Groseclose’s Golden Parachute

After getting paid millions of dollars to run South Carolina’s most competitive economic development asset completely into the ground over the last decade, former S.C. Ports Authority president Bernard Groseclose will receive a $132,000 golden parachute.

Groseclose resigned on Wednesday from the agency he “led” for twelve years, leaving the Port of Charleston in its worst competitive shape ever.

From the lovely and talented Allyson Bird:

Groseclose, who earned $264,000 a year, volunteered his resignation during a semi-annual evaluation at Tuesday’s board meeting.

Joel Sawyer, spokesman for Gov. Mark Sanford, said the SPA board discussed tacking even more onto the separation pay spelled out in the six-page employment agreement. That, he said, “would be a mistake.”

“The port board had considered offering Mr. Groseclose a few things they are not contractually obligated to offer,” Sawyer said. “We think that sends a bad message when state employees are being laid off.”

If we were negotiating Groseclose’s severance package, he’d be fortunate to leave the room without one of our boots lodged in his ass.

Similarly, we would have done it like a decade ago.

As for Groseclose’s replacement, apparently the selection of commie Bill Stern to lead the search did not go over well in certain circles of power in Columbia.

Expect SPA Board Chairman David J. Posek will be on a short leash the rest of the way … and don’t expect Stern to exercise as much power over the search as his appointment would suggest.

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