{"id":26682,"date":"2012-01-03T01:49:04","date_gmt":"2012-01-03T06:49:04","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=26682"},"modified":"2012-01-03T02:01:37","modified_gmt":"2012-01-03T07:01:37","slug":"the-worst-footnote-2011-leo-apothekers-golden-parachute","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2012\/the-worst-footnote-2011-leo-apothekers-golden-parachute.html","title":{"rendered":"The Worst Footnote of 2011: Leo Apotheker&#8217;s Golden Parachute"},"content":{"rendered":"<p id=\"yui_3_2_0_1_1325567304527601\"><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/01\/gldnprchtmain.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-26683 alignleft\" title=\"gldnprchtmain\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/01\/gldnprchtmain-300x144.jpg\" alt=\"\" width=\"270\" height=\"130\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2012\/01\/gldnprchtmain-300x144.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2012\/01\/gldnprchtmain.jpg 683w\" sizes=\"auto, (max-width: 270px) 100vw, 270px\" \/><\/a>New York (HedgeCo.net) &#8211; \u00a0Footnoted, the business blog that unearths information buried deep in companies\u2019 public filings, named the nominees for its annual \u201cWorst Footnote of the Year\u201d contest.<\/p>\n<p>The votes are in, and Footnoted\u2019s readers selected former Hewlett-Packard CEO Leo Apotheker collecting around\u00a0<a href=\"http:\/\/www.footnoted.com\/my-big-fat-deal\/and-the-winner-of-the-worst-footnote-of-2011-is\/\" rel=\"nofollow\" target=\"_blank\">$25 million in severance<\/a>\u00a0and other benefits, including relocation back to France or Belgium after less than a year on the job, as the winner (or, depending on your viewpoint, loser).<\/p>\n<p><strong>The other nominees include:<\/strong><\/p>\n<p>\u00b7 \u00a0 \u00a0 \u00a0 \u00a0 Hedge fund MF Global agreeing to pay then-CEO Jon Corzine a\u00a0$1.5 million retention\u00a0bonus months before the company imploded.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Clear Channel Media Holdings \u00a0paying\u00a0$3 million a year\u00a0to a company controlled by Bob Pittman so that Pittman can fly in a Mystere Falcon 900 that Pittman owns for both business and personal use.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0IBM\u2019s outgoing CEO Samuel Palmisano becoming eligible for\u00a0as much as $170 million\u00a0in retirement benefits, just by waiting until he was past 60 to announce his retirement.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Nabors Industries agreeing to pay outgoing CEO Eugene Isenberg\u00a0$100 million in severance\u00a0on his way out the door.<\/p>\n<p>\u201cThere were some really crazy disclosures in 2011, but Footnoted readers decided that the more than $25 million that former Hewlett-Packard CEO Leo Apotheker received for 11 months of work, during which HP stock declined by over 40 percent, was worthy of the top prize,\u201d said Michelle Leder, Footnoted founder and editor. \u201cMost of us\u2014not even in our dreams\u2014could never imagine failing in such a big way and still being rewarded so richly.\u201d<\/p>\n<p>Editing by Alex Akesson<br \/>\nFor <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) &#8211; \u00a0Footnoted, the business blog that unearths information buried deep in companies\u2019 public filings, named the nominees for its annual \u201cWorst Footnote of the Year\u201d contest. The votes are in, and Footnoted\u2019s readers selected former Hewlett-Packard CEO [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-26682","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/26682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=26682"}],"version-history":[{"count":6,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/26682\/revisions"}],"predecessor-version":[{"id":26687,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/26682\/revisions\/26687"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=26682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=26682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=26682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}