People | Corporate Greed
Near Bankrupt California Resources Adopts Generous Exit Package for CEO
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The almost bankrupt California Resources has adopted a new compensation package for its CEO. The new program calls for a payment of 2x the salary and bonus if the CEO is fired without cause.
One would think the compensation committe would be busy trying to ensure shareholders are protected but instead, seemed fixacted on protecting the ceo. The company is heading for bankruptcy for sure with its massive debt load and its ridicilious spending over the last few years.
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