2007年VOA标准英语-Outgoing Corporate Executive Gets $210 Million

By Peter Fedynsky
Washington, DC
05 January 2007
 
Fedynsky report

In English, a "golden parachute" is a term that describes very generous compensation paid to a corporate¹ executive who is retiring or being removed for poor performance.  This kind of parachute was deployed² this week by the chief executive of a large American home supply store.  His $210 million severance³ package guarantees him a soft landing among the unemployed⁴.  But as VOA's Peter Fedynsky reports, it has also raised questions about fairness.

Robert Nardelli was hired in the year 2000 to run Home Depot⁵, a multi-billion dollar corporation that sells hardware, lumber⁶ and other home improvement supplies.  During his tenure⁷, Nardelli accumulated a personal fortune of $150 million.  He is getting $210 million in cash, stocks and other benefits for leaving.

 
Joe Nocera
New York Times business columnist⁸ Joe Nocera says the separation package was part of Nardelli's contract. "The company was floundering six years ago.  They needed a makeover.  They wanted a high profile, high energy superstar."

Home Depot doubled profits during Nardelli's tenure.  But the corporation's stock fell seven percent while that of a competitor rose 185 percent.  Columnist Joe Nocera says resentment⁹ erupted at the company's annual board meeting.

"I have to tell you this was one of the most dictatorial¹⁰ annual meetings I've ever seen in my life.  There were timers; no one could speak for more than a minute.  He refused to answer any questions, there were no board members there."

The exorbitant¹¹ severance packages, known as "golden parachutes," are increasingly common in the corporate world.  Last year, Hank McKinnel, left the top job at Pfizer after the pharmaceutical¹² company's stock dropped 41 percent, his compensation - $200 million.  Stephen Crawford, got $32 million after a mere¹³ 106 days as co-president of the Morgan Stanley investment bank.  And Lee Raymond, chairman of the Exxon Oil Corporation, got a retirement¹⁴ package worth nearly $400 million.

 
Lawrence Mishel
Lawrence Mishel, President of the Economic Policy Institute, a Washington, D.C. think tank, accuses America's corporate elites¹⁵ of using their privileged status to run what he calls a klepto-economy - an economy of thieves. "A head of a company now, a major company, earns over 260 times that of a regular worker.  Back around 20 years ago it was just about 35 times, back 40 years it was 25 times.  I don't think we need to pay people that much to get them out of bed in the morning to go to work."

Executive compensation is determined¹⁶ by a company's board of directors.   They often defend golden parachutes as necessary to compete with other companies for the country's most talented managers.  But Lawrence Mishel notes that executive profits ultimately come out of the pockets of shareholders¹⁷, workers, and consumers.

1 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。

2 deployed   

（尤指军事行动）使展开( deploy的过去式和过去分词 )； 施展； 部署； 有效地利用

参考例句：

• Tanks have been deployed all along the front line. 沿整个前线已部署了坦克。
• The artillery was deployed to bear on the fort. 火炮是对着那个碉堡部署的。

3 severance   

n.离职金；切断

参考例句：

• Those laid off received their regular checks,plus vacation and severance pay.那些被裁的人都收到他们应得的薪金，再加上假期和解职的酬金。Kirchofer was terminated,effective immediately--without severance or warning.科奇弗被解雇了，立刻生效--而且没有辞退费或者警告。

4 unemployed   

adj.失业的，没有工作的；未动用的，闲置的

参考例句：

• There are now over four million unemployed workers in this country.这个国家现有四百万失业人员。
• The unemployed hunger for jobs.失业者渴望得到工作。

5 depot   

n.仓库，储藏处；公共汽车站；火车站

参考例句：

• The depot is only a few blocks from here.公共汽车站离这儿只有几个街区。
• They leased the building as a depot.他们租用这栋大楼作仓库。

6 lumber   

n.木材，木料；v.以破旧东西堆满；伐木；笨重移动

参考例句：

• The truck was sent to carry lumber.卡车被派出去运木材。
• They slapped together a cabin out of old lumber.他们利用旧木料草草地盖起了一间小屋。

7 tenure   

n.终身职位；任期；(土地)保有权，保有期

参考例句：

• He remained popular throughout his tenure of the office of mayor.他在担任市长的整个任期内都深得民心。
• Land tenure is a leading political issue in many parts of the world.土地的保有权在世界很多地区是主要的政治问题。

8 columnist   

n.专栏作家

参考例句：

• The host was interviewing a local columnist.节目主持人正在同一位当地的专栏作家交谈。
• She's a columnist for USA Today.她是《今日美国报》的专栏作家。

9 resentment   

n.怨愤，忿恨

参考例句：

• All her feelings of resentment just came pouring out.她一股脑儿倾吐出所有的怨恨。
• She cherished a deep resentment under the rose towards her employer.她暗中对她的雇主怀恨在心。

10 dictatorial   

adj. 独裁的，专断的

参考例句：

• Her father is very dictatorial.她父亲很专横。
• For years the nation had been under the heel of a dictatorial regime.多年来这个国家一直在独裁政权的铁蹄下。

11 exorbitant   

adj.过分的；过度的

参考例句：

• More competition should help to drive down exorbitant phone charges.更多的竞争有助于降低目前畸高的电话收费。
• The price of food here is exorbitant. 这儿的食物价格太高。

12 pharmaceutical   

adj.药学的，药物的；药用的，药剂师的

参考例句：

• She has donated money to establish a pharmaceutical laboratory.她捐款成立了一个药剂实验室。
• We are engaged in a legal tussle with a large pharmaceutical company.我们正同一家大制药公司闹法律纠纷。

13 mere   

adj.纯粹的；仅仅，只不过

参考例句：

• That is a mere repetition of what you said before.那不过是重复了你以前讲的话。
• It's a mere waste of time waiting any longer.再等下去纯粹是浪费时间。

14 retirement   

n.退休，退职

参考例句：

• She wanted to enjoy her retirement without being beset by financial worries.她想享受退休生活而不必为金钱担忧。
• I have to put everything away for my retirement.我必须把一切都积蓄起来以便退休后用。

15 elites   

精华( elite的名词复数 )； 精锐； 上层集团； （统称）掌权人物

参考例句：

• The elites are by their nature a factor contributing to underdevelopment. 这些上层人物天生是助长欠发达的因素。
• Elites always detest gifted and nimble outsiders. 社会名流对天赋聪明、多才多艺的局外人一向嫌恶。

16 determined   

adj.坚定的；有决心的

参考例句：

• I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
• He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。

17 shareholders   

n.股东( shareholder的名词复数 )

参考例句：

• The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
• the company's fiduciary duty to its shareholders 公司对股东负有的受托责任