Beaucaire
Topic Author
Posts: 3888
Joined: Sun Sep 14, 2003 4:48 am

Forgeard Gets Three Years Salary Handshake...

Sat Jul 08, 2006 2:47 am

The french financial web-site "Boursorama" indicates that Noël Forgeard seemingly got three years salary as departing -handshake....

http://www.boursorama.com/infos/actu...phtml?&symbole=1rPEAD&news=3543352

[Edited 2006-07-07 19:53:01]
Please respect animals - don't eat them...
 
KLMA330
Posts: 703
Joined: Fri Feb 11, 2005 1:37 pm

RE: Forgeard Gets Three Years Salary Handshake...

Sat Jul 08, 2006 3:02 am

Must be nice... Corporate b@tards  Wink
 
MaverickM11
Posts: 15215
Joined: Thu Apr 06, 2000 1:59 pm

RE: Forgeard Gets Three Years Salary Handshake...

Sat Jul 08, 2006 3:10 am

Quoting Beaucaire (Thread starter):
The french financial web-site "Boursorama" indicates that Noël Forgeard seemingly got three years salary as departing -handshake....

That's probably a steal under French employment laws.  Silly
E pur si muove -Galileo
 
gigneil
Posts: 14133
Joined: Fri Nov 08, 2002 10:25 am

RE: Forgeard Gets Three Years Salary Handshake...

Sat Jul 08, 2006 3:11 am

I'm utterly shocked that's all he got.

N
 
User avatar
Stitch
Posts: 22947
Joined: Wed Jul 06, 2005 4:26 am

RE: Forgeard Gets Three Years Salary Handshake...

Sat Jul 08, 2006 3:13 am

Golden parachutes are wonderdful things.  

Anyone remember how much Condit and Stonecipher received in compensation when they were tossed?

[Edited 2006-07-07 20:23:08]
 
Halibut
Posts: 943
Joined: Fri Jul 29, 2005 8:43 am

RE: Forgeard Gets Three Years Salary Handshake...

Sat Jul 08, 2006 3:20 am

Quoting Beaucaire (Thread starter):
Forgeard Gets Three Years Salary Handshake...

Handshake ?

Bribe !  eyebrow 

Halibut
6 million Jews were slaughtered-Do you see Jews flying planes into buildings in Germany to kill 1000s of innocent, NO !
 
User avatar
EA CO AS
Posts: 13399
Joined: Wed Nov 14, 2001 8:54 am

RE: Forgeard Gets Three Years Salary Handshake...

Sat Jul 08, 2006 3:41 am

So he's been sacked? Did I miss something over the past few days?
"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan

Comments made here are my own and are not intended to represent the official position of Alaska Air Group
 
User avatar
Stitch
Posts: 22947
Joined: Wed Jul 06, 2005 4:26 am

RE: Forgeard Gets Three Years Salary Handshake...

Sat Jul 08, 2006 7:17 am

Quoting EA CO AS (Reply 6):
So he's been sacked? Did I miss something over the past few days?

Yup. Both he and Airbus CEO Humbert (sic) were shown the door. Numerous threads about it.  Smile
 
Magyarorszag
Posts: 1072
Joined: Sun Sep 04, 2005 5:53 am

RE: Forgeard Gets Three Years Salary Handshake...

Sat Jul 08, 2006 7:39 am

Quoting Gigneil (Reply 3):
I'm utterly shocked that's all he got.

I'm disgusted as well, but is it really a surprise ? A basic employee would be simply fired by the company he or she works for without any f.....g golden parachute. And if it is so because he or she did something bad, the ex-employee would got another penalty from any unemployement agency. Is that fair ?
 
dutchjet
Posts: 7714
Joined: Sat Oct 14, 2000 6:13 am

RE: Forgeard Gets Three Years Salary Handshake...

Sat Jul 08, 2006 8:35 am

Quoting MaverickM11 (Reply 2):

That's probably a steal under French employment laws.

I was thinking the same thing - Europe and the US are very different when it comes to terminating employees and whether the employee did a good job is a non-issue. Many in Europe say that divorcing your spouse iss cheaper and easier than terminating an employee. Remember the riots in France just months ago over proposed changes in the employment laws....there was a reason for that.

And now their is the stock option/insider trading thing to deal with, any news on that?
 
BoomBoom
Posts: 2459
Joined: Fri Nov 04, 2005 2:26 am

RE: Forgeard Gets Three Years Salary Handshake...

