Lee Clayton We The People

Courtesy Of "Public Intelligence"

NOW, LET'S SEE THE OSAMA BIN LADEN PHOTOS AND HELMET CAM VIDEOS. SEE THIS POST HERE.

Barack - Conquering Hero Vs. The Republican Debate Freak Show

BARACK LOOKING PRETTY FLUSH AFTER GADDAFI DUCKS' TAKEDOWN, ANOTHER NOTCH IN HIS GRIP! ON TOP OF BIN LADEN, OBAMA IS BATTING 1,000. COMPARE BARACK TO THE REPUBLICAN FREAK SHOW WE SAW IN LAS VEGAS THE OTHER NIGHT, AND YOU JUST CAN'T IMAGINE ANY OF THOSE RIGHT WING NUTJOBS BEING PRESIDENT!

RON PAULS TOO OLD, CAIN IS A BLITHERING IDIOT, SANTORUM, WELL, HE'S SANTORUM..., NEWT IS A CORPULENT PUTZ, BACHMAN IS A SHRILL DRONE, HUNTSMAN-A SUPERRICH MORMAN FREAK, ROMNEY ANOTHER SUPERRICH MORMON FREAK, PERRY - A TWO TIMING, TOUGH TALKING TEXAS HUCKABUCK WHOSE WIFE LOOKS LIKE A CROSS BETWEEN BARBIE AND A PITBULL. HOW COULD ANY OF THESE PATHETIC CREATURES FANCY THEMSELVES PRESIDENT?

NONE OF THE ABOVED MENTION SUPER REPUBLICANS, HAVE COME UP WITH A "JOBS PLAN". NONE, WANT TO EXTEND UNEMPLOYMENT BENEFITS, NONE WANT TO RESET SUBRIME MORTGAGES TO TODAYS' LOW RATES SAVING CONSUMERS BILLIONS. NONE OF THESE PRICK WANT TO PAY DOWN THE DEBT, THEY WANT MILLIONAIRES AND BILLIONAIRES TO PAY MINIMAL IF ANY TAXES. THESE SUPER REPUBLICANS WANT TO ELIMINATE HEALTH COVERAGE FOR 10'S OF MILLIONS NOW COVERED UNDER "OBAMA CARE". THESE PRICKS WANT TO PRIVATIZE THE POSTAL SERVICE AS WELL AS ANY OTHER QUASI GOVERNMENT INSTITUTIONS AND AWARD THESE CONTRACTS AS PATRONAGE TO THEIR MOST GENEROUS SUPPORTERS. THESE AH'S WOULD NEVER THINK TO REIGN IN THE PENTAGON, CUT MILITARY SPENDING AND END THE WARS, THEY WOULD RATHER OPERATE LIKE NORTH KOREA WHERE THE PEOPLE STARVE WHILE THE MILITARY AND POLITICIANS HAVE EVERY PERK AND BONUS.

THESE BASTARDS CARE NOTHING ABOUT YOU, YOUR SPOUSE, YOUR KIDS, YOUR PARENTS, YOUR BROTHERS AND SISTERS - THEY ONLY WANT POWER TO KEEP YOU DOWN AND PROTECT THE STATUS QUO. THEY'VE MADE IT IMPOSSIBLE TO LIQUIDATE STUDENT LOANS THROUGH BANKRUPTCY ENSURING A LIFETIME OF DEBT AND PENURY. BILLIONS FOR THE BANKSTERS, WALL STREET SLICKERS AND THE PENTAGON WAR PIGS. ZERO FOR MAINSTREET! WHERE ARE THE JOBS, WHERE IS THE TRAINING, WHERE ARE THE UNEMPLOYMENT BENEFITS, WHERE IS THE JUSTICE?

Trillions For The Bankers, Wall Street And The Pentagon War Machine - Zero For Mainstreet - The Bastards!

Despite a majority of Senators voting to take up debate of the American Jobs Act, a minority succeeded Tuesday in blocking the measure from even being considered. The bill includes several key job-creation and tax-relief provisions designed to boost a stalling economy, and programs to aid long-term unemployed workers, including a ban on discrimination against jobless workers in the job market, as well as the essential renewal of federal unemployment insurance programs.

Unless Congress reauthorizes the current federal benefit programs before the December 31^st deadline, millions of workers and their families will be left without their primary means of support to buy food, pay the rent or mortgage, and cover their other most basic necessities.

