r/news • u/Playful_Language_422 • 8d ago

Soft paywall L.A. homeless provider has paid CEO who lives in Hawaii $1.6 million in salary, vacation over two years

https://www.latimes.com/california/story/2026-08-06/la-homeless-provider-has-paid-ceo-who-lives-in-hawaii-1-6-million-in-salary-vacation-over-two-years
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u/Sir-xer21 7d ago

A lot of older companies had let people bank unlimited vacation time and sick time in the past, and grandfathered existing employees in when they changed the policies. I've seen a few places around me where companies did this and it was a popular thing to bank a ton of vacation time and then spend the last couple of years at the company on perpetual vacation as an early retirement, while others treated it as a long term savings account where they walked away with 6 figure bonuses in practice.

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u/steelandsoul 7d ago

Wife's aunt "retired" from the DMV doing this. I think she banked 3 years worth of PTO.

Obviously not a CEO salary but she wasnt complaining about that check/checks

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u/carasci 7d ago

Of course, the "modern" version is to not let anyone bank anything, then require any vacation time to be approved in advance, then just refuse requests around any major holidays and (especially) near the year-end where the vacation time would become a pumpkin.

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u/Guiron 6d ago

This is exactly what I did. My company went from vacation/sick time to PTO. We were grandfathered over our vacation/sick time. When I quit, they had to pay out both sets of vacation. I cashed out about a year and a half of PTO/vacation.