Mike Lazaridis and Jim Balsillie, the former co CEO team who oversaw everything on RIM from the rise to fall, aren't doing so bad, because, even though the failure was great they got a really expensive parting package.
The Wall Street Journal reports the golden package disclosed in RIM's latest filing with the SEC, and as WSJ points out, RIM was worth 16 times what it's worth today, five years ago. And the people who were in charge of that were Mike and Jim. And for their years of service which brought absolutely no bump into that worth, they got a whole chunk of money that could have been better spent on hiring some talent instead:
Balsillie was given a payout of $7.93 million for the current fiscal year, which includes salary, bonus and a severance package valued at about $4.8 million. Lazaridis received $3.96 million in salary and awards, as well as a 10-year extension on health coverage for himself and his family, and a company car and driver.
[WSJ]
