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November 3, 2004

All Business: Disgraced execs still get a huge severance

By RACHEL BECK
AP Business Writer

NEW YORK — PeopleSoft Inc.'s former chief executive lied to Wall Street analysts about the company's business. So what happened to him? He got to keep his job for a year, and when he was finally fired, he walked away with a huge severance package.

This isn't the first time such nonsense has gone on in corporate America, and chances are it won't be the last. It doesn't seem to matter what top executives do wrong, they keep getting paid big bucks when they are shown the door.


 
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