Quote: John Krenicki is giving up his General Electric Co. paycheck. But he's going to be collecting an allowance.
As part of a deal to keep the veteran executive from joining a competitor for an unusually long three years, the conglomerate has agreed to pay Mr. Krenicki $89,000 a month until 2022.
The payment to Mr. Krenicki, who is 50 years old, was dubbed a retirement allowance by GE and is worth $1 million a year.
funny huh.............
For Retiring GE Executive, $89,000/Month Not to Work - WSJ.com
Looks like one of those "union teacher" sweetheart retirement packages huh.............(yes I realize the "difference"..
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