Is ‘Negotiating 301’ a secret class?

Is ‘Negotiating 301’ a secret class?
 
Date April 06, 2006
Section(s) Opinion
Brief  
 
To the Editor:

I’m glad to see I’m not the only one stunned by how CEOs today earn a living. I’m curious … is the 12 million dollar “Career Change Package” in addition to the previously reported $20 million bonus he received for successfully selling Maytag?

I am just weeks away from completing a business degree and it leaves me to wonder — did I miss a class somewhere? Is there a secret “Negotiating 301” that’s not listed in the campus catalog and is there an apprenticeship program? How does one become so confident/arrogant to demand such outlandish contracts and “golden parachutes?” Obviously, Lloyd Ward and Ralph Hake were star pupils in this class.

Once upon a time, there were still men with a conscience in business. In 2001, Steve Appleton, the chairman and CEO of Micron, opted to forego his $800,000 salary until his company could post a profit. He continued to not draw a salary from the company until December of 2003. Now Mr. Appleton’s compensation package tops $1.5 million. That is how a CEO should be compensated — demostration of loyalty and dedication to your business, something Maytag hasn’t seen in years.

Although the future looks grim, I’d like to keep a positive outlook and hope Whirlpool can bring a little integrity back into our community.

Kristina Modlin

Newton

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