The former CEO of Webvan

The former CEO of Webvan has a hell of a golden parachute. As part of his severance, he’ll collect $375,000 every year for the rest of his life (and if he dies before his wife, she gets it until she goes). The company also forgave him a $6.7 million loan (let him pay it back with toilet-paper stock). The guy’s last job? Running Andersen Consulting. Hrm. I’d always suspected that the first duty of management consultants was to see to it that they got paid, no matter what. I am filled with rage. Link