Sat Jul 08, 2006 8:38 am

Quoting Dutchjet (Reply 9):
I was thinking the same thing - Europe and the US are very different when it comes to terminating employees and whether the employee did a good job is a non-issue.

In America CEO's get treated far differently than wage slaves.
Our eyes are open, our eyes are open--wide, wide, wide...
 
eE-Kay
Posts: 136
Joined: Thu Nov 15, 2001 9:47 pm

RE: Forgeard Gets Three Years Salary Handshake...

Sun Jul 09, 2006 4:06 am

How disgusting! He should be grilled like they're doing in the States to the ex-Enron executives, and other high-profile cases involving insider trading. People, this is Europe... how disgusting. (Not amused)... and yes, I'm no longer an airbus fan, but a Boeing one.
 
elvis777
Posts: 346
Joined: Sat Aug 20, 2005 9:23 am

RE: Forgeard Gets Three Years Salary Handshake...

Sun Jul 09, 2006 4:40 am

Another thread of Foregeard bashing!!

The humanity of it all! Why do you guys insist on beating him up!

Is that about right Mariner?


Peace

Elvis777

PS. I think he messed up big time and should have resigned earlier-did a poor job of running airbus. There was probably a clause on his contract that specified a certain severance package in the event of his termination/resignation.
Leper,Unevolved, Misplaced and Unrepentant SportsFanatic and a ZOMBIE as well
 
User avatar
mariner
Posts: 18110
Joined: Fri Nov 23, 2001 7:29 am

RE: Forgeard Gets Three Years Salary Handshake...

Sun Jul 09, 2006 4:46 am

Quoting Elvis777 (Reply 12):
Is that about right Mariner?

I haven't posted in this thread, why direct that at me?

I just started to read the thread for the laughs.

But it does seem hypocritcal to put "peace" at the end, because obviously you don't mean it. At least towards me.

 confused 

mariner
aeternum nauta
 
elvis777
Posts: 346
Joined: Sat Aug 20, 2005 9:23 am

RE: Forgeard Gets Three Years Salary Handshake...

Sun Jul 09, 2006 4:51 am

Hi Mariner,
No offense meant man. Just pocking fun at BOTH of US -fromt the last thread.

The Peace was serious


 Smile

Elvis777
Leper,Unevolved, Misplaced and Unrepentant SportsFanatic and a ZOMBIE as well
 
OHLHD
Posts: 2903
Joined: Fri Dec 03, 2004 6:02 am

RE: Forgeard Gets Three Years Salary Handshake...

Sun Jul 09, 2006 10:52 pm

Quoting Magyarorszag (Reply 8):
Quoting Gigneil (Reply 3):
I'm utterly shocked that's all he got.

I'm disgusted as well

You guys would rather decline it, isn´t it Big grin  Big grin

Just a common thing in the upper managment unfortunatly.
 
User avatar
par13del
Posts: 6664
Joined: Sun Dec 18, 2005 9:14 pm

RE: Forgeard Gets Three Years Salary Handshake...

Sun Jul 09, 2006 11:45 pm

Here's my shock, until he was "fired" all the Boeing supporters said he was a problem, and all the Airbus fans said he was a professional, that he knew his job, that Eads did not put unqualified people in positions, etc etc etc.

I admit that their are not much Europeans posters on this thread but it looks just like Enron to me. Until they folded, all management was good and knew what they were doing, and employees had nothing but good to say, the whistle blowers were just that, blowers.

Disclaimer here, I'm not saying Airbus is folding, I am talking about the no admit bad manager principle here. Ever hear a fisherman say his fish smells funny?
 
Leskova
Posts: 5547
Joined: Wed Oct 08, 2003 3:39 pm

RE: Forgeard Gets Three Years Salary Handshake...

Mon Jul 10, 2006 12:02 am

Quoting Elvis777 (Reply 12):
did a poor job of running airbus

Yes... indeed... a very poor job: while he was running Airbus, Airbus replaced Boeing at the number 1 spot in sales and deliveries... true... a very poor job...  Yeah sure

As things are today, and I'm considering actual proof here (yes, I know that's a rather seldomly used concept, but I like it nonetheless), Forgeard was relieved of his post.

That's it.

Whether or not his share sales were based on insider knowledge is something that will have to be proven. If it is, then I'm all for him being sent to jail and EADS and Airbus getting their money back.

But, as it seems, some seem to have forgotten that you're not considered guilty until proven innocent, but the other way around...

