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A $2 million goodbye

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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




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