Lawmakers are reportedly seeking to act on several key components of the jobs bill separately in coming weeks.

An estimated 1.8 million jobless workers will be cut-off from federal unemployment insurance in January alone if Congress fails to renew the benefit programs, according to a new report issued by the National Employment Law Project. This includes nearly 1.4 million unemployed workers already receiving federal unemployment insurance, among them nearly 650,000 who would face an immediate “hard” cut-off of Extended Benefits, as well as more than 430,000 unemployed workers laid off as recently as July who will exhaust their state unemployment benefits in January.

And those numbers may well go much higher, as unemployment remains persistently high and, in many states, rising. In July and August, a total of more than 1.5 million first payments of regular state unemployment insurance were reported.

Over the course of 2012, the Administration projects that at least six million workers will not have access to federal unemployment insurance if the program is not reauthorized. Ms. Dawn Deane, a 49-year-old mother of two from Philadelphia, who was laid off in late June of this year, is one of those workers in danger of losing access to federal benefits. Despite twenty years of professional human resource experience, Deane says her diligent search for new work has thus far been disappointing.

“The unemployment insurance is helping me manage and maintain my mortgage, utilities, and car payments—helping us just barely stay above water,” Deane says in the NELP report. “Without it, I’d just have nothing while I look for new work—not even heat, electricity, or a phone. And if it got cut off, I would fall behind on my mortgage, probably face foreclosure, have my car repossessed, and end up applying for welfare.”

Last week, Deane testified at a House subcommittee hearing, urging lawmakers to renew the federal unemployment insurance programs through next year.

NELP’s report, “Hanging on by a Thread,” warns that a lapse or cut in the federal unemployment insurance programs would deal devastating blows to jobless workers, struggling businesses, and the fragile U.S. economy.

“For millions of out-of-work Americans hanging on by a thread, unemployment insurance is the only thing preventing a free-fall into destitution and despair,” said Christine Owens, executive director of the National Employment Law Project. “For struggling businesses and the halting economy, unemployment insurance is what’s preserving consumer spending at a moment we need it most. Withdrawing this crucial stimulus would likely tip the nation back into recession.”

Since the data were first reported in 1948, the nation has never experienced the record stretch of high unemployment and long-term joblessness that now plagues the economy. Congress has never cut back on federally-funded unemployment insurance when unemployment was anywhere near this high for this long. The highest unemployment rate when federal benefits were cut by Congress was in 1985, at 7.2 percent. Today, the unemployment rate stands at 9.1 percent.

Currently, the unemployment rate has been above 8.5 percent for more than 31 months, and for nearly two years, over 40 percent of the unemployed have been out of work for more than six months.

The report highlights other factors that favor prompt passage of the federal extension of unemployment insurance through 2012:

• Due largely to the federal extension, in 2010, unemployment insurance kept 3.2 million people (including nearly one million children) from falling into poverty. Were it not for unemployment insurance, the number of people falling into poverty would have more than doubled in 2010.

• The federal unemployment insurance programs have saved or created millions of jobs since first enacted in July 2008, including more than 1.1 million jobs in the fourth quarter of 2009 alone.

• Recent research and two new state surveys strongly indicate that workers who are receiving unemployment insurance are more likely, not less, to stay in the labor market and actively seek work despite dim prospects for reemployment.

“With our economy so fragile, long-term unemployment so high, and the job market so weak, the stakes could not be greater or the consequences of inaction more severe,” NELP’s Owens said.

“We are mired in a national crisis of long-term unemployment. Not since the Great Depression have so many people been out of work for so long. This is not the time to cut back on federal unemployment insurance.”

Millions of hardworking Americans—nearly 2 million in January alone, and over 6 million in 2012—will be cut off from the emergency lifeline of federal unemployment insurance, unless Congress acts to renew the program before it expires December 31st.

Right now, of the 14 million Americans who are unemployed, 46 percent -- more than 6 million -- have been jobless and looking for work for six months or longer. That percentage of long-term unemployed has been 40 percent or higher for nearly two full years. The average duration of unemployment has been more than six months for over two years, and the average job search for an unemployed worker now lasts more than 9 months.

Today, the unemployment rate stands at 9.1 percent and has been above 8.5 percent for more than 31 months. Congress has never cut back on federally-funded unemployment insurance when unemployment was anywhere near this high for this long.

