The outgoing president of the Washington area metro is getting a severance package of 116,000 a year, for the rest of his life! When he dies, his wife will get something like 60 grand a year. A metro spokesman said that they can’t get out of the contract, what I want to know is what idiot, or group of idiots thought that was OK? Seeing how a large part of metro is subsidized, I hope that there is some sort of lawsuit is brought against them for negligence, incompetence, or something…sheesh!
Isaac
3 replies on “How do I get a contract like that?”
I thought that was called a retirement plan. Are they that unusual now?
Hmm, I thought a severance package was what was given when you were fired. In any case, he worked there for 10 years, that’s a pretty frickin sweet deal. I wonder what he had been getting paid during that 10 years… I have heard of large, sometimes very large, lump sums being given, but an annuity that size from an organization that is unable to keep their escalators running and needs to be subsidized to run boggles the mind.
Isaac
Ah, I didn’t know he was fired. That would be a severance package then, you’re right.
But, I’m still unsurprised. It seems like that’s what big companies do. The little people get nothing, and the execs get a sweet deal, even when they’re fired.