Motorola's CEO to Get $66M Golden Parachute

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Ummm, can someone please tell me where I can sign up for deals like this? While most people are lucky to get a final paycheck when the company they work for gets bought out, guys like this are becoming millionaires. :eek:

Motorola Mobility Chief Executive Sanjay Jha could get a $65.7 million payout related to the company's deal to sell itself to Google Inc for $12.5 billion. The so-called golden parachute payment would include $13.2 million in cash and $52.4 million in equity related compensation, according to a filing with the Securities and Exchange Commission.
 

Cruiza

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Is that $65.7M essentially the NPV of his foregone compensation due to the acquisition? If so, I understand the logic behind it. To not do that for every other employee, though, seems inequitable.
 

TwistedAegis

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Clearly it's because he deserved it, earned it, and is better than you. To postulate otherwise is to be communist, socialist and all-around douchebag. ;)
 

ICOM

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Clearly it's because he deserved it, earned it, and is better than you. To postulate otherwise is to be communist, socialist and all-around douchebag. ;)
Ya know. There's quite a few feces brained fuk nuts that actually believe this.
 

kevinpet

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MMI spun off from Motorola at the beginning of 2011 at about $31/share he just sold it to Google for about $40/share. If I ever find myself writing "made the shareholders $3,500,000,000 in a year" on my resume, I would certainly expect at least a private island out of the deal.
 

piscian18

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I'm middle to upper-middle class where I live making 50k a year as an Engineer just like Sanjay was! If I manage to keep a job it will take me 20 years to make 1 million dollars. However thats before taxes so I probably make around 40K. Then minus 3600 a year on food for my family so thats now more like 34k. Then my house payment thats 12k so 22k. School, gas, necessities, home repairs, car repairs another 10k. So I put away 12k a year. Hmm calculator says it will take me 5416 years to make what he is being given. Is that right? My numbers must be wrong some where. Probably because instead of going to "University of Strathclyde" I went to "minimum wage job and apartment at 16" then spent the next 13 years working my ass off just to get where I am with my awesome student loan debts. American Dream Baby!
 

Stone Cold

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The real insulting part is that this CEO will pay less taxes on his windfall than the average working joe. For starters, zero in payroll taxes.
 

ICOM

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MMI spun off from Motorola at the beginning of 2011 at about $31/share he just sold it to Google for about $40/share. If I ever find myself writing "made the shareholders $3,500,000,000 in a year" on my resume, I would certainly expect at least a private island out of the deal.
I wonder how big an Island the CEO of Bank of America will get for firing 30,000 employees (Americans)?
 

That's_Corporate

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you do realize that being the CEO of a major company is the most stressful, demanding, and grueling job you could possibly have, right? very few people in the world can actually perform that type of work, never mind possess the intelligent to even get to that level
 

computerpro3

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MMI spun off from Motorola at the beginning of 2011 at about $31/share he just sold it to Google for about $40/share. If I ever find myself writing "made the shareholders $3,500,000,000 in a year" on my resume, I would certainly expect at least a private island out of the deal.
Logic! What's it doing here?

There's a reason all you people bitching are working shitty jobs - you don't understand business.
 

piscian18

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you do realize that being the CEO of a major company is the most stressful, demanding, and grueling job you could possibly have, right? very few people in the world can actually perform that type of work, never mind possess the intelligent to even get to that level
 

AliceCooper

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Ya know. There's quite a few feces brained fuk nuts that actually believe this.
How did he not deserve it, earn it and quite potentially be better than either of us as running a business, especially a multi million dollar coporation? Yah blah blah about how hardly any of it will be taxed. But if you can prove that he didn't deserve or earn any of that I would like to know.
 

sfsuphysics

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Eh, as long as the company isn't going bankrupt, or there's a government loan/bailout occurring let Motorola pay what they want. It's the gov't fault for having loopholes of taxation and not closing them (mostly because those who make the laws benefit the most from them).

As far as if he "earned it" subjective. It pisses me off whenever I hear arguments about giving huge bonuses because you get the best talent that way mind you, but hey blinders on full alert.
 

HOCP4ME

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Ya know. There's quite a few feces brained fuk nuts that actually believe this.
I don't know; the company chose to pay him this money. Obviously he deserved it in their opinion. Who are you to say otherwise?

Now, if you think he should pay more taxes on the money than he will, I might agree with you there. But bitching about individual CEO pay is about as useful as bitching about the salary of Congress.
 

Stone Cold

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you do realize that being the CEO of a major company is the most stressful, demanding, and grueling job you could possibly have, right? very few people in the world can actually perform that type of work, never mind possess the intelligent to even get to that level
Look, we have Obama as president, elected on criteria that had little to do with qualifications to be CEO of the world's most powerful country. Objectively, he had no previous executive experience, minimal legislative experience, and only modest experience of any kind, none of which carried much accountability. Subjectively, there are millions of Americans better qualified to be president.

Yet, America is muddling along as good as HP or Yahoo, under their multi-zillionaire CEOs.

A CEO actually has a very easy job of making some strategic decisions, while rubbing elbows with executives, while the little people do the grueling work.
 

computerpro3

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Look, we have Obama as president, elected on criteria that had little to do with qualifications to be CEO of the world's most powerful country. Objectively, he had no previous executive experience, minimal legislative experience, and only modest experience of any kind, none of which carried much accountability. Subjectively, there are millions of Americans better qualified to be president.

