Motorola's CEO to Get $66M Golden Parachute

Keep in mind the CEO got paid no where near the 60 or so million for completing the deal with Google each year, this was a one time payout for a HUGE deal to sell the company.

Also, if it weren't for the CEO of your company you wouldn't the opportunity to save money or create jobs for the business because you wouldn't have a job with them...
 
TwistedAegis said:
And here I thought that my recent business proposals to save my company money, that opened up 2 new positions, was my idea - guess it was the CEO's all along.
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It was obviously his idea. He planted it, made you think it was your own. Now you're stuck in limbo.
 
shizzdizzle said:
Keep in mind the CEO got paid no where near the 60 or so million for completing the deal with Google each year, this was a one time payout for a HUGE deal to sell the company.

Also, if it weren't for the CEO of your company you wouldn't the opportunity to save money or create jobs for the business because you wouldn't have a job with them...
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Actually, the CEO of this company used to be an annual rotating position. And being that I wasn't hired by the CEO either, I'm not sure what direct relevance he has to my position. Reading your posts, I somehow get the feeling that if the CEO leaves the company it immediately ceases to exist or produce anything of value. Far from it.
 
TwistedAegis said:
Actually, the CEO of this company used to be an annual rotating position. And being that I wasn't hired by the CEO either, I'm not sure what direct relevance he has to my position. Reading your posts, I somehow get the feeling that if the CEO leaves the company it immediately ceases to exist or produce anything of value. Far from it.
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I never said they were irreplaceable, but they are extremely hard to replace. You still have a job, the business still exists. Sounds like that CEO is doing his job.
 
Monkey God said:
I can find plenty of extreme lefties too if I wanted.

Also, I only know a few tea party people and they are mainly about smaller government, more accountability, action against illegal immigration. hardly extremist, but that doesn't make good news, does it?

BTW, 90% of what Bush did that people hated, Obama has done the same thing. More biailouts. Never ending wars. More patriot act/TSA-grabassery. Meet the new boss, same as the old boss. Tea Party got started because there is no real difference between Republicans and Democrats.
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Wow... What do I say to all that?

First of all, calling out the other side for being just as extreme doesn't really diminish anything I said.

The people in the Tea Party are about all those things yet decide to protest only when a black Democrat is elected. They think that Taxes and illegal immigration are serious problems against which to protest??? Taxes are the lowest since the 1950's across the board, and all Obama has done is lower them. None of what they are protesting against has actually been a problem!!:rolleyes:

I haven't seen a single comment from a "Tea Party" member protesting the Patriot Act or either war. They're a sham. All of them. Idiots. No other words can describe.
 
shizzdizzle said:
Random example:
Motorola CEO gets google to bump their offer from $35 to $40 per share. He made the shareholders a couple billion dollars extra in total. When is the last time a middle class person at a mid level job increased the value of a business by a couple billion dollars?
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Man that's some tough fucking work right there. "No, we won't sell for $35/share, we'll only sell for $40/share... now where's my $66,000,000 payoff?" Holy shit, we need to give him his own country to run too. What a fucking Genius!!!

You Tools really do gobble that shit up don't you? Its like these ideas are surgically implanted into your mushy brains straight from the morons on CNBC and Fox News. I am reading a mixture of horseshit ranging from "If you build up a business you are entitled to a reward" to "he earned it".

Problem is: This guy was there for 3 years and brought the stock price up... to the same amount when he was hired. Its a corrupt system of no risk and all reward.

And of course there are the morons who are saying there are liberal trolls in here. Typical. I believe a member posted a reference to J.P. Morgan earlier, and how you smart guys would consider him to be a socialist for believing in limited executive pay.

If J.P. Morgan was a socialist, then what does that make you, smart guys?
 
I'm surprised this thread went almost a full page without a troll. Good thing Dethred came along, the rest of us actually started a good discussion. He sure put a stop to that...
 
