Retired retroactively? Give me a break!

[SCRUBDASHRUB]

Don't pee on my leg and tell me it's raining.

[unblock]

1. it's not uncommon. it's complete assholery, but it's not uncommon.

essentially he likely stopped actively working (not completely, but certainly on a day-to-day basis), but given that he remained officially as ceo and sole shareholder, others needed to buy him out. he simply held out for the best deal.

when they finally did come to an agreement, they backdated the retirement date to when he basically stopped working, most likely so he could collect retirement pay and benefits for the extra two or three years, and also so he could SAY he retired in 1999.


so the best you could say is that he was a completely negligent ceo and used that negligence to hold the company hostage for a king's ransom.

[uponit7771]

4. His tax records would show if he stopped "actively"...they're the smoking gun. He takes a deduction

...from his taxes for actively acting as CEO of Bain then he's toast...the it's in writing that he led to the FEC

[unblock]

5. what tax deduction?

any business expenses would have been reimbursed directly from bain and so would not even show up on his tax return.

[HopeHoops]

2. Yeah, but if they pee on your head they just call it "trickle down".

[SCRUBDASHRUB]

3. LOL!