In the Humble Opinion of LittleBill, Socialist, Atheist, and Humanist
The Poster Boy for What's Wrong with American Health Care

I give you Bill McGuire!









On 15 October 2006, it was announced that McGuire would step down immediately as chairman and director of United Health, and step down as CEO on 1 December 2006 due to his involvement in the employee stock options scandal.

Simultaneously it was announced that he would be replaced as CEO by Stephen Hemsley, who has served as President and COO and is a member of the board of directors.

McGuire's exit compensation from UnitedHealth, expected to be around $1.1 billion, would be the largest golden parachute in the history of corporate America.

3 comments:

LittleBill said...

Look up the salary of Alan Mulally, CEO of Ford Motor Company. I tried to send it to you, without success. It complements Yellow Dog's post. I found it at Fox News.

pekka said...

Interstingly, I had to read this several times before it made any sense. My poor brain didn't accept the figure $1.1 billion and automatically switched it to be $1.1 million. Oh, this is beyond revolting!

DB Cooper said...

This is what we are overwhelmed with each day: inhuman proportions of devastation in terms of blood and money squandered. Amounts dwarf the consciousness of the individual.