The planned payout to Memorial Health System CEO Larry McEvoy will exceed $1.15 million, according to the health system.
The separation agreement, which still hasn’t been signed, spells out what McEvoy will receive when he leaves the hospital May 4.
The terms agreed to in principle include up to $20,000 for “outplacement,” which is help in finding a new job, and giving him the title to a 2007 Toyota Camry Hybrid with 45,000 miles.
The car, which McEvoy has used as CEO, is valued at $15,765.
The payout also includes $71,167 in paid time off.
The other terms are:
– 18-months severance $ 1,005,000
– 18 months COBRA (health, dental) $ 25,794 Employer contribution only
– PERA (accrued, non-vested) $ 18,733 Prior to 1/1/11, an employee didn’t need to be vested to get the organization’s
contribution (4% of annual pay up to $250,000/year), so calculation is based on 4% of annual pay up to $250,000 between 1/1/11 – 5/4/12.
WOW!
Amazing how many top echelon failures are rewarded by the enabling society.
And we don’t get raises? Thanks for leading us into destruction Larry!
conservatives should be excited….there will lots of his money that will “trickle down” to us common folks….they will vote for his tax breaks as well…yeah…
Unreal. City employees are a privileged class. They are ALL in bed together.
Were can I drop off my resume? Don’t worry I’ll settle for half and still be happy
ridiculous…why, with this golden parachute would this clown need another job ? and the Camry is a joke…what is it really covering up ?
you’re giving this clown a million bucks ? Where do I sign up for the class action lawsoot ?
Hey Lessismore – some City employees are sickened by this as well. Most of us don’t make in a year what he is getting in accrued time off ($71k) so please don’t lump everyone who works for the public sector into that boat.
Outrageous – this story keeps getting worse… the inmates are running the asylum…
Relax! Everyone calm down! The hospital has been telling us employees that paying for performance (or in this case, lack of performance) doesn’t work and never ever makes things better.
So I feel quite certain Larry will have the integrity to stand up and put a stop to all of these rewards. I just know he took the CBT module that our brilliant HR department required us all to watch saying that rewards cause more harm than good.
Guess what? This reward IS causing more harm than good. Maybe HR was right after all. This reward payout is causing more harm to morale than I have ever seen here. And I’ve been here for 22 years!
Larry, you just lost all respect in my eyes. Your legacy will not be about you caring deeply for patients or trying to do good for the community.
Your legacy will be leaving in a time of crisis and cashing out on your way out. Don’t wait until next Friday to leave. Leave now. And to think that I shook your hand today! I wish I had known of these details before I shook your hand!
I would request that the Gazette publish the emails of the foolish Board members who approved of this deal. Maybe they need to hear from people on this issue.
Larry McEvoy! Shame on you. You lied to me, Larry. You lied. You said you were part of the team. When your children are adults and working for a company, I pray that they don’t work for a CEO that lets them down as much as you have let us down. I feel so betrayed. I am just in shock. I’m crying as I write this. How could you?
So here are the board members. Contact info shouldn’t be that hard to track down.
http://www.memorialhealthsystem.com/wps/wcm/connect/MH/Main+Navigation/About+Us/Our+Leaders/Board+of+Trustees
Can the board? Larry’s slim, but he’s just gettting what the board will give him. What a joke of an organization at the top? UCH can’t come quick enough. Just leave now Larry.
Larry, I am sorry I cried when I hugged you goodbye in the hall today. I take back my tears. I had no idea you had won the lottery. I take back my tears and my loyalty to you and your vision. I thought there were be nothing worse than HCA taking us over. I was wrong. Your stealing our money on your way out the door is worse. Because it’s personal. I know HCA would steal our money. I had no idea you would.
In Larry’s goodbye letter to staff, he mentioned that he’d remember the quiet late nights and hearing the beeping from monitors as patients were cared for. I didn’t realize those beeping sounds were actually from a cash register that he was raiding. Feeling sick to my stomach now.
Union.
Can he have the helicoper too? He might need it to fly out of town in about 5 min, before the riots.
