cancel
Showing results for 
Search instead for 
Did you mean: 

Equifax "Retirements" Have Begun

Super Contributor

Re: Equifax CEO $30M Payday When Fired


zmon wrote:

Gotta love those golden parachutes. The worst part is the whole industry participates in this behavior with their executives. If only there was some sort of regulator that could crack down on these things...



I've been a government employee for many years and the problem is the government is worse.  We promote poeple who should be fired.
12/08/2017 FICO: EQ 843 TU 849 EX 844
Message 11 of 19
Community Leader
Valued Contributor

Re: Equifax CEO $30M Payday When Fired


marty56 wrote:

zmon wrote:

Gotta love those golden parachutes. The worst part is the whole industry participates in this behavior with their executives. If only there was some sort of regulator that could crack down on these things...



I've been a government employee for many years and the problem is the government is worse.  We promote poeple who should be fired.

I've been an employee of my local county for several years and I haven't seen anything like that. In fact, when a voter referendum passed in the last election raising the minimum wage in Arizona to $10/hr. + requiring sick pay many part time county employees who get zero benefits got a pay raise & sick pay. I find comparing government employees to the champagne & caviar benefits the corporate execs get offensive.


Fico 08: 720/721/719 TU/EX/EQ
Message 12 of 19
Contributor

Re: Equifax CEO $30M Payday When Fired


zmon wrote:

Gotta love those golden parachutes. The worst part is the whole industry participates in this behavior with their executives. If only there was some sort of regulator that could crack down on these things...


Here is an idea instead of paying htem X amount if they are fired make them pay the company X amount instead.



Equifax - 644
TransUnion - 641
Experian - 639
Message 13 of 19
Contributor

Re: Equifax CEO $30M Payday When Fired


DaveInAZ wrote:

marty56 wrote:

zmon wrote:

Gotta love those golden parachutes. The worst part is the whole industry participates in this behavior with their executives. If only there was some sort of regulator that could crack down on these things...



I've been a government employee for many years and the problem is the government is worse.  We promote poeple who should be fired.

I've been an employee of my local county for several years and I haven't seen anything like that. In fact, when a voter referendum passed in the last election raising the minimum wage in Arizona to $10/hr. + requiring sick pay many part time county employees who get zero benefits got a pay raise & sick pay. I find comparing government employees to the champagne & caviar benefits the corporate execs get offensive.


The problem is in most government places those that don't work don't get fired (or get promoted) or they just get shifted to another department or detailee to another place.

 

Now this isn't always true, you do have some that actually work the problem is they have to take up the slack of the others.



Equifax - 644
TransUnion - 641
Experian - 639
Message 14 of 19
Valued Contributor

Re: Equifax CEO $30M Payday When Fired


VoltaicShock wrote:

DaveInAZ wrote:

marty56 wrote:

zmon wrote:

Gotta love those golden parachutes. The worst part is the whole industry participates in this behavior with their executives. If only there was some sort of regulator that could crack down on these things...



I've been a government employee for many years and the problem is the government is worse.  We promote poeple who should be fired.

I've been an employee of my local county for several years and I haven't seen anything like that. In fact, when a voter referendum passed in the last election raising the minimum wage in Arizona to $10/hr. + requiring sick pay many part time county employees who get zero benefits got a pay raise & sick pay. I find comparing government employees to the champagne & caviar benefits the corporate execs get offensive.


The problem is in most government places those that don't work don't get fired (or get promoted) or they just get shifted to another department or detailee to another place.

 

Now this isn't always true, you do have some that actually work the problem is they have to take up the slack of the others.


Many times after these who get fired, get their big pay day - they go elsewhere for a job, still making a ton of money.. I wouldn't be shocked if we see him working for experian or TU down the road.

Amex Green • Amex BCP • Amex HH (Surpass®) • Barclay Rewards • Chase World of Hyatt • Capital One Quicksilver • Discover it • PENFED Platinum Rewards • Marvel MC • Amazon Store • Kohls Store • CL $92,130 • Car Loan (PENFED) 1.99%

FICO® 8 Scores 790+
Message 15 of 19
Moderator

Re: Equifax "Retirements" Have Begun


marty56 wrote:

IMHO it was a TU mole that did it.

 

As a cyber secruity professional, I might benefit from this.  Show me the money!


I work around the network security space though I wouldn't call myself a professional... though that may be unavoidable with the current technology trends.

 

That said, the "retiring" c-level folks aren't going to jail over this; there will assuredly be a class action lawsuit against Equifax for damages or similar, but unless gross or willing negligence can be proved I can't see this happening.

 

It'd be a scary precedent to set: nobody, no company, no individual, no government is 100% defensible from hacks short of having a disconnected network (C2 grade or higher IIRC); that is impossible with Equifax's business model as they're absurdly interconnected in today's economy by their very nature.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge
Message 16 of 19
Valued Contributor

Re: Equifax "Retirements" Have Begun

It is now being reported that CEO Richard Smith has “retired”. No doubt he has left with an armored truck full of cash.

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
Dec 2017: EX8: 736; EQ8: 736; TU8: 747; EQ04: 734 FICO 9 Scores about 50 points higher
In My Wallet: Discover $63.7K; Cap1 Venture $36.7K; Amex ED $38K; Amex Optima $12.5K; Amex Delta Gold $15K; Cap1 Plat $8.4K; Barclay $7K; Citi TY Pref $13K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $209.8K
My UTIL: Less than 1% - Only allow about $10 a month to report, on one account. .
Message 17 of 19
Moderator

Re: Equifax "Retirements" Have Begun

According to the Hill the CEO will walk with 90M....

 

http://thehill.com/policy/technology/352807-equifax-ceo-to-collect-90-million-report

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne
Message 18 of 19
Community Leader
Super Contributor

Re: Equifax "Retirements" Have Begun


gdale6 wrote:

According to the Hill the CEO will walk with 90M....

 

http://thehill.com/policy/technology/352807-equifax-ceo-to-collect-90-million-report


Ya he "quit".. Sad he is walking with so much.. He grew the company but also shrunk it under his leadership

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | Barclay's | US Bank | Fifth Third Bank | FNBO
Message 19 of 19