By Stephen Keating,
Saturday, August 5, 2006
Recent reports that former US West CEO Sol Trujillo got a
$70 million parachute on leaving the company in mid-2000,
just before its merger with Qwest was completed, aren't
news. It was noted in a 2002 Denver Post series on Qwest's
subsequent financial meltdown co-authored by Kris Hudson
(now at The Wall Street Journal).
What is news is how the payday apparently informs Trujillo's
stewardship of Telstra Corp., the Australian telecom company
he now heads. "He's clearly a person who doesn't need a
full-time job," said Trujillo spokesman Phil Burgess,
according to Bloomberg. The implication being that
Trujillo's rich enough to focus on Telstra's well-being and
not his own. Burgess once headed the Center for the New
West in Denver, largely funded by US West.