In 2002, Ford announced some of the details concerning the firing of former CEO Jacques A. Nasser, which followed a $5.4 billion loss during his last year in the job (Mullaney & Darnell, 2002). In addition to an annual pension for life of nearly $1 million (he is only 53 years old) and performance bonuses through 2003, he received full payment on stock granted to him in 2001. It isn’t known how many shares he received, but his 2000 award is now worth $5.8 million (Business Week, 2002, Jan. 14). This type of “golden parachute” or “sweet severance” package is not unusual when a corporation terminates a CEO for lackluster performance. Why do you think boards of directors approve of such deals for disgraced CEOs on the way out, when most employees who are laid off receive at most a few weeks’ severance pay? Is this practice in the company’s best interest? Explain.