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December 2, 2008 8:58:23 PM CST

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Her Golden Parachute Fine With McCain

Posted Sep 16, 08 2:10 PM CDT in Business,  Politics 

(Newser) – John McCain and Sarah Palin made a point yesterday of blasting CEOs who left their companies with multimillion-dollar golden parachutes while workers and shareholders suffered. But McCain’s top economic adviser deployed just such a shiny parachute when Hewlett-Packard ousted her, ABC News reports. Carly Fiorina pocketed $45 million, even as the company laid off 20,000 and its shares fell 50%.

Asked if McCain meant CEOs like Fiorina, a spokesman said McCain was “talking about the issues that are before us today,” citing the CEOs of Fannie, Freddie, Bear Stearns and Countrywide. “I don’t think there’s any analogy there.” Asked how McCain would control the pay packages of private-sector executives, he said McCain would “make sure that shareholders can vote on CEO compensation.”

Source ABC News

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"I don't think there's any analogy there," a McCain spokesman said about comparisons of Carly Fiorina's $45 million HP payout with similar sums given to CEOs ousted amid the subprime collapse.   (AP Photo)
Carly Fiorina, an economic advisor to John McCain, left a tanking Hewlett-Packard with $45 million, but a campaign adviser sees no analogy with packages given to CEOs ousted over subprime woes.   (AP Photo)
Though John McCain and Sarah Palin have railed against severance payouts to CEOs who have broken the public trust, an adviser says Carly Fiorina's $45 million from HP comes under a different heading.   (AP Photo)
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John McCain • Fannie Mae • Freddie Mac • Bear Stearns • Hewlett Packard • Countrywide • CEOs • Carly Fiorina • golden parachutes


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