Wow, so I guess this is why purchasing wouldn’t let me order new office supplies. We needed to save money so we could pay an exec who won’t even stay in town after he leaves. Maybe that’s why we closed the Blood Bank too. Gotta save money so we can give money away.
The Blood Bank was shut down by the FDA for compliance failures dating back to the 90s. Yet another feather in the cap.
Penrose, please hire me. I want to leave this place as soon as possible. You can’t be as crazy over there.
When this story surfaced, I enjoyed several calls at my radio show; from folks who know this “larry” guy. None had kind words. I won’t judge him but I would say his life outside his own home must be very lonely now. He certainly wears a badge of embarrassment in my view.
Don’t worry…all of the former Memorial managers have already left and are staffing Penrose and they are heading down the same path…. good luck with that one. I see it sinking in the future too…with all of their “bright” ideas…
Ugh! Flo, if what you say is true, that really is unfortunate. I think I am gonna have to agree with Anarchy and say we need a nurses union.
I’m not even a big fan of unions! But if this is the only way to let management know that they are ruining what a great place Memorial was, then I am for it.
So I’m saying, “Union!”
So much for your “vision” of leading us into the future. Up until this point, I’ve had nothing but respect for you. Very disappointed in the bail on your part. Our Morale is hitting an all time low. Hope Mr. Scialdone can salvage what’s left of it.
$348.95 AN HOUR just for the severance, what a valuable person (toung and cheek)
ARE YOU KIDDING ME?
How can Larry McEvoy be given a $120,000 raise in January and walk away with $1,000,000 while the employees of the hospital have been forced to take “flex time” where they must give up up to 8 hours per week without pay in order to “save” the hospital. All overtime was cut too. Nobody else was given a raise and many extras have been taken away in order to financially save the hospital. Higher health care premiums, higher deductables, 10% of labwork, radiology testing and hospital visits are also new. So, please tell me where is the $1,000,000 coming from? The employees who’s back’s these folks are walking on, that’s where. He may not be the only crook involved in this crime, because this is too fishy for just one guy.
Good for you Larry…We each want a slice of the pie but you got a much bigger piece because you got an education and learnt how to work the system to your advantage. Don’t listen to the ‘Cry Babies’ here who are just bitching because they are too stupid to put themselves in a position such as yours, if it were them getting a million plus bucks you wouldn’t hear a word from them, hypocrites… It’s a dog eat dog world, so enjoy your feast.
Since the late 80′s the ‘Larry’ types have done a great job of BS’ing their way to a top spot, quitting or getting canned and taking out a huge severance. They move on to the next spot, BS some old Chairman who isn’t that bright himself, fake their way through the job with a line and a smile, plus some back slapping, quit, get a severance and head for the next feeding pail. They belong to civic organizations and boast about their elite status, they are in the who’s who magazines and just ruin companies and employees.
They exist in great numbers sort of like those flittering little things migrating west as we write.
wiskey tango foxtrot?
Sickening. Absolutely sickening.
Wow! This reminds me of the scene in “Titanic” when the water is flooding the ship & the rats are fleeing. One big ship with too few lifeboats; lifeboats mainly for the upper eschalon! And the rest of the employes (I mean passengers) are left behind to endure. Despite the fact that no Citizen Vote has occurred, the employees have been told that this University deal is decided. Heck, the hospital has been giving them open access to the facility, tours, meet & greets and their own working space. Where is the city leaders & the citizenry in this equation? Thanks a “million” Larry for situating us for your unsuccessful non-profit venture which has snowballed into a sure sell of an entity that had been one of the city’s finest ventures AND best employers. According to the hospital’s own blog, MHS lost over 8 million in 2011 under your leadership. Of course, now that has risen to over 9 million w/ your payout.
The Memorial Board has abuse their power again. just because the Colorado Springs community did not agree to a retention bonus, they turn around and rename it Severance pay. for crying out loud, what an insult to all of Colorado Springs!
