Biggest Golden Parachutes
As outcry grows over executives who reap millions in severance bonuses in the face of their companies' downfalls and bail-outs, TIME takes a look at other golden parachutes — and the people who opened them.
—Claire Suddath
James Kilts wasn't fired from The Gillette Co., he just lost his job. When Procter & Gamble absorbed Gillette in 2005, the CEO position was made redundant. So Kilts took a $165 million payout, plus another $13 million to cover the transaction's resulting taxes. Suddenly, unemployment didn't seem so bad.
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