Wal-mart former executive Caughlin admitted to embezzling money from Wal-Mart for his hunting hobby -- some for the lodge, some for his dogs and a bit for liquor and beer. He did this while still in the role of protege to the iconic Sam Walton. Wal-Mart tried to deny him his $17m retirement package but Caughlin sued in Bentonville -- AND WON!!!
Coughlin then counter-sued for emotional distress. (Yes, really. You can't make up this stuff.)
Finally, the Arkansas Supreme Court said that Wal-Mart need only pay a meager $6.75m to Coughlin. Meanwhile, Coughlin is staying home on prolonged house arrest.
I am SO glad I don't own Wal-Mart stock. As ludicrous litigation and upside-down executive pay goes, this deserves an award.
More ranting about this on todays's AmieDeveroLive show. Use the widget at the left to find the show and listen!
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