Now is not the time to let these programs lapse or expire. It would be unthinkable for Congress to cut-off this vital lifeline for so many hardworking Americans who are struggling to find work when jobs are so scarce. Allowing unemployment insurance to expire would have devastating consequences for millions of jobless workers and their families -- and it would deal a severe blow to the economy and to communities across the country.

Tell Congress to put partisanship aside and take urgent action to renew these critical unemployment insurance programs now.

Renew Federal Unemployment Insurance Now!

To the Leaders and Members of the United States Senate and House of Representatives:

Your action is urgently needed to reauthorize the full federal unemployment insurance program through 2012 before it expires December 31st. Unless you act to renew federal unemployment insurance, nearly 2 million hardworking Americans will be cut off in the month of January alone. Millions more would have this critical lifeline cut off in ensuing months -- over 6 million would lose these benefits during 2012.

These are Americans who haven't chosen to become unemployed -- they've been laid off and desperately want to get back to work. But they now face the worst job market since the Great Depression.

Of the 14 million Americans who are unemployed, 46 percent -- more than 6 million -- have been jobless and looking for work for six months or longer. The average duration of unemployment has been more than six months for over two years, and the average job search for an unemployed worker now lasts more than 9 months. Today, the unemployment rate stands at 9.1 percent and has been above 8.5 percent for more than 31 months.

Congress has never cut back on federally-funded unemployment insurance when unemployment was anywhere near this high for this long.

In the last three years, federal unemployment insurance has helped more than 17 million unemployed Americans when they've had to look for new work for more than six months.

Now is not the time to let these programs lapse or expire. It would be unthinkable for Congress to cut-off this vital lifeline for so many hardworking Americans who are struggling to find work when jobs are so scarce. Allowing unemployment insurance to expire would have devastating consequences for millions of jobless workers and their families -- and it would deal a severe blow to the economy and to communities across the country.

Congress must act now to renew federal unemployment insurance through 2012, and take additional steps to help avert layoffs, create good jobs, end discriminatory job market practices that exclude the unemployed, and get real help to long-term unemployed workers including those who have exhausted unemployment benefits.

We call on the Leaders and Members of Congress from both parties to put partisanship aside and make the right choice for America's families and our economy: Renew Unemployment Insurance Now!

Sign the petition here or contact your Congress Critter directly!

YOUR FELLOW AMERICANS ARE COUNTING ON YOU FOR HELP! ACT TODAY!

The Bastards! Gannet CEO "Retires" On Disability And Gets 37 Million After Running Company Into The Ground! So F'N Typical For American Biz Execs!

MILLIONS FOR THE CORPORATE ELITE - ZERO FOR MAINSTREET! THE BASTARDS!
Gannett CEO Craig Dubow (right) resigned last week for health reasons, saying that back and hip problems prevent him for fulfilling his duties. He leaves a job that could pay him as much as $9.4 million this year, but don’t feel too bad for Dubow: He’s eligible for severance pay of up to $37 million.

The irony of this kind of executive compensation for a company that has laid off nearly 40% of its workforce over the last six years isn’t lost on former New York Times columnist Peter Lewis, who posts a savage send-up of Gannett’s extravagance on his blog. Lewis is particularly brutal in contrasting Dubow’s performance to that of Steve Jobs, who died last week:

Annual base pay: Steve Jobs $1. Craig Dubow $1.2 million.

Stock price during CEO tenure: Apple, up 4,000+ percent. Gannett, down 85 percent.

Job creation during CEO tenure: Apple, plus 28,000. Gannett: minus 20,000.

Notable new products as CEO of Apple: Macintosh, iMac, MacBook, iPod, iTunes, Apple Stores, iPhone, iPad, etc., etc.

Notable new products as CEO of Gannett: ?

Executive pay has been out of control at US companies for decades now, but the practice is particularly offensive at companies in dying industries that are downsizing their way out of existence. Is it conceivable that a talented and motivated executive could be found to lead Gannett at a salary of less than $9 million? How does a company look its employees in the eye and ask them to accept yet another layoff or salary freeze when it nearly doubled the salary of the head of its US newspaper division?

We might just go occupy Wall Street over this.

To the barricades!

Gannett Co. bought The Des Moines Register in 1985. The Register was a great newspaper; at the time it had won more Pulitzer prizes than any other newspaper save The New York Times. I worked for The Register in college and for several years afterward, before my knowledge of soybeans and hogs proved irresistible to The Times and I moved to New York. A couple of years later, when Gannett bought The Register I asked a Gannett executive: How do you pronounce the name of your company? Is it GAN-nett, or gan-NETT?

