It’s now become clear why ATT is pushing so hard to charge web sites for faster download speeds—they have to pay for the ginormous retirement package of their CEO, Ed Whitacre, who announced he’s stepping down today. I’m joking, but if you think your company’s matching funds for your 401k look pretty good, check this out (from the Financial Times):
Mr. Whitacre will receive a retirement package totaling $158.5m according to the company’s proxy filing with the US Securities and Exchange Commission â€“ one of the largest pension packages ever unveiled.
In addition, he will receive $24,000 a year in benefits to cover car costs and $6,500 a year for home security, and will be entitled to use the company jet for 10 hours a month. read more