Kmart CEO rapes company for $94m

From the "Bush likes the rich" file, the government are doing nothing to stop outgoing Kmart chief executive Julian Day from stepping down. Nothing wrong in that, you might think. Well think again. He's only been in the job for 9 months. For that, as he steps down, he gets:
- to stay on the board of directors
- to retain 778,882 stock options worth about $60 million
- to retain fully vested options worth about $30 million
- $2 million by signing a release agreement with Kmart
- most of his $1 million annual bonus for this year
- a bonus of $978,000 in 2007 (2 years after leaving)
- a bonus of $479,000 in 2008 (3 years after leaving)

Oh it must be a hard life, lounging around on CEO salary, doing nothing (because that's what CEO's do - nothing) for 9 months, and then stepping down to a tidy little $94 million over the next 4 years. Yes, it must be hard.

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