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No he is not president for life as such. But his contract states that after he is retired he is to be kept on as a “consultant” for life at almost the same pay he receives now.

Oh, and his clothing allowance is $250,000 a year.

WLP is Executive VICE President. Ollie was President.

I like Ollie but I extended for five years within a week after Ollie “quit”.

I don’t think people realize what it takes to run an organization like that these days. The expenses that have come out seem very mundane compared to executive salaries and expense accounts in larger corporations.

A lot of normal, middle class people just cannot fathom what it takes to do what these people do.

Some years ago, I was in the entourage of a CEO of a well known company in the automobile industry. As a head of corporate communications/investor relations, we budgeted millions in travel, events, clothes for the exec, etc. We were not unique.

He would go make a speech at a local industry conference and we would have two rented vehicles with drivers, and 6-8 people assisting. Presentation designer, equipment guy, admin person or two, technical subject experts, press liaison, and me - the communication boss.

All in salary and expenses for the day could be $30K-$50k. That would be a drop in the bucket compared to doing an exhibit at the Tokyo Motor Show, or Frankfort Motor Show, or sponsoring an event like The Grand Prix of Detroit, etc.

(All of which I did.)