McCain Defends Fiorina's Golden Parachute

This weekend, John McCain defended unhelpful surrogate Carly Fiorina's generous severance package from Hewlett Packard:

"I think she did a good job as CEO in many respects," McCain told "The Today Show's" Meredith Vieira when she pressed him on the matter in light of McCain's recent accusations of greed on Wall Street.

"I know that she was a very successful businesswoman. Started out as a part-time secretary and made her way to the top of the corporate ladder as one of the biggest CEOs in the United States of America," McCain said after noting that he was unaware of the specifics of her compensation package.

Fiorina received $21 million in severance pay when she was fired as CEO of Hewlett Packard in 2005. She received an additional $21 million when Hewlett Packard's board bought out her company stock options and pension benefits. Her compensation package sparked a lawsuit from shareholders.

McCain admitted, however, that he was not familiar with the details of Fiorina's payout:

McCAIN: I don't think so. ... Because I think she did a good job as CEO in many respects. I don't know the details of her compensation package. But she's one of many advisers that I have.

Q: But she did get a $45 million dollar golden parachute after being fired while 20,000 of her employees were laid off.

McCAIN: I have many of the people, but I do not know the details of what happened.

McCain has vowed to end "multimillion dollar payouts to CEO's who have broken the public trust."

Watch:

Comments

[mikelartist]

She ran that company right into the toilet. Does she forget that she granted interviews after the fiasco where she said she "learned from her mistakes"? And for that she is rewarded 45 million dollars?

She has NO SHAME. Paid to fail. History is rife with stories of this type of human filth.

[jamarib2mom]

I wonder how those CEO's Sleep at night! I mean there workers are out of work and jobs are scarce! But some dumb ass is going to vote for him.

Obama 08

[Richard22]

McCain "doesn't know the details" about his top economic advisor's job performance as a prominent (and fired) CEO? Does he VET anyone???

[Grunty1]

Every indication we've seen throughout the campaign is that McCain is too lazy (at best) or powerless (at worst) to run his own campaign. I would guess the latter.

[NickSoCal]

OH MY GAWD!!

You CANNOT make this stuff up!!

McCain has NO Idea about ANYTHING does he??? He heapspraise on ANYBODY then admits " I don't know any of the details"

This guy is a J-O-K-E

[cactusgal]

In regard to CEO pay, Bush said that now is not the time for "punitive measures."

Hey Mr. Presidunce, didn't Keith Olbermann recently tell you to shut the hell up?

I think he spoke for all of us.

[didleijoe]

I like how he repeats "I do not know the details," as if the reported didn't just tell him twice. he could've just as easily said. "These are not the droids your looking for," and just used a Jedi mind trick.

[Eoin45]

Executives who run companies into the ground and lay off thousands should get golden showers rather than golden parachuts.

[TeeLolly]

They should get golden vacuum cleaners to suck out all the money they took while running their companies into the ground.

[loax]

How could he not know that this woman mis-managed Hewlitt Packard, spied on employees and was thrown out with a golden parachute? She gets 42 million dollars, and over 20000 employes were laid off while she ran with the golden egg! If this is the type of person McCain has as an economic advisor, then American Taxpayer can expect that the big guns on wall street will dance away with 700 billion dollars of our money and we, the American people, get the shaft!

[omaro]

Yes, how could he not know this?! I'm an ordinary citizen, not very versed in economics, and I don't read the Wall Street Journal, just regular newspapers on-line, including the New York Times and the Washington Post Weekly. I know that during Fiorina's tenure, HP lost 50% of its market cap, 20,000 workers, and Fiorina left with, by my memory, $42 million in severance and buyouts. This guy's lack of engagement on the important topics of the day really scares me. Time to make another donation to Obama.

[debrouillard]

I wouldnt really blame McCain. judging from what i have seen and heard of him,I am smarter than him and yet,i dont understand much when ever i read financial times.

But then,I like a president who is smarter than me and can understand it all.

So,my advice to McCain,I admire yur courage and grit to want to run for president,but there are things some people just cant do. So ,Sir Quit while its still time

[Bluejay00234]

That's because your clueless as to whats going on in your own campaign.

[cabledave]

McHoover

You have lost it

She was fired

Go Away

[Lotus19]

There we have it. She was a successful businesswoman because she climbed from Secretary to CEO. Not whether she ran a company into the ground or not and collected millions of dollars while others got laid off...but still, he considers her package fair (although he doesn't know what it is).

[Samirah1368]

does he know the details on ANYTHING?????

[Rog49Thomas]

McCAIN: I have many of the people, but I do not know the details of what happened.

If we needed proof here it is, ready to command from Day #1.
No need for facts. No need for logic. President Pan's worthy successor.

And did I mention he's a lovable irascible maverick. And a POW to boot!

("Maverick" is a registered trademark of JSMcC III. All rights reserved)

[Eoin45]

LOL.

[SatinPanties]

So is POW.

[KNadine]

Sen. McCain isn't really a detail person is he. He just shoots from the hip and deals with the "details" later. Is American not seeing that this man is just saying what he thinks we want to hear. Psst...John McCain. We use the "Internets" and "The Google" now and can check your bull out. Ain't so easy to lie anymore.

[glesslib]

Could there ever be a quote that sums up John McCain better....Fiorina did a good job, he doesn't know the details. He doesn't know the details on the economy, or lobbyists, or the SEC or how the government really works. He doesn't know exactly what Phil Gramm had to do with the meltdown. He's forgotten more or never knew than most of us would care to imagine.

[Samirah1368]

oh you forgot he dosen't know the difference btw Latin America and Europe (Spain) either

[SFkid]

I say 20% on the taxpayers return on invesment, make these banks pay us back big time for using our money. They have no problem fining us for late fees, I say its time to pay the piper!!!!