IP: Bonus for MCI exec

[Dave Farber <farber () cis upenn edu>]

From: Kris Raab <kraab () capcon net>


Brief mention of MCI Chairman Bert Robert's enormous retention bonus in
Friday's Business Week.  Relevant paragraph excerpted below; full
article at http://www.businessweek.com/premium/13/b3571062.htm.  Full
report on the bonus and other payoffs for MCI execs at


http://www.stw.org.  


-----------------------------
March 20, 1998
WHEN BOSSES GET RICH FROM SELLING THE COMPANY
Golden parachutes are rewarding dealmaking CEOs 


       RETAINER FEES. Then there's Bert C. Roberts Jr., chairman of MCI
Communications Corp., which is being acquired by WorldCom Inc. If the
deal goes through, Roberts will become chairman, and he and other senior
execs will split a ''retention-bonus pool'' of $170 million. Roberts'
share: $10.5 million. The move wasn't WorldCom CEO Bernard J. Ebbers'
idea. MCI had negotiated similar terms in its failed merger with
British  Telecommunications PLC and extended the terms with WorldCom.
''Basically, we walked into the BT-MCI agreement,'' says a WorldCom
spokeswoman.