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hotrodlincoln
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Joined: 08 Apr 2003
Posts: 1691
Location: Not in Austin anymore
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 Posted: Mon Jun 30, 2008 8:02 pm Post subject: Dell sends ex-CFO on his way with $300,000 |
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Dell Inc. paid Don Carty, the company's recently departed chief financial officer, $300,000 as a bonus for the almost 18 months he spent in that job.
The award was not part of any previous plan or contract, the company said, but was approved by the board's compensation committee "in recognition of his dedicated service to the company," according to a regulatory filing.
Carty took over as CFO early in 2007, when Dell's business was slipping and its accounting was under investigation by the company's board and by federal authorities. The federal probes remain open.
During his tenure, Carty shored up the internal oversight of Dell's bookkeeping, helped chief executive Michael Dell shape the company's turnaround strategy and led a push to cut costs. The latter effort includes plans to cut at least 10 percent of the company's work force, about 8,800 jobs.
Carty, who remains on Dell's board, officially resigned June 13 to open the top finance post for Brian Gladden, a former General Electric Co. executive hired in May.
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http://www.statesman.com/business/content/business/stories/other/07/01/0701cbriefs.html |
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Tat2grl
Regular Hater
Joined: 27 Nov 2007
Posts: 34
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| Posted: Tue Jul 08, 2008 10:36 pm Post subject: |
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Another take on the story
The Tennessean - July 1, 2008
Dell Inc. gave its former chief financial officer $300,000 last week for helping manage the company's responses to investigations of its accounting practices.
The company disclosed the payment to Donald J. Carty in a regulatory filing on Monday.
Carty, 61, stepped down effective June 13 after 18 months on the job. He was hired at a time when Dell's accounting was under scrutiny.
In the fiscal year ended Feb. 1, Carty was paid a salary of $766,346, nonstock incentives of $934,176 and other cocmpensation of $3,746,593, almost all of which was payment for stock options that expired during a period when Dell suspended exercise of options because of delay in issuing the company's annual report the year before.
Carty received neither a bonus nor new stock or option awards in the past year, though other high ranking executives did.
Dell has two facilities in the Nashville area.
http://www.tennessean.com/apps/pbcs.dll/article?AID=2008807010325
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Commendatore
Hates with a Vengance
Joined: 10 Jun 2008
Posts: 80
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| Posted: Wed Jul 09, 2008 2:06 am Post subject: |
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| The bastard didn't deserve it. And to add insult to injury, the average Dell employee gets let go with a pittance. |
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Bane
Regular Hater
Joined: 22 Nov 2006
Posts: 21
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| Posted: Wed Jul 09, 2008 7:43 am Post subject: |
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| Freakin' incedible ! He waltzs in and gets $5,M for 18 months work ? Is my calculaor broken or something ? |
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rustyboots
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Joined: 06 Jul 2005
Posts: 196
Location: Round Rock
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| Posted: Wed Jul 09, 2008 10:10 pm Post subject: |
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This guy must be a real moron!! Kevin still gets $1,000,000 a year for 5 years just to keep his mouth shut!! Carty gets $300,000 for 18 months? LOL Still too much for any executive at Dell to get paid. They are all oxygen thieves.
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Rocke_T_Sinetist
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Joined: 26 Aug 2005
Posts: 2608
Location: DFW airport
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| Posted: Wed Jul 09, 2008 10:15 pm Post subject: |
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Carty was a proven loser before anyone in the computer industry ever heard of him. Ask anyone who worked for American Airlines.
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Rocke T Sinetist
as in, 'it doesn't take a...' |
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