Golden Parachutes from Fundraising Organizations

Golden parachutes have now spread to political organizations and are no longer the unique purview of CEOs at public companies.

More details emerged on Monday about Dick Armey's departure from FreedomWorks. The Associated Press obtained a contract dated September 24 indicating that Armey will make $8 million in consulting fees in exchange for leaving the organization. In an email to Mother Jones, Armey confirmed the $8 million deal, and said the contract was between him and FreedomWorks board member Richard Stephenson.


The moral issue here is that this is money raised from members of the public that thought they were donating to a political cause. Not to line someone's pockets with a golden parachute. Conor Friedersorf outlines the issue in a satirical fund raising email. Morally this should be something an individual chooses not to do since it is aberrant though i suspect amongst those that do this kind of political - and commercial - work it is the norm. Hence the shamelessness.
cam 2012-12-11 07:43:20.0