When Sharper Image CEO Richard Thalheimer "departed" the company in late September, he took the 7-foot-tall Superman statue that used to stand in his office. In his separation agreement, filed on Dec. 29, Thalheimer agreed to pay half-price for the $5,000 Man of Steel statue and for a $15,000 statue of Star Wars' robot C-3PO—though few would argue that his leadership at the San Francisco-based retailer was superheroic. (Same-store sales were down sharply for much of last year, the stock declined by more than 40 percent in 2004 and 2005, and the company plans to restate earnings for the past three years because of questions about backdated options.) Despite this, Thalheimer will still be eligible for a 50 percent discount on all Sharper Image merchandise for the rest of his life. That's in addition to $5.7 million in severance and retirement pay.Does Richard really need a 50 percent discount? With all that money couldn't he just pay full price?
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Sharper Image of Leadership
From Michelle Leder at Slate.com:
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