Saturday, October 11, 2008

It's Just Crazy

NEW YORK - SEPTEMBER 29:  People watch as the ...Image by Getty Images via DaylifeEveryday the economic crisis seems to get worse and worse. Just when you thought the stock market had dropped as far as it could, it drops another six to seven hundred. There's a lot of blame to go around in this whole mess, but I just read the article below and have to wonder at the craziness of it all. If I get terminated from my job I'm not going to walk away with any money, much less over a million dollars. These companies can say they have to do this to attract the people they want to run their company, but if none of them did it they wouldn't have to. Where else can you screw up and walk away with millions? It's beyond insane.

From the (AP)AP
CHICAGO (AP) -- Bookseller Barnes & Noble Inc. said it will record an after-tax charge in the third quarter of $1.8 million.

The charge, related to the termination of an employment agreement with Marie Toulantis, the chief executive of the company's online unit, amounts to about 3 cents per share, and was disclosed in a regulatory filing on Friday.

Toulantis resigned in August.

Analysts surveyed by Thomson Reuters expected the nation's largest bookseller to lose 13 cents per share on revenue of $1.18 billion during the quarter. Those estimates typically exclude one-time charges.

Earlier this summer, the New York-based retailer said it expected to lose between 10 and 15 cents per share in the third quarter.

Barnes & Nobel shares climbed 39 cents to $23.96 in trading Friday.



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1 comment:

Jessica said...

It's so crazy. Did you hear about the CEO of Washington Mutual who was in his position for 17 days, and walked away with 19 million dollars. OMG!

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