Grrrrrr: BP chief executive Tony Hayward to get $930,000 annually, while people in the gulf cannot work due to drilling ban

I realize that I am not going to win any friends on the right for pointing this out. But, I think this is just straight up BULLCRAP:

BP chief executive Tony Hayward will get an immediate annual pension worth about £600,000 ($930,000) when he leaves in October, the BBC has learned.

Mr Hayward is to stand down after sustained criticism of his handling of the Gulf of Mexico oil leak.

However, a BP source said he would be nominated for a non-executive position at the firm’s Russian joint venture.

BBC business editor Robert Peston said that the pension entitlement was “bound to be hugely controversial”.

BP pension scheme rules say that those who joined before April 2006 can take the pension at any point from age 50. Mr Hayward is 53.

He will also receive a year’s salary plus benefits worth more than £1m.

Mr Hayward’s pension pot is valued at about £11m and he will keep his rights to shares under a long-term performance scheme which could – depending on BP’s stock market recovery – eventually be worth several million pounds.

Our business editor said that because Mr Hayward was leaving by mutual agreement rather than being sacked, the BP board felt it had “to honour the terms of its contract with him”.

via BBC News – BP boss Hayward to get immediate £600,000 pension.

This jerk off, who was at the helm, when the oil rig, which was owned by BP, exploded killing eight people —- is going to get $930.000 a month. Meanwhile, there thousands of people, who live in the gulf; that cannot work because of the oil spill down there…. and what does the U.S. Government tell them? “Oh, let them collect an unemployment check.” Memo to the Obama Administration: Like Governor Bobby Jindal said; those people would rather work, than collect a check from the Government, and Unemployment does not pay as much as, you know, actually working?

Anyhow, I do not really fault the man for collecting that money. I mean, he did work for it. It just looks horrible and does give BP a bad image. Kudos to the BBC for pointing this out. I noticed the Stateside papers really did not point this fact out. I wonder if it was intentional? It is to wonder.

Others: The Atlantic Online, Washington Post, Wonk Room, PostPartisan and Climate Progress

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