Yahoo’s Ousted COO Walks With $58M

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Can someone please fire me after fifteen months on the job so I can get $58 million?

Confirming all rumors, De Castro left the company with a $57.96 million severance, according to the filing, which was made public on Wednesday. The filing breaks down the million-dollar figure into cash, restricted stock units that grow over time, stock options, and "make-whole" compensation payments.
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Poor guy! How will he live on that pittance of a severance....... :p
 
Count me in to be happily fired too for $58million in severance.
 
I wonder if he is the one that created their new POS front page.
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Good god, I just looked at the yahoo page first time in a very long time, man that front page is horrible would moron designed that and thought it actually looks good?
 
Hey Yahoo... I would be happy to let you fire me over and over again for 10% of what you paid that tool.
 
Damn, why be a doctor and risk being sued for malpractice when you could do what people like this do?
 
yeah but didn't we just have a story of how bad it feels to not get hired by Google when they acquire your company? This guy must be feeling horrible inside, might not ever want to get into the industry again!
 
This type of stuff is what make me laugh when people want to spout on and on about government waste, inefficiencies blah blah blah.

I have worked both private and public sectors both are just as messed up as the other.
 
dandirk said:
This type of stuff is what make me laugh when people want to spout on and on about government waste, inefficiencies blah blah blah.

I have worked both private and public sectors both are just as messed up as the other.
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No it makes me laugh when the rich assholes call the lower classes takers, and how they should work harder. When this dick face, who already has a shit ton of money, gets paid more then 1000 of them will make in their entire lives working multiple jobs... I'm sure he'll find a way to shelter most of it from taxes as well... Yup definitely the low/middle class are the problem in this country....
 
For 58 million, you could not only fire me, but you could also blackball me on future employment opportunities! :D
 
Try taking a look at it from this postion:

Company to potential new board member: "Im going to offer you a very high stress high profile job with big hurdles and goals. I know you are in a cushy position right now at another company but we desperately need you. If you fail, there's a good chance your reputation and ability to get another good position could be damaged. Therefore we will give you an insurance policy of a golden parachute that protects against your failure to protect you."

That's why golden parachutes exists...to attract potential talent as well and retain talent. I'm not saying they are effective, or wise. But there is a reason they exists.
 
DigitalGriffin said:
Try taking a look at it from this postion:

Company to potential new board member: "Im going to offer you a very high stress high profile job with big hurdles and goals. I know you are in a cushy position right now at another company but we desperately need you. If you fail, there's a good chance your reputation and ability to get another good position could be damaged. Therefore we will give you an insurance policy of a golden parachute that protects against your failure to protect you."

That's why golden parachutes exists...to attract potential talent as well and retain talent. I'm not saying they are effective, or wise. But there is a reason they exists.
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Every employee is at will. There's no good reason for this to exist. Executives are already extremely well compensated. Why should they have a built in clause that pays them for their failure? How does that motivate them to do a good job?
 
Rahh said:
What exactly wrong with their homepage again? :confused:
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Well, I just visited it for the first time in... ever maybe? Just trying to scroll down I get all sorts of strange jarr-ing behaviours... menus on the left and side-bar on the right overflow issues, jumping auto-loading content... very strange layout spacing and in-yo-face add placement abound... it just look and acts like a jumbled mess.
 
maverikv said:
Every employee is at will. There's no good reason for this to exist. Executives are already extremely well compensated. Why should they have a built in clause that pays them for their failure? How does that motivate them to do a good job?
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You know why good doctors are "really good doctors"...It's a bit of an oxymoron, because they don't take the tough cases. It's easy to look good when you don't take hard cases. Especially with heart surgeons, or neuro surgeons, or organ surgeons. They don't take cases where there's a high possibility the patient will croak because it damages their reputation. This is why you may need to shop a couple surgeons before one will agree to take your surgery.

In this case, when companies are already in trouble, ie: Yahoo, Blackberry, Apple, Ford potential executives are offered big parachutes to take the hard cases. There's no incentive for them to take the hard work when they are already in a secure position.

