Word: bassick
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Dates: during 1980-1989
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...millions of dollars, guaranteed in a hostile takeover. Now, more and more firms are offering similar, if more modest, payoffs to their rank and file who might lose their jobs in a takeover. Dubbed "tin parachutes," the payments sometimes reach 250% of an employee's annual salary. Webb Bassick, a partner at Hewitt Associates, a consulting firm, estimates that as many as 15% of all large public companies have such packages. Among them are Mobil, America West Airlines and Diamond Shamrock, an oil conglomerate. Says Bassick: "It's refreshing to see companies looking at their moral obligation to employees...
...Superior Court Judge, Edgar Bassick, ruled the State had insufficient grounds to try the four protesters, but added that this did not mean automatic dismissal for the other arrested demonstrators...