evidence. Mogavero, Damian J.; Toyne, Michael F. // Quarterly Journal of Business & Economics;Autumn95, Vol. 34 Issue 4, p30
Reexamines the effect of golden parachute adoptions on stock returns from 1982 through 1990. Competing hypotheses of golden parachute adoption; Investor sentiment toward golden parachute adoption; Change from positive to negative of stock returns associated with golden parachute adoptions.
- They call it "change in control" Quinn, Richard D. // Employee Benefit News;4/15/2005, Vol. 19 Issue 5, p9
Comments on the controversy involving chief executive officers (CEOs) who receive generous severance payments and pensions for their role in merger or acquisitions. Illustration on cases of CEOs involved in this kind of deal; Discussion on the issue of reasonableness of the payments and...
- How Bailout Will Affect Executive Compensation. Poerio, Mark // American Banker;10/10/2008, Vol. 173 Issue 197, p11
The author discusses the large bailout bill that was approved by the U.S. Congress in 2008, and questions how bank executives will be compensated by it. The bill is clear that executives will not be paid for unnecessary risks that cause the company to fail, but it does not say exactly how much...
