Filed in archive
strategy
by leon on December 5, 2008
Chastened by the public uproar, the chief executives of the Big Three automakers have pledged to earn $1 A year in salary to keep their companies in business. It's a good symbol designed to generate maximum publicity, but it's just that. In real life, it's not that big a sacrifice.
As Alexandra Higgins from Corporate Library told Public Radio, the only thing it does is change a guaranteed payment. They still get lots of money from perks, bonuses, restricted stocks and stock options. And as this report points out, many executives like Apple's Steve Jobs, Google's Eric Schmidt, outgoing Yahoo chief Jerry Yang, Dreamworks animation chief Jeffrey Katzenberg, Kinder Morgan Energy Partners CEO Richard Kinder and Gap CEO Glenn Murphy are all part of the $1 club. And they have been cleaning up through stock options and stocks.
Permalink: Behind the $1 salary
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/139062
Addthis
Ask
Blinklist
del.icio.us
Digg
Fark
Facebook
Google
Lycos
Ma.gnolia
Mr Wong
Netscape
Netvousz
Newsvine
Reddit
StumbleUpon
Slashdot
Tailrank
Technorati
Wink
Yahoo
Vote for Behind the $1 salary:
|
Rating: 8.33 out of 3 vote(s) cast.
|
Subscribe
Use the search to look for other interesting posts
| RSS |  See all blog subscribe options |
 What is RSS? | |
| Yahoo! |
|
| Addthis |
|
| Bloglines |
|
| Newsletter | |
| Follow us on Twitter! |
