The Boston Globe, on Tony Hayward’s $18,500,000.00 severance pay for performance package from Buccaneer Petroleum:
Hayward’s exit package speaks to a broader problem. Corporate CEOs are rewarded handsomely in good times. In bad times, they’re rarely penalized to the same degree. In any sane accountability system, overseeing the degradation of a major arm of the Atlantic Ocean would disqualify Hayward from a golden parachute many times larger than the average worker’s lifetime earnings.