[Culturechat] Now, THAT is refreshing

[Vance Roy]

The Credit Suisse Bank announced in November that they had lost 1.5 
Billion US$ in the third quarter of 2002. With that, the head man was 
pushed to leave. He has now departed and has been replaced by two men, 
one a Swiss and the other, an American (one in six big company 
executives in CH is from the USA).

The former big boss only pulled in 15 million CHF last year, so he 
isn't eating pork and beans with Spam on Sundays. In a magnanimous 
gesture, he opted not to take a golden parachute or handshake. He does 
get his salary until 31 March. This still is a lot less than two 
"retiring" executives at ABB, who got 233 million CHF severance 
packages, or the former head of Zurich Financial Services who pocketed 
a 6 million CHF goodbye present.

Big business seems to be the only place that rewards its executive 
incompetents.

Vance Roy
gigli.saw@dplanet.ch
http://homepage.mac.com/fredch