And I’m sure more is coming for the entire executive team because the interim VPs have been promoted to permanent, and the HR director became VP as well. They can just invent any position they want, while cutting jobs from the frontline staff. Why did they not have to apply, while some staff have to reapply for the same position that they have been working for the past 20 years! Some positions have been downgraded and did not offer employees any severance pay. Shame on YOU Memorial Board of Trustees! We do not trust you at all. We have to close the Blood Bank Donor program to save $15,000 but we can give away ONE MILLION dollars, just like that! Oh by the way, we have to be within or below budget, so you have to flex, use cheaper products, you cannot get a raise, you have to work more hours now, and you will not get on call pay. We do not want to hire anyone with good experience as well because they are expensive, so let’s hire newbies. UCH, you need to take Memorial faster or nothing will be left for you!
Makes you wonder what other bad decisions the Memorial Board is making, as only 10% of the iceberg shows above the water…
He needs help finding a new job? Are you kidding me? He is an ER Physician. If I work every day until I retire, I will never earn a million dollars, and he gets it for doing what? . . . Very disappointed in the Memorial Board of Trustees and several of the recent decisions they and the Senior Leadership Team have made this year. I agree with “ConcernedinCOS” – I fear this is just the tip of the iceberg. We may be in for a bad ride.
On the positive side, we still have many, many talented, caring, and dedicated employees at MHS and we will continue to do our best to provide quality health care for patients and families.
Any of you oldtime employees remember “Pizza Gate”. At least when they got exposed they threw the employees a bone. As a 25+ year employee I feel really dupped. Shame on you Larry !!
The blood donor bank was not shut down to save money. The FDA FORCED it closed. The PR machine spun this in a great way, as they will with Lawrence. Schaldone: “I am both humbled and honored to move…into a position which now guarantees me a great retirement and keep my Lady Hummer….thank you”
A, I do remember “Pizza Gate!” I’ve been at Memorial 21 years, and that was a major scandal at the time. More things change, the more they stay the same. My fellow Memorial employees: We have to put a stop to this. Too many exec teams are taking advantage of us. We are the ones that run the hospital, not them. We have to stand up to them. Now.
I REALLY DO NOT UNDERSTAND WHAT THE FUSS IS ALL ABOUT.
COLORADO SPRINGS IS A WHITE CRUSTED COMMUNITY.
WHERE WERE ALL OF OF YOU PEOPLE WHEN THE EX- BIG SHOT WAS RAPING US OVER THE THE OLYMPIC SCANDAL ORDERAL, WHEN BACH STARTED FIRING HALF OF THE HR DEPARTMENT AND PAYING THEM OFF , CREATING OHTER BOGUS JOBS FOR HIS CRONNIES
WE ARE BEING RAPED EVERYDAY BY OUR CITY GOVERMENT .
AND NOW YOU WANT TO TAKE A STAND.
I SURE WOULD NOT WANT OF YOU YOU’S TO HAVE MY BACK WHEN THE TOUGH GETS GOING!!!!
BESIDES, LARRY IS ONLY ACCEPTING WHAT IS BEING OFFERD TO HIM JUST LIKE YOU ME ANYONE ELSE HERE WOULD DO.
ITS A DOGGIE DOG WORLD BUT THEN AGAN SO IS THE CITY GOVERMENT .
TOMORRW IS SUNDAY SEEK AND YOU SHALL FIND………
lILITHIA
This sort of thing has been going on for DECADES, all over the country…CEOs running companies into the ground, getting the heck outta Dodge with their golden parachutes, while employees (what remains of them, anyway) dig up the shattered pieces.
I’ll bet NONE of you gave any of this a second thought and even voted for the fools that allowed these atrocities to continue. Now that it hits a little closer to home, you cry, “Foul!”
Don’t worry, he’ll “create jobs” elsewhere with the money he saves with GOP-inspired tax breaks. (eyeroll)
garden tools…
[...]McEvoy to get Toyota Camry, help finding a new job – City Desk : Colorado Springs Gazette, CO[...]…
job|jobs|employer…
[...]McEvoy to get Toyota Camry, help finding a new job – City Desk : Colorado Springs Gazette, CO[...]…