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CEO Salaries and Layoffs

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CEO Salaries and Layoffs

Hello.

Could not help but notice that the Sunday NEW YORK TIMES reported Robert Iger was paid 51 million last year as CEO of the Walt Disney Company (3rd highest among CEO's).

Disney just had a slew of job layoffs in Orlando. Just think how many jobs could have been saved. Animation/ comics historian, Jim Korkis who has worked there since 1992 or 93 was let go. Jim used his history/ acting skills to make thousands of folks happy...the magic should flow both ways...and include those who make a difference for the company.

Thanks.

Larry L.'s picture
Larry web site http://tooninst[URL=http://tooninstitute.awn.com]itute.awn.com [/URL]blog: [U]http://www.awm.com/blogs/always-animated [/U] email: larry.lauria@gmail.com

Are you surprised? Right now in Germany, too, fired execs threaten with lawsuits over compensation payments. Their successors basically pay themselves millions in gratuities for future financial efforts which in the light of the state of their companies are completely fatuous. Their thinking takes place in dimensions far removed and almost perversely abstract from what normal earners perceive as tangible or moral. In their terms, most of us are less than one tenth of a percent in that thing called 'human capital' that produces a commodity called art. Hopefully the current crisis will bring about a shift in the perception of their efforts and ways.

Disney just had a slew of job layoffs in Orlando. Just think how many jobs could have been saved.

A lot of times, these guys get those big paychecks BECAUSE they lay off so many people, saving the company money on the bottom line. It's ridiculous.

A lot of times, these guys get those big paychecks BECAUSE they lay off so many people, saving the company money on the bottom line. It's ridiculous.

Yeah, it's not because he's CEO of a multi-billion, international, multi-media entertainment empire or anything. :D

I agree that these CEO's make stupid money, but do you really want someone making $100k a year running a huge company? And don't forget about all of the middle management positions that they cut in the last couple of years. By the way, what areas were laid off from Orlando?

Aloha,
the Ape

...we must all face a choice, between what is right... and what is easy."

I don't have a problem with CEO's earning these large paydays.
Personal prosperity is one of the hallmarks of our way of life, and one of the great promises of society.
I DO have a problem when CEO's and execs get paid huge salaries and bonuses after asking for government funds to bail out the companies they work for.
Once "our money" starts feeding into their paycheques, then they and their performance become accountable to us.

"We all grow older, we do not have to grow up"--Archie Goodwin ( 1937-1998)

I DO have a problem when CEO's and execs get paid huge salaries and bonuses after asking for government funds to bail out the companies they work for.

Well, even when their economical conduct doesn't become noteworthy in times of crisis, it's not like the companies they run do so on funds completely separate from the financial system, right? Call me a commie or a conspiracy nut, but what we're experiencing these days in my eyes is a result of their financial excesses which over years of misuse have grown into this fine mess.

>> has worked there since 1992 or 93

Ah yes, let's see 16 or 17 years worth of benefits, salary increases, vacation time, 401K matching ... just watch them hire a new flock in 2 or 3 years.

The new business model - top management and entry level.

i think CEO compensation should be linked to performance (atleast half the salary should) with a base pay.

to be honest i dont begrudge someone who is at the top of a firm like that because they work fairly hard for fairly long to get there. A lot fo them also have a great deal to offer and are a great part of growth stories.

but of late things have gone ape and controls need to be put in.

firing people is sad, its desperate but sometimes its the only way to survive.

By the way, what areas were laid off from Orlando?

Mostly theme park positions. Jim was "backstage" at Epcot, and got caught in the layoff. He is a supremely talented individual, and my understanding is that he was underutilized, given his skills and knowledge. Not surprising for a company that has managers who are thoroughly unqualified for and insufficiently trained to do their jobs correctly, or even well.

I agree Ken about the bail outs.

I see DSB. Isn't Lassetter in charge of the Theme Parks? It sucks when talented people are layed off.

Mahalo,
the Ape

...we must all face a choice, between what is right... and what is easy."

I see DSB. Isn't Lassetter in charge of the Theme Parks? It sucks when talented people are layed off.

I'm sure he's in charge of the big picture stuff, like what new attractions will be developed. I doubt he has much of a hand in the day-to-day operational stuff. And I agree - it sucks when they lose talented folks.

Yeah, it's not because he's CEO of a multi-billion, international, multi-media entertainment empire or anything. :D

The $53 million isn't a salary. They get that in bonuses and stock options. The bonsuses and stock options are based on increasing the value of stock or the bottom line. When your revenue is stagnant or down, part of the way you do that is layoffs. In short, these guys are often rewarded for layoffs.

outrageous...as usual.
While CEOs deserve better than low 6 figures, 8 figures is outrageous.
Executives need to get paid less, pay workers a little more and trim corporate fat in terms of executives in creative corporations that often impede the process. Of course creatives (or "the worker") are often made the scapegoat.

Don't get me started on bailouts. A corporation is an individual under the law and should not have preferential treatment no different than a personal bankruptcy.