Originally published Wednesday, October 1, 2008 at 12:00 AM
Comments (0) 
E-mail article 
Print view
WaMu's Fishman would refuse $11M severance pay
Alan Fishman, named Washington Mutual's CEO just 18 days before it was seized by federal regulators, will not accept a severance payment even if he is entitled to it, a spokesman representing him said Wednesday.
Seattle Times business reporter
PREV
Alan Fishman, named Washington Mutual's CEO just 18 days before it was seized by federal regulators, will not accept a severance payment even if he is entitled to it, a spokesman representing him said Wednesday in an interview.
"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.
He would not comment on whether Fishman would keep a $7.5 million signing bonus or whether he is still employed at WaMu. The nation's largest thrift was taken over Sept. 25 by the Federal Deposit Insurance Corp., which sold most of it to JPMorgan Chase.
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.
Melissa Allison: 206-464-3312 or mallison@seattletimes.com
Copyright © 2008 The Seattle Times Company
More Business & Technology headlines...
E-mail article 
Print view Share: 
Digg 
Newsvine
Flood fears dampen business, home sales
NEW - 12:51 AM
A Bing deal for Microsoft, News Corp.?
Amazon, Wal-Mart escalate Web price war
Disney's new movie chief recasting studio
Madoff liquidator wants $22M for 5 months' worth
PNW Magazine | Easy As Pie
A little friendly competition between professional pie-baker Kate McDermott and The Seatttle Times' Kathleen Triesch Saul is handled with great taste.
Real Salt Lake wins MLS Cup
Raw Video | Real Salt Lake fans celebrate
Raw Video | Real Salt Lake receives the MLS Cup trophy
Real Salt Lake fans enter Qwest Field
Raw Video | MLS Cup Opening Ceremony
LA Galaxy's David Beckham
Real Salt Lake's Kyle Beckerman
MLS trophy arrives in Seattle
Chittenden Locks Inspection
- Illegal workers quietly let go
- Sprouts, raw fish on attorney's 'do not eat' list
- Jerry Brewer | Jerry Brewer: Seahawks can't lean on the Hutch Crutch now
- Woman stabbed by stranger in North Seattle
- Tattoos at Mill Creek church pierce skin, soul
- UW, WSU once again meet to see who's worse
- Food-safety lawyer's wish: Put me out of business
- Husky Football Blog | Ranking the Pac
- Vikings easily beat the Seahawks
- Tugboat sinks at Seattle waterfront pier
- Illegal workers quietly let go 408
- Climate change speeds up since 1997 Kyoto accord 215
- Metro won't cut bus service after all 160
- New Husky recruit: Enes Kanter 106
- Bellevue residents blast new bikini espresso stand 96
- Middleton says Huskies "plan on scoring at least 50 points'' Saturday 86
- Tattoos at Mill Creek Church pierce skin, soul 85
- Seattle woman charged with knife attack on boyfriend's ex 76
- Jerry Brewer: Seahawks can't lean on the Hutch Crutch now 75
- Senate Democrats split on health bill's fate 58
- Sprouts, raw fish on attorney's 'do not eat' list
- Tattoos at Mill Creek church pierce skin, soul
- Food-safety lawyer's wish: Put me out of business
- Illegal workers quietly let go
- Architects, chefs find 'kid' within to build Gingerbread Village
- Rediscovering Moab, 'the most beautiful place on Earth'
- Hutch gets $10M from Bezos family for immunotherapy research
- UW, WSU once again meet to see who's worse
- Children in home day care watching hours of TV, study says
- Taste | The Great Pie Bake-off pits friends and fruit