An executive can make or break a company. ie: Alan Mulally to Ford, Steve Jobs to Lee Iacooa to Chrysler.
 
Tough break for the guy...Wish I got handed a truckload of cash and stocks from jobs I was no longer needed for.
 
DigitalGriffin said:
You know why good doctors are "really good doctors"...It's a bit of an oxymoron, because they don't take the tough cases. It's easy to look good when you don't take hard cases. Especially with heart surgeons, or neuro surgeons, or organ surgeons. They don't take cases where there's a high possibility the patient will croak because it damages their reputation. This is why you may need to shop a couple surgeons before one will agree to take your surgery.

In this case, when companies are already in trouble, ie: Yahoo, Blackberry, Apple, Ford potential executives are offered big parachutes to take the hard cases. There's no incentive for them to take the hard work when they are already in a secure position.

An executive can make or break a company. ie: Alan Mulally to Ford, Steve Jobs to Lee Iacooa to Chrysler.
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Give me a break. The guy was making millions to work there. That's not enough of an incentive to take a "hard case?" High exposure executive positions are extremely well paid because of the risk and exposure. Paying someone to fail creates moral hazard.
 
Ah, yet another job creator at work. Clearly, in his 15 months at Yahoo, he did such a great job (ignore him being fired!) he did the work of 910 people earning median income for the same time period. Claiming otherwise is class warfare and jealousy!

DigitalGriffin said:
That's why golden parachutes exists...to attract potential talent as well and retain talent. I'm not saying they are effective, or wise. But there is a reason they exists.
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Bull. The reason they exist is the circle-jerk world of corporate boards and executive compensation comparisons. Who sits on corporate boards? A bunch of executives of other companies, or professional board members who also have pay linked to executive pay. Executive pay and packages, such as golden parachutes, are based on comparables of other companies, which those board members work for. There is absolutely an incentive for them to inflate each other's pay and packages.
 
Looking at their proxy, it appears he received $600k in base salary in 2013, and $10.3 million in options. Those options are the main driver of his salary, as Yahoo's stock price grew by 103.2% in 2013, dramatically increasing the value of his total comp in 2013.
 
Don't worry, the Republicans will soon be along to tell us that lowering taxes for the ultra wealthy is the only way to improve the economy and the govt should cut every single program that benefits the poor and middle class, and there should be absolutely no social programs because 'if they weren't lazy, they'd be rich', so why give them any assistance/healthcare/education. And then lets ask them to bail us out and give us trillions.

This country is truly insane because >50% of the people actually believe the above.
 
DigitalGriffin said:
Try taking a look at it from this postion:

Company to potential new board member: "Im going to offer you a very high stress high profile job with big hurdles and goals. I know you are in a cushy position right now at another company but we desperately need you. If you fail, there's a good chance your reputation and ability to get another good position could be damaged. Therefore we will give you an insurance policy of a golden parachute that protects against your failure to protect you."

That's why golden parachutes exists...to attract potential talent as well and retain talent. I'm not saying they are effective, or wise. But there is a reason they exists.
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More like - 'no matter how badly you screw this up, if you perform worse than your wildest dreams, destroy the company and get fired, you'll still be set for life, then someone will offer you a board position because your resume says you led a Fortune 500 company and that's all that matters'.

These people never suffer any consequences. Its the good old rich people's club, once you gain entry it doesn't really matter what you do, they look after each other. They just like to tell you and me its a high stress job that deserves all that money.

People have been building and leading companies with their hard work forever. They didn't earn 1000x more than their workers, that's a recent trend which is increasing the income gap.
 