Yet, America is muddling along as good as HP or Yahoo, under their multi-zillionaire CEOs.

A CEO actually has a very easy job of making some strategic decisions, while rubbing elbows with executives, while the little people do the grueling work.
This kind of reasoning is a prime example of why you're not an executive.
 

exdriver

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If I ever find myself writing "made the shareholders $3,500,000,000 in a year" on my resume, I would certainly expect at least a private island out of the deal.
Or $65 million. For everything said here no one would turn that down.
 

Valshistixol

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you do realize that being the CEO of a major company is the most stressful, demanding, and grueling job you could possibly have, right? very few people in the world can actually perform that type of work, never mind possess the intelligent to even get to that level
HAHAHAHAHAHAHAHAHAHAHA
 

STrooperTK421

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This kind of reasoning is a prime example of why you're not an executive.
And I believe that your brand of "reasoning" is why this country is such a goddamn cesspool right now, where the people who...oh I don't know...ACTUALLY DO THE FUCKING WORK get screwed. They are underpaid, overworked (or loose their job because it was "outsourced" to India)...while some ball cupping "businessman" who "makes decisions" gets paid this kind of money.

Now I am not saying one doesn't need the other and vice-versa, but this disparity in pay is beyond asinine, and to me is downright criminal. One is NOT more important then the other, and the pay should reflect that.
 

Yakk

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I'm not saying he didn't get a sweet deal, but ...

If the job is so easy, how many here are CEO's of multi-billion international companies?
 

computerpro3

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And I believe that your brand of "reasoning" is why this country is such a goddamn cesspool right now, where the people who...oh I don't know...ACTUALLY DO THE FUCKING WORK get screwed. They are underpaid, overworked (or loose their job because it was "outsourced" to India)...while some ball cupping "businessman" who "makes decisions" gets paid this kind of money.

Now I am not saying one doesn't need the other and vice-versa, but this disparity in pay is beyond asinine, and to me is downright criminal. One is NOT more important then the other, and the pay should reflect that.
I would agree with you if what you're saying wasn't completely wrong.
 

umcpgrad

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Look, we have Obama as president, elected on criteria that had little to do with qualifications to be CEO of the world's most powerful country. Objectively, he had no previous executive experience, minimal legislative experience, and only modest experience of any kind, none of which carried much accountability. Subjectively, there are millions of Americans better qualified to be president.

Yet, America is muddling along as good as HP or Yahoo, under their multi-zillionaire CEOs.

A CEO actually has a very easy job of making some strategic decisions, while rubbing elbows with executives, while the little people do the grueling work.
Bush was better
 

TwistedAegis

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Relevant: http://www.economist.com/blogs/dailychart/2011/09/us-household-income

And yeah...3.5 years ago I implemented changes that saved the company I was with $2.2M - $2.5M per month...that's $30 mil per year, or $100M in the past few years. The year ending 6 months after the reporting already showed the effect, I was rated a 3/5 - meets all expectations, and a whopping 1.3% raise! :D

I'm doing much better at another company now...
 

Uncle

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you do realize that being the CEO of a major company is the most stressful, demanding, and grueling job you could possibly have, right? very few people in the world can actually perform that type of work, never mind possess the intelligent to even get to that level
And to answer that,a study came out that 60% of all CEO's are psychopaths.
 

NickJames

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you do realize that being the CEO of a major company is the most stressful, demanding, and grueling job you could possibly have, right? very few people in the world can actually perform that type of work, never mind possess the intelligent to even get to that level
From what I have learned is the less you work, the more you make. And it only took me 6 months of employment to figure that one out. Granted this doesn't apply everywhere but it most certainly applies everywhere else, Government, Corporations, Industry, etc..
 

STrooperTK421

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Relevant: http://www.economist.com/blogs/dailychart/2011/09/us-household-income

And yeah...3.5 years ago I implemented changes that saved the company I was with $2.2M - $2.5M per month...that's $30 mil per year, or $100M in the past few years. The year ending 6 months after the reporting already showed the effect, I was rated a 3/5 - meets all expectations, and a whopping 1.3% raise! :D

I'm doing much better at another company now...
Yeah, and I wonder what kind of bonuses the execs got from that? That made my blood boil and I'm not even the one that happened to.
 

shizzdizzle

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Another liberal anti-capitalist post on hardocp, what a surprise. At least their attempt at far-left propaganda is linked to a tech company, although the story still has no real relevancy on this site. Is it too much to ask for a tech website that stays away from forming a political agenda and just gives me tech news? Apparently it is.
 

TwistedAegis

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Another liberal anti-capitalist post on hardocp, what a surprise. At least their attempt at far-left propaganda is linked to a tech company, although the story still has no real relevancy on this site. Is it too much to ask for a tech website that stays away from forming a political agenda and just gives me tech news? Apparently it is.
Sir, might I suggest your view of "capitalism" is a bit too narrow.
 

piscian18

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Another liberal anti-capitalist post on hardocp, what a surprise. At least their attempt at far-left propaganda is linked to a tech company, although the story still has no real relevancy on this site. Is it too much to ask for a tech website that stays away from forming a political agenda and just gives me tech news? Apparently it is.
So posting a news story and then letting people comment is Liberal propaganda? I mean really. Where in the article or Steve's post are you catching some political bias?
 
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