BP’s Hayward Follows Wall Street’s ‘Fail Big, Win Big’ Pattern
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| BP CEO got a golden parachute. These Gulf pelicans weren’t so lucky. | |
When most of us screw up big time, we pay for it, instead of getting paid for it. If it was the other way around, I’d be a rich man, sort of like ousted BP CEO Tony Hayward who is finally getting his life back. He is also the latest example of what seems to be the new corporate game of “fail big, win big.”
Hayward, who whined about the time and toll the BP/Deepwater Horizon oil rig disaster was taking on his life, is walking away with a tidy severance check of $1.6 million, a pension of more than $16 million and a chance to cash in on BP stocks that, if the company’s share price recovers from its recent battering, could mean millions more, according to news reports.
