When lower-level employees of most companies get fired, if they are lucky, they might get 2 weeks severance. Often though, they just get escorted out by security. Why should corporate executives be any different? Larry Brown surely can't argue he earned consideration, nor can it be argued that he even needs the money.
The Knicks Boldly Go Where Companies Have Not NO one was surprised by the recent announcement that management of the New York Knicks had decided to fire the team's head coach, Larry Brown, after he presided over an utterly dismal 23-59 season. The surprise was over the company's decision not to pay him the $40 million remaining on his contract because, the company says, Mr. Brown violated club policy in seeking to make trades and violated the team's media policy in talking to reporters. The Knicks, in firing Mr. Brown “for cause,” are boldly going where many companies have feared to tread — and may be signaling a new willingness by corporations to start asserting their legal rights to sidestep, or reduce through negotiations, huge severance packages.
Tags: Basketball, /Knicks, /NBA
