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A Failure Is Rewarded With $35 Million

August 09, 1998

Cendant Corp. Chairman Walter Forbes will receive a $35-million severance package after he resigned "because of accounting fraud at businesses he once led" ["Cendant's Chairman, 9 Others Are Out," July 29]. It would appear that in spite of stagnation in workers' wages, our economic system can still find money for massive payoffs to corporate executives to whom it is charitable to refer as merely "failed."

ROBERT NIEMANN

Santa Monica

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