Follow ZeroHedge in Real-Time on FinancialJuice They can be handcuffed, they can be given coffins, they can be parachuted, they can be bungee’d, they can be life-jackets, they can be a hello and they can have their hands shaken. What are we talking about? Well, all of these things seem to have one thing in common, they are golden!
Golden parachutes granted to the chief executives of BlackBerry Ltd. and Nokia Corp. thrust the controversial change-of-control incentives back into the headlines and consciousness of everyday investors, but they have already been high on the agenda of compensation and governance experts since the financial crisis.
Tony Hayward is out as CEO of BP after the company's disastrous oil spill. He stands to walk away with a compensation package that includes about $1.5 million in salary, and a pension worth $17 million. That will seem like an unforgivable sum to many people. But as "golden parachutes" go, his deal is actually quite modest.
While it is not entirely accurate to blame the ignominious downfall of RIMM BlackBerry on current CEO Thorsten Heins, who only took over from Co-CEOs Mike Lazaridis and Jim Balsille in early 2012 at a time when the company's decline into irrelevance was already in progress, it is safe to say that the amount of stockholder value destruction under Heins' watch has been unprecedented. As such, one would imagine that the compensation for Heins is "equitable" to his value created for the company and its shareholders, i.e.
TOKYO (AP) — Japan's nuclear regulator on Wednesday upgraded the rating of a leak of radiation-contaminated water from a tank at its tsunami-wrecked nuclear plant to a "serious incident" on an international scale, and it castigated the plant operator for failing to catch the problem earlier.
Officials in Japan hid the fact that the Fukushima nuclear plant has been pouring hundreds of tons of nuclear waste water into the ocean every day and that a containment barrier has been breached. Here are a few links.
On Tuesday the BBC reported Fukushima Radioactive Leak a New Emergency
Japan's nuclear watchdog has said the crippled Fukushima nuclear plant is facing a new "emergency" caused by a build-up of radioactive groundwater.
Tepco is struggling to contain the highly radioactive water that is seeping into the ocean near Fukushima. The head of Japan's NRA, Shinji Kinjo exclaimed, "right now, we have an emergency," as he noted the contaminated groundwater has breached an underground barrier and is rising toward the surface - exceeding the limits of radioactive discharge.