Saturday, February 12, 2005

Ah, the private sector....

Having worked on the public sector/non-profit side of the world for so long, I've gotten used to folks pontificating about the power, glory, logic, efficency, and overall superiority of the private side of things. Here's a prime example, one Carly Fiorina.

Ms. F, for those living in caves, managed to get fired from HP this past week ostensibly because the Board of Directors disagreed with the way she was managing the company. They sent her packing, alright:
-- $14 million in severance pay
-- $7.38 million performance bonus (even tho' they canned her for non-performance)
-- $21.1 million in other compensation (stock options and the like)
-- $200,000 year pension (the cads) and
-- $50,000 for legal, financial and career counseling (really) so she can figure out what to do with the $42 million that's about to fall into her lap for getting fired.

They let her keep her computer, health insurance, "personal security," a secretary and technical assistance, at least for a time. The board did take back her parking space and pulled her profile from the company website. Them private sector types play rough.

What's next? Maybe the "The Apprentice" will inject a little reality into the show by adopting the harsh methods of the HP board: "you're fired, so take your $42 mill and get your sorry ass out of here."