There seems to be evidence against him, no doubt about that. But until that, besides all the rampant speculation that's running wild on these forae, turns into conclusive evidence, I'll agree with the minority here saying that, for what he's achieved for Airbus, it's the absolute minimum that he got three year's worth of pay.
Smile - it confuses people!
 
elvis777
Posts: 346
Joined: Sat Aug 20, 2005 9:23 am

RE: Forgeard Gets Three Years Salary Handshake...

Mon Jul 10, 2006 3:03 am

Hi Leskove,
You make an interesting point-but I dont agree. Perhaps you are right and he did a great job. Then if that is the case he was railroaded and shoved out. In which case his "not my fault' is also true and the germans are really to blame (hamburg) for the whalejets delays.

If you are quite happy with him getting 3 years of severance pay that is cool as well. I really dont care on this point as it is EADS (european taxpayers) money.

I think he did a poor job of running airbus. an dthat makes me happy. I was quite content to keep it quiet while he was in charge. Now that he is gone let me explain why I came out on the side of him being a lousy leader (even though I as glad he was doing a poor job..)..

So if truth be told I was quite happy with him being the man. I liked the fact that he kept pushing for the 380. This is good because in MY opinion this is bad for EADS and hence good for boeing. So I wish they had not removed him. This however was an internal EADS decision out of our control. We all made our bed and now must lie on it. EADS , under his leadership, believed that there was a pressing bussiness case for the 380. That is fine. We do not. So I wish he would have stayed longer b/c if we are right it would have helped us gain more market share- while eads flundered with the 380. Same thing goes for the original 350 design. I believe he kept pushing for no changes. That would have been great. I hope his successors follow the same tack. Keep the 350 as originally designed. We can easily live with that. Actually we can easily live with lots of things but that is for another time.

As far as the share thing is concerned, I really dont care. I hope that the appropriate authorities investigate and deal with this matter accordingly.

Opinions just like certain anatomical parts, every body has one, so if you are of the opinion that the man led airbus to greatness (and the title of largest aircraft manufacturer for 5+ years) than have a nice day. I think people who villify him, and who are vested in eads, have a right to be upset. If he led airbus to greatness for 5 years or so (is this really true? I dont know the history... perhaps it was his predecessor who left airbus in great shape) but then he led airbus down a bad path. They are of course right in having an opinion of him less than yours.

finally, for the salary he makes I think he si quite comfortable if certain eads leaning A.net members have a go at him. And I am sure he does not give a hoot about non eads leaning airnet members.

Do you think he'll be penniless becasue of us? Do you think history will judge him any differently???


Anyways, I hope this explains, A bit better, the post you referenced. Sorry for not explaining it better.


Peace

Elvis77
Leper,Unevolved, Misplaced and Unrepentant SportsFanatic and a ZOMBIE as well
 
User avatar
SLCUT2777
Posts: 3407
Joined: Sun Jan 01, 2006 12:17 am

RE: Forgeard Gets Three Years Salary Handshake...

Mon Jul 10, 2006 3:14 am

Quoting BoomBoom (Reply 10):
In America CEO's get treated far differently than wage slaves.

In the USA, corporate CEO's are worse than Professional Athletes or Hollywood Actors/Actreess.' It is disgusting greed at it's worst possible scenario. It's like management telling rank and file workers taking salary cuts while they get a fat bonus; "Let Them Eat Cake." When their heads roll, their heads should roll!  ashamed   devil   gnasher   hissyfit   irked   mad 
DELTA Air Lines; The Only Way To Fly from Salt Lake City; Let the Western Heritage always be with Delta!
 
astuteman
Posts: 6340
Joined: Mon Jan 24, 2005 7:50 pm

RE: Forgeard Gets Three Years Salary Handshake...

Mon Jul 10, 2006 3:51 pm

Quoting BoomBoom (Reply 10):
In America CEO's get treated far differently than wage slaves



Quoting SLCUT2777 (Reply 19):
In the USA, corporate CEO's are worse than Professional Athletes or Hollywood Actors/Actreess

Unfortunately, I suspect that it's a fact that the type of guys who get offered CEO's jobs are far more diligent in negotiating their contracts than your average employee, and also in most cases probably have far more leverage over what gets inserted in those contracts.
I also suspect that's true wherever the CEO happens to be in the world.

One would imagine Forgeard got his "contractual" entitlements.

Regards

Who is online