CEG chief waives payoff

CEG chief waives payoff

There are 14 comments on the Baltimore Sun story from Oct 18, 2008, titled CEG chief waives payoff. In it, Baltimore Sun reports that:

Constellation Energy Group said yesterday that Chief Executive Officer Mayo A. Shattuck III would waive $18 million in cash severance under the company's planned merger, though he still would be eligible for ...

Join the discussion below, or Read more at Baltimore Sun.

god bless america

Westminster, MD

#1 Oct 18, 2008
yo'alley, the box putz who is govrnor is wondering how he did get this kind of a deal. after all shattuck only screwed up one compny, yo'mllall destroyed baltimore city, the state of maryland and all it's citizens. the legal ones anyway.
MikeA

Yulee, FL

#2 Oct 18, 2008
Incentive payments for what - running another corporation into the ground? After destroying Alex Brown & Constellation, Mayo III should be in court instead.
oh brother

Severna Park, MD

#3 Oct 18, 2008
he's going to give his 18 million to charity (nice tax write off there) and the company will match it. Great. why not just leave it in the company? no, that would make too much sense.
Judy Meehan

Baltimore, MD

#4 Oct 18, 2008
I would still like to know what has happened to all of the profits from the 50% rate increase? That money does not need to go into Shattuck's pockets. Anyone listening out there?
MD tax them to death st

Westminster, MD

#5 Oct 18, 2008
Mayo shares half the blame. MOM shares the other half. Rememember the political football of CEG during the governor election. Marty promised not to let big bad CEG merge with FPL without his blessing. Well that large infusion of CASH from FPL would have shored up CEG and not put them in the position they found themselves in. Look at the big picture please. Politics once again screwed up business as usual in merry ole MD.
Realist

Montgomery Village, MD

#6 Oct 18, 2008
Mayo should be doing a "perp" walk like the Enron execs...
Kevin

Miami, FL

#8 Oct 18, 2008
No way consumers do not shafted in this deal.
Observer

United States

#9 Oct 18, 2008
MD tax them to death st, so you mean to tell me that if CEG were allowed to merge with FPL, they would be immune to everything that has recently happened in the market?
Think people

Cockeysville, MD

#10 Oct 18, 2008
why isnt shatfuck indicted?
FED UP

Dundalk, MD

#11 Oct 18, 2008
MikeA wrote:
Incentive payments for what - running another corporation into the ground? After destroying Alex Brown & Constellation, Mayo III should be in court instead.
More like in jail!
Jesse

Macomb, MI

#12 Oct 18, 2008
god bless america wrote:
yo'alley, the box putz who is govrnor is wondering how he did get this kind of a deal. after all shattuck only screwed up one compny, yo'mllall destroyed baltimore city, the state of maryland and all it's citizens. the legal ones anyway.
Sarah Palin, is that you? I would imagine so -- I can barely understand your message!
Steev

Baltimore, MD

#13 Oct 18, 2008
What would have saved BGE/CEG was not over-leveraging and playing at being a commodity trader.
If the merger with PEPCO had not been scuttled by politicians and the state regulators, I think things would have been a lot better for BGE now.
I agree with another poster that Shattuck has run two premier Baltimore companies into the ground. He really needs to go. I hope he moves away so he can't destroy another Baltimore company/institution, like Under Armour or Hopkins.
garys done

Cockeysville, MD

#14 Oct 18, 2008
Jesse wrote:
<quoted text>
Sarah Palin, is that you? I would imagine so -- I can barely understand your message!
of course u cant, ur from severn....lookout, plane landing
rich in parkville

Sykesville, MD

#15 Oct 19, 2008
if a company fails the CEO should get NOTHING. Thats the way it works at all other levels in the business world. How many Department Heads have been fired or demoted because their group or office didn't meet goals?

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Constellation Energy Group Discussions

Title Updated Last By Comments
News EDF, Constellation announce deal on US reactor (Oct '10) Nov '11 Johned 11
News Construction Begins On Md.'s Largest Solar Project (Sep '11) Sep '11 eric 1
News Constellation Energy Management Says it Has a P... (Jul '11) Jul '11 Trisha 1
News BGE workers to vote on unionizing (Nov '10) Dec '10 William 2
News BGE's customers to get $170 rebate -- Elections... (Apr '08) Oct '10 SJ Strategies LLC 47
News Constellation Energy Offering Residential Elect... (Sep '10) Sep '10 Skeptical 1
News Deregulation left BGE customers with higher cos... (Jan '08) Jul '10 Scott 26