How the rich get richer.....screwing all of us

Meanwhile, corporate-governance groups are sharply criticizing the $450 million that Kilts and 16 other top Gillette execs stand to receive in severance, change-of-control, and other benefits. “The Gillette merger could become a poster child for this kind of dealing aimed at producing a very rich executive payday,” says James Malican, president of Proxy Governance, a proxy-advisory firm based in Vienna, Va.

While company officials publicly said the deal could generate synergies of $14 billion to $16 billion, internal discussions suggested they would be much larger, ranging from $18.82 billion to $28.55 billion, or some $19 to $29 a share. Yet Gillette shareholders are getting just $9 a share of this value, Aggarwal wrote. The implication: Gillette may have been sold short.

Galvin also complains that UBS and Goldman are hardly impartial arbiters of the deal’s fairness. “The fairness providers were very involved in the creation of the deal,” he complains, noting that Goldman’s Paulson actually played a key role in restarting negotiations with P&G in January. Beyond that, both Goldman and UBS stand to earn up to $30 million if the deal is completed.

“How fair or accurate can it be when you have people who are compromised by their involvement in the deal?” asks Galvin, who compares this situation to asking a broker representing a prospective buyer of your house to do an appraisal of the house.

Making matters worse, Kilts is also receiving both a huge severance package from Gillette, plus a “raise” that Aggarwal values at $11.3 million for working for P&G for an extra year. Experts argue it’s highly unusual for a CEO to get a severance payment when he isn’t being fired, plus a bonus for staying on the job.

Constant reminders of why I’m getting out of design.

Makes me want to do free design work!

if money is all you want, start your own company. That’s what I did. $180 million /year. Once you do (if you’re the kind of person that can) you’ll find yourself doing things just like everyone else. It’s called taking a huge risk, it’s called working your ass off, it’s called buisness.

Gillette may have been sold short> .

Depending on details, this could be more than just “buisness”, it could be illegal. It could be collusion. And fraud. You should know all about that since you’re a bigshot buisnessperson.

then they are not screwing anyone except themselves and it will all work itself out naturally. No need to bitch.

And OJ didn’t murder anyone and rich people never hire the best lawyers to get them out of trouble. I feel so much better.

check karim Rashid, he pays no money to his interns , waht an asshole!!!
Not a nice guy. Pretends to be cool but he isn’t.

that was cool; how did you link “collusion” and “fraud” to the respective words…?

You’re going to give us your land too!