Mr Chenevert....Working hard for the money.....Not really!

Proving the point that rich people are rich because they work harder…… we look at the FORMER CEO of United Technologies Louis Chenevert. 

Last month Mr. Chenevert resigned as CEO of United Technologies…… not because he was a hard worker, but rather because he was NOT a hard worker. 

Turns out he cared more about his latest, greatest, and biggest yacht then he did about running his company. 

Someone noticed this little problem and mentioned it to him.  He didn’t like that, and to prove how hard he likes to work he quit.  But don’t cry (wipe those tears) because he left the company with piles and piles and piles of money.  $172,000,000.00 to be exact. 

See it pays to not work hard.  Mr. Chenevert is living proof.

He is even leaving the company with a $32,000,000.00 Pension.  You remember pensions…… those are the things your parents had.  Well that was before CEO’s (like Mr Chenevert) got rid of them all.  Well they got rid of them for you.  They kept them alive and well for themselves.  See there are rules that apply to you…… and then there are rules that apply to them.  What you find is they are not exactly the same rules.

Mr. Chenevert bought a 63-foot Hatteras motor yacht in 2003.   (Embarrassing….Nobody is going to take him seriously with a 63 foot yacht.  What a joke.)

He sold it after he had a new 85-foot vessel custom built by Horizon Yacht Co. at a factory in Kaohsiung, Taiwan. (85 feet is OK….. but are we going to get serious at some point.  He must have been the laughing stock of his neighborhood with this weak effort.)

Mr. Chenevert sold his second yacht last year after listing it for $3.3 million and is having a new, bigger one built by Horizon at the same factory. Mr. Chenevert stopped there to check in on the yacht's progress from Nov. 10 to Nov. 12, a person familiar with the matter said.

The new vessel, a 110-foot-long P110, is being customized for Mr. Chenevert, the person said. The standard model can accommodate between 16 and 20 passengers, features an enclosed "sky lounge" above the main deck and is powered by twin 1,600 horsepowerCaterpillar engines.  (Now we are getting somewhere.  He may now be unemployed but he is well positioned to parrrr-tay!  Round up the ladies and head out to sea.  He earned it. 

Pay no attention to the F-35 engine that blew up on the runway…That is no longer his problem.  Let someone else deal with that.  Pop the Champaign and lets go….)

http://www.nasdaq.com/article/utcs-boss-sails-away-after-board-questions-a-trip-20141205-00674

http://www.bloomberg.com/news/2014-11-25/united-technologies-chenevert-leaves-with-172-million-package.html