Severance | featured news

A federal bankruptcy judge has at least temporarily blocked a proposed $20 million severance payment for the CEO of American Airlines as part of the company's merger with US Airways. The judge ruled Thursday that the proposed payment to CEO Tom Horton exceeded limits that Congress set for bankruptcy cases in 2005.

Former General Motors Corp. Chairman and CEO Rick Wagoner will retire Aug. 1 with a benefit package the automaker valued at more than $10 million.

A wave of indignation swept over France when it became known Tuesday that the head of a large auto parts company who was edged out because of poor results walked away with a severance package worth more than $4 million.

Microsoft Corp has dropped an attempt to recoup some severance money from 25 recently fired workers it mistakenly overpaid.