Marissa Mayer's $23-million severance from Yahoo may look obscene. But it's even worse.

On the surface, if there’s something positive to be said for the $23-million golden parachute due to Yahoo CEO Marissa Mayer as the company gets sold to Verizon, it’s that the payoff isn’t $55 million, the sum that was disclosed in a corporate filing last July, or even $44 million, the sum estimated...

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