Pittman and Bressler Pad Their Golden Parachutes

Quick: what do you do when your company is $20.4 billion in debt and you’re not going to make your numbers in the first quarter?

If you’re iHeart Media, the top guys give themselves a nice raise and get their golden parachutes ready.

I can promise you that a lot of iHeart employees who have to suffer under Bob Pittman (Frick) and Richard Bressler (Frack) are going to be angry when they see this.

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  1. How much are they appropriating for themselves – it’s huge.
  2. Why are they trying to sneak this through, don’t they have to deal with the SEC?
  3. The magic end date (they come right out with it) – is this the day they leave?
  4. Whoa! Is this a trial run to see if anyone notices? In other words, is there more compensation getting ready to be added to Rich and Bob’s deals.
  5. What Rich and Bob are doing is considered highly unusual – here’s what most companies do when building a golden parachute for key execs.

The answers begin here.

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