“It’s gan-NET,” he said. “The emphasis is always on the net.”

He was, of course, referring to the amount of money that is left over after expenses and taxes and accounting tricks … otherwise known as profits. (He was not referring to the Internet, of which Gannett still has barely a clue.)

So it was with profound sadness that I learned of the resignation of Gannett CEO Craig Dubow last week for health reasons. Mr. Dubow, 56 years old and a 30-year veteran of the company, assumed the helm of Gannett six years ago but has been plagued by back and hip problems. Like Steve Jobs, who was four months younger than he, Dubow took a couple of medical leaves of absence before deciding that he could no longer carry out the duties of CEO.

And that’s where the similarities with Steve Jobs end. I do not know Mr. Dubow personally, and have no reason to doubt that he is a fine fellow. My sadness comes not from his departure from Gannett, but for what it exemplifies.

When Dubow took over as CEO, Gannett employed some 52,000 people in its publishing, broadcast, digital and mobile divisions. When he resigned last week, it employed 32,000 people. Among the 20,000 jobs that were cut were thousands of talented journalists. Mr. Dubow also required many employees to take unpaid leaves of absence, and instituted pay freezes. He referred to this as “increasing workplace efficiencies.”

When Dubow took over as CEO, Gannett’s stock price was $72-something a share. At his departure last week it was $10-something, down 85 percent in his tenure.

Last year, while laying off more journalists, Gannett increased Mr. Dubow’s 2010 pay package to $7.9 million. Including the estimated future value of stock awards and options, his 2010 pay package could increase to $9.4 million. Gannett said the raise was meant to reward Mr. Dubow for boosting the publisher’s earnings — remember, the emphasis is always on the net — for the fourth consecutive year.

Mr. Dubow managed to keep earnings high, according to analysts, by cutting costs (i.e. people) more aggressively than any other company in the media industry. Gannett refers to this as “workplace restructuring.”

Mr. Dubow is now eligible to collect a retirement and disability pay package of $37.1 million, according to Gannett.

Bob Dickey, the head of Gannett’s U.S. newspapers division, also got a hefty pay raise in 2010 to $3.4 million, up from $1.9 million the year before. In a memo this summer announcing that 700 more newspaper jobs would be eliminated, Mr. Dickey wrote: “While we have sought many ways to reduce costs, I regret to tell you that we will not be able to avoid layoffs.”

But back to Mr. Dubow. We mentioned the Steve Jobs comparison, and I hasten to add that I wish Mr. Dubow a speedy recovery from the medical problems that required his leaves of absence and resignation.

• Annual base pay: Steve Jobs $1. Craig Dubow $1.2 million.
• Stock price during CEO tenure: Apple, up 4,000+ percent. Gannett, down 85 percent.
• Job creation during CEO tenure: Apple, plus 28,000. Gannett: minus 20,000.
• Notable new products as CEO of Apple: Macintosh, iMac, MacBook, iPod, iTunes, Apple Stores, iPhone, iPad, etc., etc.
• Notable new products as CEO of Gannett: ?

In his resignation statement, Mr. Dubow insisted that his top priority as CEO was to serve the consumer:

“I am extremely proud of where we are today as a company. We have always maintained an unwavering focus on the consumer. As a result, we have evolved into a digitally led media and marketing solutions company committed to delivering trusted news and information anywhere, anytime.”

And the Gannett board insisted that serving the consumer — not, of course, to maximize corporate profits and executive compensation — was the corporate goal.

“Craig championed our consumers and their ever-changing needs for news and information,” said Marjorie Magner, non-executive chairman of Gannett’s board of directors.

Gracia Martore, who replaces Dubow as CEO, said: “We will continue our relentless quest to provide trusted news and information and will actively support the people and businesses in the communities we serve.”

These people are lying. The corporate goal is not to serve the consumer; it’s to maximize profits and pay packages for top executives. Can anyone argue that Gannett newspapers and journalism are better today, and that news consumers are better served?

How did Mr. Dubow and Gannett serve the consumer? They laid off journalists. They cut the pay of those who remained, while demanding that they work longer hours. They closed news bureaus. They slashed newsroom budgets. As revenue fell, and stock prices tanked, and product quality deteriorated, they rewarded themselves huge pay raises and bonuses.

This is the sort of stuff that causes people to occupy Wall Street and main streets in cities across the country.

