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REPORT COPYRIGHT VIOLATION IN REPLY
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Message Subject
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GE Exec being paid $89,000 a month until 2022 to NOT work.
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Poster Handle
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Anonymous Coward |
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Post Content
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What is it? Hypnotism? Some magic spell? Blackmail? What superpowers does a single guy hold over an entire global company to walk away with a deal like this? ___________ ...As part of a deal to keep the veteran executive from joining a competitor for an unusually long three years, the conglomerate has agreed to pay Mr. Krenicki $89,000 a month until 2022... [ link to online.wsj.com] From a business point of view, this makes perfect sense. If that guy goes to the competitors, he would make GE lose millions a month so paying him $89,000 a month is no big deal. A very wise business decision by GE.  Yes, I realize that it is a calculated business decision. It's just mind-boggling that they can't overcome the power and effect of a single man. Can he really single handedly turn GE's competitors into indomitable powerhouses of the industry? Is there NO other viable method of contractual restriction on the exportation of proprietary information? If it were allowed GE would put this in his agreement but the law doesnt allow it so they gotta bribe him not to go to the competitors. Remember this man holds the secrets of GE in whatever department he was working in. And again, the law allows him to use his past experience (meaning secrets) in his new job. So there's no way out but to do it. I've seen this happen over n over in other companies as well.
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