EDS CEO Dick Brown, he of the infamous memo, was forced out by the company's board of directors. Brown claims it was a mutual decision between him and the board. Insiders know better.To assuage the hurt of his termination, the Plano-based underperforming company paid Brown a staggering $37.4 million dollars: $12.4 million in cash, $5.4 million in stock, and $19.6 million in retirement benefits. This comes after EDS cut its profit forecast three times last year and while the company labors under an SEC inquiry. The New York Times reports: Some analysts and investors said that Mr. Brown, who was succeeded by a former chief executive of CBS, Michael H. Jordan, did not merit the compensation he got last year or the severance pay. Do you think?"The performance under his tenure does not come close to justifying more than $92 million in salary and benefits paid to Dick Brown over the last two years," said Adam Frisch, a UBS Warburg analyst who rates E.D.S. as hold and does not own the stock. Brown, of course, sent out a memo after his termination proclaiming the wonderful things he had done for the company.I repeat my standing offer from earlier this week: I will take over any company, run it into the ground for one year, and only accept $1 million in severance pay. Trust me, it's a bargain.
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