Should Gannett CEO Dubow have been rewarded for company’s decline?

Peter Lewis, who once was an employee at The Des Moines Register before Gannett bought it, writes that the compensation of departing CEO Craig Dubow is ironic — he stands to collect $37.1 million in retirement and disability and his 2010 pay package was $7.9 million — considering how much the company has shrunk and lost value during his tenure. The company employed 52,000 people when Dubow became CEO; now it’s 32,000. Gannett’s stock traded at about $72 per share then; now it’s around $10. “Can anyone argue that Gannett newspapers and journalism are better today, and that news consumers are better served? … As revenue fell, and stock prices tanked, and product quality deteriorated, they rewarded themselves huge pay raises and bonuses.” Those figures are especially revealing, he says, when compared to similar figures for Apple under Steve Jobs. PaidContent’s David Kaplan writes that comparing a legacy media company to a tech company is a bit of an “apples-to-oranges comparison, pardon the pun. … But in a larger sense, placing Jobs and Dubow side-by-side clearly shows the opportunities on the tech side of the media divide and the misery on the content creation side.” || Related: In addition to the $37.1 million, Dubow gets an office, secretary, free tech support, life and medical insurance, access to Gannett’s plane and more. He has to pay by the hour for the plane. (Footnoted) || Earlier: What’s next for Gannett after CEO resigns, MomsLikeMe shuttered on same day (Poynter.org)

Ex-Gannett Employee: Craig Dubow’s Performance ‘Is What Causes People To Occupy Wall Street’

By Rachel Kaufman on October 12, 2011 12:00 PM

Peter Lewis, a former employee of Gannett (as well as Fortune and the New York Times) has slammed ex-CEO Craig Dubow for cutting jobs and getting paid for it.

Dubow, who resigned Friday citing medical issues, laid off 20,000 staffers during his tenure as CEO, Lewis says. The company’s stock fell from $72 a share to $10. And Dubow’s pay package for 2010 was nearly $8 million.

His retirement/disability pay package could be as much as $37 million, or “considerably” more than the $22.5 million he’d get if he retired for non-disability.

“The corporate goal is not to serve the consumer; it’s to maximize profits and pay packages for top executives,” Lewis writes. “Can anyone argue that Gannett newspapers and journalism are better today, and that news consumers are better served?”

To Dubow’s credit, paidContent says, “Dubow was able to return Gannett to profitability during one of the worst periods for newspaper companies in particular and media companies in general. He’s also tried to pivot Gannett into being a interactive media and marketing company as a way of supporting the traditional side of the business until digital revenues can completely offset print losses.

“But he also cut more than he built, a situation that will plague the legacy of most media company chiefs who had to deal with more challenges than opportunities.”

“This,” Lewis writes, “is the sort of stuff that causes people to occupy Wall Street and main streets in cities across the country.”

What Dubow gets if disability forces him out: $37M; payout much bigger than in traditional retirement

Gannett would pay Chairman and CEO Craig Dubow $37.1 million in disability benefits, stock awards, pension and other payments if his new health problems force him from his job permanently, according to company documents filed with federal regulators.

Dubow

Dubow, 56, is entitled to the payout under terms of his employment contract and the disability policy for senior executives, according to the annual proxy report to shareholders, which Gannett filed in March with the U.S. Securities and Exchange Commission. The payments are considerably more than what he would get, $22.5 million, if he retired voluntarily, the report says.

Dubow also would get limited use of the Corporate jet and access to a country club, the cost of which he would pay -- but at substantially lower, company-subsidized rates, the proxy report says.

The $37.1 million disability payout is outlined on Pages 45-47 of the report.

Martore

GCI announced early last night that Dubow is taking a second medical leave to deal with back and hip problems that sidelined him for four months starting in June 2009. COO Gracia Martore, who became principal executive during Dubow's last leave, will assume that job again. Martore, 60, is his likely successor when he leaves his job permanently -- although her age could become an issue.

In its statement, the company quoted lead board of directors member Duncan McFarland: "We wish Craig well during this difficult personal time. The board has confidence in Gracia and our very capable management team to run the day to day operations of the company, and we believe Gannett won't miss a beat at this important juncture."

The announcement came after stock markets closed. This morning, GCI recently traded for $10.12 a share, up 4 cents.

Length of leave unclear
Dubow has been chief executive since July 2005, and was made chairman of the board of directors a year later. Martore was promoted in February 2010 to GCI's No. 2 executive, president and chief operating officer. She had been chief financial officer since 2003, and first joined the company in 1985.

