Sprint CEO Pay Skyrockets From $11M To $49M

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I thought Sprint was sucking ass compared to the competition? Then why the massive pay raise for the company's CEO?

CEO Dan Hesse had probably his busiest year at the helm of the carrier since he came on board in late 2007, and the company handsomely rewarded him for his efforts. Hesse scored a total compensation package of $49 million in 2013, according to a filing with the Securities and Exchange Commission. That figure is far above Hesse's 2012 compensation and made him easily the highest-paid executive in the wireless industry last year.
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Guys, this is necessary, as it won't be possible to find qualified people willing to roll out of bed in the morning for anything less than $40 million.

... countdown to class-warfare revolution in 3.. 2..
 
A 0.08% return on assets and -18.5% return on equity! Whew, that's some pretty epic performance there.

Or maybe it's the -8.5% profit margin? Truly he is a god amongst men and deserves a 450% raise over what already put him in the .01%.
 
I thought Sprint was sucking ass compared to the competition? Then why the massive pay raise for the company's CEO?
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But they need to pay this kind of money to get quality people blah blah blah blah blah
 
>Company is tanking
>CEO gets a near 5x pay increase

Corporate america is fucking hilarious, I dunno how it functions man

I await the fucking flood of sprint employee layoffs to pay for this clowns pay increase, when said money could have been used to keep the company afloat
 
If he negotiated that kind of raise while AT THE SAME TIME having his company tanking and shareholders are happy...

He must be a serious contender for salesman of the century.

He can sell anything, well..... except for what his company sells I guess.
 
Merged the company with Clearwire and Softbank. Shareholders made money, who cares if the company itself suffered.
 
<tinfoilhat>
all of the CEOs in the United States are trying to amass as much money as they can because of an internal memo by Wall Street and SEC saying that they need to get out of the country in a few more years because the US is on the brink of becoming Somalia 2.0.
</tinfoilhat>
 
Executive pay is way out of control these days. I don't care if you're a god among executives, you're not worth that much.

To put this in perspective, if you pay him 18 hours a day (no paid sleeping) for 365 days a year, he's making $7560 an hour or $2.10 a second.
 
Compensation award for having the worst mobile network in the US. Dumped Sprint a few years ago so I don't care anymore how they waste their money towards becoming BK.
 
Sounds just like the wall street bonuses...rewarding failure at the highest level. Same ole shit.
 
Azhar said:
<tinfoilhat>
all of the CEOs in the United States are trying to amass as much money as they can because of an internal memo by Wall Street and SEC saying that they need to get out of the country in a few more years because the US is on the brink of becoming Somalia 2.0.
</tinfoilhat>
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<tinfoilhat>
More like the US is on the brink of having a French style revolution, and some fat cats will be hanging high off their skyscrapers of opulence
</tinfoilhat>
 
If CEO pay raises were approved by the share holders and not a board of directors I think we'd see a much different outcome and people who are busting their ass for a raise.
 
Enacting his golden parachute before either:

A. He bails.
B. Sprint fails.
 
Where are the [H]ard freemarketeers? Tell us how people earn their millions of dollars per year, and that if this guy wasn't worth the money he wouldn't get it. Then go on to tell us how little that $30 million would mean to the workers or the company in general anyway, so why not flush it down this toilet of a human being with a title and a nice suit?
 
Babbster said:
Where are the [H]ard freemarketeers? Tell us how people earn their millions of dollars per year, and that if this guy wasn't worth the money he wouldn't get it. Then go on to tell us how little that $30 million would mean to the workers or the company in general anyway, so why not flush it down this toilet of a human being with a title and a nice suit?
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Well, in all fairness, unless we are Sprint stockholders it is none of our business how much the CEO is paid ... Giving that money to all employees makes even less sense as that would be about $35/month for each one and would reward the poor performers with the good ones ... I could support giving the money to the top 5-10% though (although that also is none of our business) ;)
 
sfsuphysics said:
<tinfoilhat>
More like the US is on the brink of having a French style revolution, and some fat cats will be hanging high off their skyscrapers of opulence
</tinfoilhat>
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that will never happen. The tea party shows that people are dumb and would believe anything the rich and religion tells them.
 
TwistedAegis said:
A 0.08% return on assets and -18.5% return on equity! Whew, that's some pretty epic performance there.

Or maybe it's the -8.5% profit margin? Truly he is a god amongst men and deserves a 450% raise over what already put him in the .01%.
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Look, with numbers like that, the stock options are worth crap. You need to actually write the guy a check, and it has to be big or you might only find someone who wouldn't do even that well.

Note the sarcasm. Personally I'm mystified that you don't get shareholder lawsuits for employing people with a proven track record of running shit into the ground. If you can't afford the ones with a track record of making bucketfuls of money, how about you at least try someone with NO track record rather than a negative one.
 
Has Sprint received a federal bailout? If not, Sprint can pay Hesse whatever they want. Additionally, is the pay boost straight cash or stock options? I got wind (unsubstantiated) that it was mostly stock.
 
kbrickley said:
Well, in all fairness, unless we are Sprint stockholders it is none of our business how much the CEO is paid ... Giving that money to all employees makes even less sense as that would be about $35/month for each one and would reward the poor performers with the good ones ... I could support giving the money to the top 5-10% though (although that also is none of our business) ;)
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It is our business though. The founding fathers understood that accumulated wealth and power can have an adverse effect on governance. When certain people have so much insane amount of wealth, it skews their viewpoint on things and completely removes them from regular society. It then gives them the means to influence government much more along those lines.
 
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