Then why don't you fucking join the club? All I see is you guys bitching and moaning and thinking all of these guys get to these positions by just sitting on their thumb. You don't get to a position like that without knowing your shit in some way or making smart decisions. Everyone is just pissed that they make more money in a month than you will in your entire life.
 
xIronCrossx said:
Then why don't you fucking join the club? All I see is you guys bitching and moaning and thinking all of these guys get to these positions by just sitting on their thumb. You don't get to a position like that without knowing your shit in some way or making smart decisions. Everyone is just pissed that they make more money in a month than you will in your entire life.
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Most of these people are born and groomed into it. They were the children of CEO's, and thus become the CEO's. You really think daddy isn't going to pull a few strings to get his son in the door?
 
MrCrispy said:
Don't worry, the Republicans will soon be along to tell us that lowering taxes for the ultra wealthy is the only way to improve the economy and the govt should cut every single program that benefits the poor and middle class, and there should be absolutely no social programs because 'if they weren't lazy, they'd be rich', so why give them any assistance/healthcare/education. And then lets ask them to bail us out and give us trillions.

This country is truly insane because >50% of the people actually believe the above.
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There have actually been polls amongst people who support this behavior questioning how they see themselves financially, even if they are only making 50k/year. As it turns out, a lot of people in this country think they are already rich, and that they are just currently "poor". They see themselves as millionaires on a 50k salary who are just in a temporary rut waiting to bounce out and finally make their millions. This is why they'll vote against their own best interests, because they dont want to intrude on their destiny where they will want those tax breaks once they are back to normal, whereby normal is rich.
 
Its the myth of the American dream. People here are brainwashed from birth into thinking they all deserve to own a house and 3 cars, no one wants to work hard, everyone learns from the age of high school to use credit cards and spend beyond their means. Its shocking that Americans who live in luxury compared to the rest of the world have no concept of saving.

You'll see tv shows about families on hard times and they'll show them living in a 3 bedroom house with a tv etc, but living paycheck to paycheck and on debt, as if that's some major hardship. People here have no bloody clue what real poverty is like. And the truly poor segments of society and the homeless are treated like dirt and scorned at by even the lower middle class.

Morons who vote Republican because they think 'one day I'll be rich too and then this will benefit me' deserve what they get, while the rich must be laughing at how gullible people are.
 
xIronCrossx said:
Then why don't you fucking join the club? All I see is you guys bitching and moaning and thinking all of these guys get to these positions by just sitting on their thumb. You don't get to a position like that without knowing your shit in some way or making smart decisions. Everyone is just pissed that they make more money in a month than you will in your entire life.
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McFry said:
Most of these people are born and groomed into it. They were the children of CEO's, and thus become the CEO's. You really think daddy isn't going to pull a few strings to get his son in the door?
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So get off you're "thumb" and prove to someone you're good enough and get hired?

There are as many "i came from nothing" millionaire's in this world who made them selves rich.
 
MrGuvernment said:
So get off you're "thumb" and prove to someone you're good enough and get hired?

There are as many "i came from nothing" millionaire's in this world who made them selves rich.
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Uh no, there's not as many. Sure there are some, but most rich kids grow up to be rich simply because they grew up rich. They learn the lifestyle, they learn how to act, what to say, they inherit the mild sociopathic tendencies necessary to make tough decisions with peoples lives. If their dad was a stock broker they witnessed him joke with his stock broker buddies about how stupid the public is and how "laugh out loud" hilarious it is to screw people and take their money. If their parents were involved in construction/development they probably heard them mock the neighborhoods they are trying to raze, and the families that need to be ejected to make room for progress. They heard them scold and chastise any regulation that could possibly encroach on their profits. As a child they witnesses all of this, and adopted it. It helped shaped them into the CEO's of tomorrow. Once all the pieces were in place, all it took was an open invitation to the board room to start the beginning of their career at executive level. They're just born with a silver spoon in their mouths. This represents the majority of big players in the world.
 
I'm working my born with an incurable nerve disease ass off to make a hundredth of that a year, lemme tell you 'bout wishing for that kind of gig..
 
But they need to offer these ludicrous salaries to get the right qualified people to destroy their business!

So for any Fortune 500 company interested, I promise for only a nominal fee of 10 million dollars that I will bankrupt your company. See? I'm saving you millions!
 