The company's announcement did not say when Dubow's medical leave would start, and did not estimate how long he might be out. It also did not say when Dubow and the board of directors first discussed this leave, leaving unanswered questions about the urgency of his medical situation.

Published reports last night quoted a GCI spokeswoman saying only that Dubow's problems stemmed from back and hip problems. He has received surgery at least twice in the past.

Since his return to work in October 2009 from his last leave, Dubow has often been seen in a wheelchair and using crutches during frequent visits to GCI worksites. He has been reported on these visits as recently as the past month.

Breakdown of $37.1M
Similar disability payouts, although in very different amounts, also are due to Martore and four other executives, the proxy says.

Here's a breakdown of the estimated payouts to Dubow:

• Pension: $12.9 million
• Stock options: $6 million
• Restricted stock units: $5.3 million
• Disability benefits: $6.9 million
• Final salary, bonus payment: $5.9 million

The proxy report does not detail the specific circumstances, nor timing, under which these benefits would be triggered for Dubow and the other five senior managers known as "named executive officers." It says only that the payments are due "if the employment of a NEO is terminated upon the executive's disability."

Board empowered to remove him
However, under the terms of Dubow's employment contract, the board of directors is empowered to remove him under circumstances where he is no longer able to perform his duties or has otherwise violated the terms of the contract.

If Dubow were to retire voluntarily, rather than via disability, he would get the much smaller $22.5 million as follows, according to Page 43 of the proxy report.

• Pension: $11.1 million
• Stock options: $6 million
• Restricted stock units: $5.3 million

The disability salary and bonus payments are spelled out this way, the proxy report says:

"Pursuant to their employment contracts, upon a termination of employment as a result of disability, Dubow and Martore would be entitled to a lump sum payment in an amount equal to two times the sum of (a) the executive’s base salary as of the date of termination (but no less than the minimum contractually provided for base salaries for Dubow and Martore, and ignoring any voluntary reduction of their salaries) and (b) the greater of (i) the amount of the executive’s annual bonus earned with respect to the year ended prior to the year of termination, or (ii) the average of the executive’s three most recent annual bonuses as of the date of termination."

In 2010, Dubow's base salary was $1.2 million, an amount he voluntarily reduced to $1 million beginning Nov. 1, 2008. His cash bonus was $1.75 million. That is the highest of his three most recent bonuses. In 2009 and 2008, his bonuses were $1.45 million and $875,000. ( Table lists salary and bonus payments for all six NEOs last year.)

GCI is the largest U.S. newspaper publisher by circulation. It has nearly 100 dailies in the U.S., including USA Today, and the U.K. It also owns 23 U.S. TV stations, plus hundreds of other media businesses, employing more than 30,000 workers.

The proxy report's Page 46 details potential disability payments to Martore and the other four officers: Chief Financial Officer Paul Saleh, U.S. newspapers division President Bob Dickey, USAT President Dave Hunke, and broadcasting division President Dave Lougee.

Other non-cash disability benefits
In addition to the $37.1 million in payments, Dubow also is entitled to the same other benefits promised him if he left via a conventional retirement, the report says, in footnotes on Page 44 and 47. They include:

• Supplemental medical insurance coverage that extends to his family, plus a Medicare supplement and reimbursement for the cost of Medicare Part B coverage, beginning at age 65 and continuing for life.
• Legal and financial counseling services on the same basis as available to an active executive at the time his employment terminates, for three years after his employment terminates, at an estimated incremental cost to the company of approximately $25,000 annually.
• Use of company aircraft "for three years after his employment terminates, at times not inconveniencing the company, the cost of which would be reimbursed by Mr. Dubow at the company’s then-effective incremental hourly rate."
• Ownership of existing home office equipment would be transferred to him.
• Home computer assistance, for three years after his employment terminates.
• Use of an office, secretarial assistance and access to company facilities at no charge for three years after his employment terminates.
• Access, for three years after his employment terminates, to "one country club selected by Mr. Dubow of which the company is a member at the time of his retirement and to which Mr. Dubow had access during the time of his employment, the usage cost of which would be paid by Mr. Dubow."

These post-retirement perquisites would terminate, the footnotes says, in the event Dubow provides competitive services to a competitor of the company, as described in his employment contract. Corporate estimates the annual incremental costs to the company associated with these perks of about $50,000.