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This week that rebellion will be crushed--along with thousands of jobs--as Xerox is expected to announce its latest massive restructuring. Last week the company was reportedly considering selling its debt-ridden financing operation, which lends money to prospective customers, to GE Capital. It has also discussed selling Xerox PARC, its research center in Silicon Valley, a source of great innovation--from the computer mouse to the graphical user interface and laser printer--but, thanks to the missteps of top brass, not a source of much income...
...detailing his struggle with testicular cancer, and in September, Fall Down, Laughing: How Squiggy Caught MS and Didn't Tell Nobody, by David Lander of Laverne & Shirley. But you don't have to be ailing to get a lot of money for your book; you could just be rich. GE chairman Jack Welch is getting $7.1 million to crank out his story when he retires next year...
These issues came into focus for me as I marveled at the extraordinary pay package unveiled last week for former GE executive Gary Wendt, the new boss at Conseco, whose high-profile divorce in 1997 became a test for the worth of a dutiful corporate wife. Some would say the position pays quite well, thank you. Lorna Wendt got $20 million in parting. Yet that's barely 15% of her estimate of her husband's net worth at the time. She has appealed and seeks an additional $35 million...
...that sounds greedy, consider her husband's five-year deal to serve as CEO of this beleaguered insurance company. Wendt landed a $45 million signing bonus and a guaranteed bonus of up to $50 million in two years--although he did forfeit some GE incentive money. He will also be getting stock, stock options and, oh yeah, a salary of many millions more. His ex will get none of it. As noted, Lorna Wendt won't go begging. But the man she spent 32 years with is now, just a few years removed, infinitely more wealthy than...
This feeling of solidarity grew online long after the last splinters of glass from Seattle's vandalized Starbucks had been cleaned up. While their foes were busy checking real-time quotes for Intel and GE, the antiglobalists were swapping digital photos of police brutality, reading Noam Chomsky's essays on media brainwashing and posting tips on defending against pepper spray (wear a handkerchief soaked in vinegar). The irony of all this is stark, and possibly galling to the technocrats: the Web was supposed to be globalism's great tool, not a forum for its enemies. The Web was supposed...