What a guy. As the ex-chief of Cendant, his compensation last year totaled $140,000,000. Last month, when he completed the spin-off of two operating units he received termination benefits of $62,700,000. When he retires in another 18 months he will get another huge payout. Cendant came public in 1997 and the stock reached a high of $4.36 on its first day of trading. Since that time, Mr. Silverman took in more than $500,000,000 from salary, bonuses, perks and stock options.
The stock closed yesterday at $2. Shareholders took it big time. Right in the you-know-where. Truly a pathetic example of greed gone wild.
I guess it's true. Money may not buy you happiness but it sure does allow a person to suffer in comfort.
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