Today's Total Screw Up CEO-Getting 2.5 MILLION bucks and Options Somervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


 

Today's Total Screw Up CEO-Getting 2.5 MILLION bucks and Options
 


2 January 2008 at 6:49:40 PM
salon

Just imagine if you and I were a total screwup and drove our company into the dirt... but could make out like a bandit with severance pay of $2.5 million smacks. Nice, eh? Makes you want to be a failure!

Former H&R Block Inc (HRB.N: Quote, Profile, Research) Chief Executive Mark Ernst, who oversaw the tax preparer's failed subprime lending strategy, will receive a cash severance of $2.55 million and full vesting on 762,925 stock options, the company disclosed on Monday.

H&R Block ousted Ernst last month as the No. 1 U.S. tax preparer suffered huge losses on subprime lending at its Option One Mortgage Corp unit. New management then shut down Option One when its sale to Cerberus Capital Management LP collapsed.

The move, along with cutting 620 jobs, will trigger about $200 million in charges and write-downs, the company said earlier this month.

Those charges no doubt include the 2.5 MILLION bucks for Ernst.


Permalink
     Views: 759 
Latest Blog Post by salon -Should Govt Be able to exercise pardons for horrible people (Matt Bevins-KY)

 You! Leave a Comment! You Know you Want To!
You must be a registered member to comment on the blog.
Your first post is held pending approval to make sure you're not a spammer bot

 Not registered? Or you can login!

LOGON - Name:Password:

New poster comments are moderated, meaning they won't show up until approved... or not.  Be patient-we have lives outside this blog, so it might take awhile You want to be rude? totally stupid? inappropriate? Racist? Bigoted? Flame war baiter? Your post may be deleted. Spammers or people posting pretend interest comments but really wanting to hawk their latest book or sell stuff or govt propaganda flacks won't see their posts published. Comments do not necessarily reflect the viewpoint of the site owner(salon).
If you have a problem with logging in or registering, please speak up right away. Love your comments. Oh, except spammers
More on commenting



     

Click Here for Main Page



Guest
Today Is  
Saturday, December 14, 2019






Latest Posts

Should Govt Be able to exercise pardons for horrible people (Matt Bevins-KY)
salon 12/13/2019 Views 24

How Specific Does TOMA Notice Need to be (City of Austin v Lake Austin Collective, Inc)
salon 12/13/2019 Views 28

House Judiciary Committee Votes to Send Articles of Impeachment to the Full House for a Vote
salon 12/13/2019 Views 82

Video re: Danny Chambers Drag Racing Around the Square In Youth (Glen Rose)
salon 12/11/2019 Views 77

Video-Somervell County Commissioners Court Dec 9 2019 Regular Meeting- FULL
salon 12/10/2019 Views 73

Video-Somervell County Commissioners Court Dec 9 2019 Special Session
salon 12/10/2019 Views 64


More Blog Headlines
 



Comments

salon > Quick update on this, via Pacer-Click on pic to see larger (Turk Case Update- Telephone Conference Hearing Set for March 8 2019 )

salon > Lance Been awhile. Send me an email at salon@glenrose.net with the names of who you're talking about, above. Also, the newspaper editor is no longer local, ie officed here, but the paper is run.... (What Happened to Jerry Jacene? )

LanceHall > I'd love to see the Hotel Guest books and see if Jacene's name shows up long before he officially *found* the tracks.  I'd like to know if the Visitor's Bureau has emails wit.... (What Happened to Jerry Jacene? )

LanceHall > I see the land or that part of it is now in the hands of Glen Rose's own Corky Underwood. Is Jacene still involved?   I had already informed the Visitor Bureau manager (who's.... (What Happened to Jerry Jacene? )








Home | Blog Home | About | News | Piazza | Calendar | Audio/Video/Open Rec | Search
Write!  |profile | quotes |
top Daily | top Weekly |top Month | top Year | Top All! | archives | subscribe RSS