Among the more interesting nuggets in Sunday's paper - Steven C. Preston, the president's nominee to run the Small Business Administration reportedly struck a deal with his employer, ServiceMaster, a large public company, to receive $2 million in severance pay in the event he left the company between March 1 and the end of June. He was nominated by the president last week. A spokesperson for the company told the New York Times that, at the time ServiceMaster approved the payment, "[w]e had some anticipation that this nomination was going to come through."
Weird world we live in. You used to pay people a bonus to stay at your company, not in anticipation of their departure.
Last updated: May 1, 2006
MIKE HOFMAN was previously editor of Inc.com and a deputy editor at Inc. magazine, which he joined in 1996. The site was nominated for a National Magazine Award for Digital Media in 2010, and was named the best business website by Folio Magazine. In 2006, Hofman was part of a team of writers nominated for a Webby Award for best business blog. He lives in New York City. @mikehofman