MrCrispy said:
Its the myth of the American dream. People here are brainwashed from birth into thinking they all deserve to own a house and 3 cars, no one wants to work hard, everyone learns from the age of high school to use credit cards and spend beyond their means. Its shocking that Americans who live in luxury compared to the rest of the world have no concept of saving.

You'll see tv shows about families on hard times and they'll show them living in a 3 bedroom house with a tv etc, but living paycheck to paycheck and on debt, as if that's some major hardship. People here have no bloody clue what real poverty is like. And the truly poor segments of society and the homeless are treated like dirt and scorned at by even the lower middle class.

Morons who vote Republican because they think 'one day I'll be rich too and then this will benefit me' deserve what they get, while the rich must be laughing at how gullible people are.
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3? I think 2 per person is just fine, not including a quad or dirt bike. :D
 
Inu said:
Food for thought from:

http://www.huffingtonpost.com/2013/04/30/ceo-to-worker-pay-ratio_n_3184623.html

Today Fortune 500 CEOs make 204 times regular workers on average, Bloomberg found. The ratio is up from 120-to-1 in 2000, 42-to-1 in 1980 and 20-to-1 in 1950.

Lame.
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Its a broken system, there is absolutely NO EXCUSE for this, as they are NOT that valuable to the company.

We are going to get to the point where we end up with class warfare as happened in France.

And its a really crappy solution to try and perform robin hood economics of just heavy taxes to distribute indescriminately, as that just encourages the most useless loafs to be rewarded for being sloth and gives the government far too much control over resources which gives them power (and votes by making portions of society dependent on them).

There has to be a better way.
 
Nytegard said:
But they need to offer these ludicrous salaries to get the right qualified people to destroy their business!

So for any Fortune 500 company interested, I promise for only a nominal fee of 10 million dollars that I will bankrupt your company. See? I'm saving you millions!
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Its all about incestuous relationships, as these are the people that went to Ivy league schools together, belong to the same circles, and ensure that they reward each other with power and wealth.

No matter how hard an average Joe works or contributes to the company, with the rare exception of those extremely few that got lucky with a startup that exploded, they will never penetrate this inner circle.

And its a joke with these publically traded companies to pretend that the stock holders really have any control over board members voting themselves millions in bonuses and lavish parties. All they care is if the stock prices are going up and they are getting returns on their investment, so if the company does salary freezes for two years and pays the 99% of the employees squat while rewarding themselves fortunes, it doesn't affect the bottom line enough to be an issue and stock holders aren't organized in any way to really complain. Pure BS.

But speaking of organization, when you have counters to this of unionized employees, then again you end up divorcing contribution to compensation, where people just get raises based on seniority no matter how hard they work and it creates this culture of, well, shit work ethic. Sad sad state of affairs.
 
TheToE! said:
Hows that democratic president working out for you?
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Pretty much the same as all the other puppets that were in the office before him.... It doesn't matter if it's D or R, they are just different heads on the same corrupt beast.
 
Biznatch said:
Pretty much the same as all the other puppets that were in the office before him.... It doesn't matter if it's D or R, they are just different heads on the same corrupt beast.
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When an administration rolls in, they put a LOT OF friends in various appointments, so it certainly matters. However, they are all looking out for #1 though, and their special interest groups, and not Joe Public and their talking points are generally just that... talk.
 
This graph says it all. Prior to "Reagonomics" and "trickle-down" economics, workers/labor used to share in productivity gains. Globalization also didn't help, and that's supported by both parties. You see productivity continue to grow at its historical rate (disproving the "laziness" myth) yet income is completely disconnected from it right around 1980.

http://fortunewallstreet.files.wordpress.com/2014/04/graph_thomas-jpeg1.jpg?w=603&h=347

Also, study after study shows that economic mobility continues to decline year over year in the United States, and we are actually one of the worst in the OECD countries when it comes to our high probability that you stay in the same economic quintile you were born in. And our GINI index is in such illustrious company as 3rd world banana republic dictatorships.
 
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