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Politics : Politics for Pros- moderated

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To: KLP who wrote (271897)	10/2/2008 12:09:22 PM
From: Alan Smithee	Read Replies (1) of 794008

WaMu CEO Fishman won't accept any severance pay By Melissa Allison Seattle Times business reporter Alan Fishman, named CEO of Washington Mutual just 18 days before federal regulators seized it, will not accept a multimillion-dollar severance payment even if he is entitled to it, a spokesman representing him said Wednesday. "It is doubtful that Mr. Fishman would be entitled to severance payments under his contract because of FDIC regulations, but in any event, he would not accept severance under these circumstances," the spokesman said Wednesday in an interview. He would not comment on whether Fishman would keep a $7.5 million signing bonus or whether he is still employed at WaMu. Fishman's employment contract made him eligible for $11.6 million in cash severance, according to James F. Reda & Associates, a compensation-consulting firm in New York.

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