Suite Deals
Me and My Bodyguard
Former Citigroup C.E.O. Chuck Prince got a well-publicized $40 million exit package when he was forced out in November, in the wake of the company's subprime-mortgage woes. The deal includes office space for the next five years in midtown Manhattan, where the going commercial rate is slightly more than $100 a square foot.
The $161.5 million severance deal Merrill Lynch made with ousted C.E.O. Stan O'Neal provides for "reasonable office space" in New York City for the next three years. There's only one catch: Merrill Lynch's headquarters, at 4 World Financial Center, are off-limits.
Warren Spector stepped down as co-president of Bear Stearns in early August, after two of the firm's hedge funds melted down, costing investors more than $1 billion. Spector didn't receive any office space in his package but was allowed to purchase "movable office furniture" at fair market value.
Acxiom chairman Charles Morgan announced his retirement in October, on the same day that the firm's $2.3 billion sale to two private equity firms collapsed. Several weeks later, the data company agreed to furnish Morgan with office space, an assistant, and technology support for the next three years.
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