Impossible-to-believe severance payment
Title: Putnam's Lasser Gets $78 Million Goodbye Kiss
Date: June 10, 2004
From the article:
- The mutual fund trading scandal may have cost Lawrence Lasser his job at Putnam Investments, but he's walking away $78 million richer.
Putnam's parent company, Marsh & McLennan, announced late Thursday it was paying Lasser $78 million in cash to settle an arbitration dispute, stemming from his ouster from the mutual fund company.
It is impossible to believe that a person fired for this reason gets any severance payment at all. $78 million is an astounding amount of money -- enough to hire nearly 2,000 people and pay them $40,000 for a year.
See also this post.