How Greedy Workers’ Pensions Destroy the Economy, Or Not.

unsettling economics

Let’s begin with one of these greedy workers.  Or maybe he was one of the people who fret about the workers’ pensions?

Maremont, Mark. 2013. “For McKesson’s CEO, A Pension of $159 Million.” Wall Street Journal (25 June): p. B 1.

http://online.wsj.com/article/SB10001424127887323998604578565491579124154.html

“Executive pension plans sometimes grow to a hefty size, amounting to tens of millions of dollars, as extra retirement cushions for long-serving CEOs.”

“Then there’s the record $159 million pension benefit of John Hammergren, the current chairman and CEO of drug distributor McKesson Corp. MCK –0.93% That’s how much he would have received in a lump-sum payment had he voluntarily departed on March 31, McKesson disclosed in its annual proxy filing on Friday.”

“Compensation consultants say it’s by far the largest pension on file for a current executive of a public company, and almost certainly the largest ever in corporate America. It’s also more than double the value…

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