If the person or people that made the company worth more to google should recieve the 66M, then it should be split between the apple patent lawyers and the guys that produced the patents that google wanted. I don't think this CEO actually increased the value of the company as much as he was just in the right place at the right time. Still good for him.
 
shizzdizzle said:
I never said they were irreplaceable, but they are extremely hard to replace. You still have a job, the business still exists. Sounds like that CEO is doing his job.
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So since you appear to believe all things flow solely from the CEO; the UBS link I just posted, where an individual trader lost $2B for the company. Should the CEO be fired, and if yes, should the golden parachute in his contract still be valid?
 
shizzdizzle said:
I never said they were irreplaceable, but they are extremely hard to replace. You still have a job, the business still exists. Sounds like that CEO is doing his job.
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sorry to but your bubble but CEO's are not demi-gods solely responsible for a company's success, and to be fair nor are they solely responsible for the failures. Yes they are the captain of the ship and deserve to be compensated by such but some of these compensation packages are getting ridiculous. There is something very wrong with the system when these top execs get to write each other fat pay checks while nearly everyone else is getting pay cuts, laid off, or working like a dog just to keep their middle class salary.
 
There you are. Respect their authority or they will chop you into little bits. And eat you. With golden forks and salad made of money.
 
shizzdizzle said:
I'm surprised this thread went almost a full page without a troll. Good thing Dethred came along, the rest of us actually started a good discussion. He sure put a stop to that...
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Pretty sure trolling is when you go into a thread, which is obviously aimed at showing an excess and ridiculous occurrence, and shit on it. By making a bunch of nonsensical supportive statements about the CEO, who has 3 years on the job and no real performance by which to justify his payment, you happen to be the troll.
 
eon said:
sorry to but your bubble but CEO's are not demi-gods solely responsible for a company's success, and to be fair nor are they solely responsible for the failures. Yes they are the captain of the ship and deserve to be compensated by such but some of these compensation packages are getting ridiculous. There is something very wrong with the system when these top execs get to write each other fat pay checks while nearly everyone else is getting pay cuts, laid off, or working like a dog just to keep their middle class salary.
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You've made too much sense for him to understand. Anyone that thinks that its appropriate to pay $66M in exchange for mediocre results is insane.
 
eon said:
sorry to but your bubble but CEO's are not demi-gods solely responsible for a company's success, and to be fair nor are they solely responsible for the failures. Yes they are the captain of the ship and deserve to be compensated by such but some of these compensation packages are getting ridiculous. There is something very wrong with the system when these top execs get to write each other fat pay checks while nearly everyone else is getting pay cuts, laid off, or working like a dog just to keep their middle class salary.
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I work closely with CEO's of a couple different companies. There's whole lot of coin flipping. CEO never come up with ideas or strategies on their own. There's a Sales and an R&D group that do 90% of the backend work but most of them rarely see a penny. once a product or strategy seems feasible to boost stock value or stop losses(current market) most CEO's end up flipping a coin and saying go. Sometimes they end up like Steve Jobs and sometimes it's guys like Mike Hurt. Oddly they always get rewarded pass or fail :/.
 
The CEO where I work spend his day on Facebook. He just turns around to ask people if the ideas they came up with are ripe and ready for him to capitalize on.

I'm sure it's a nice position to be in. Don't do shit, get all the merit, pay chump change to the ones that made it possible.
 
piscian18 said:
I'm middle to upper-middle class where I live making 50k a year as an Engineer just like Sanjay was!
...

BWAHAHAHAHAA
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That's_Corporate said:
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
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Dunno. Just had a night in a bar with a relative who is in the Marines and spent the last 9 months in Afghanistan. If you know any CEO's that wear bracelets for coworkers that have bled out while trying to be saved, let me know.

It generally it is a mix of intelligence, skill in manipulation, and sociopathic tendencies that make a "good" ceo.
 
Ha, corporate CEO is the most demanding position? Compared to trauma surgeon, pediatric heart care, delivering underweight babies, prying victims from auto wrecks, etc.? Beat cop in gang-controlled neighborhoods? Or military medical care in a combat area/amputee and PTSD rehab, to ramp it up.

Anyway, this needs to be staggered, to see if massive damage was done. Too many "titans" locked in packages in 2006 or 2007 based on fraud and deceit.* It's true they were legally entitled to be rewarded handsomely in 2008 or 2009 if it is contractual, but WRONG and distorted. If Moto doesn't suffer, then it can continue.

Lock it in now, it can't increase. 10% now, 20% next year and in two years, 30% in three years, and then the 20% remainder in 2015.

But if there is a massive tanking from negligence or obfuscation, this package also burns.

* Separate from retirement benefits and corporate perks, short sales, cashing in before crashes, borrowing at 2% interest and paying zero taxes, etc.
 
Considering a majority of the posters on this forum shit a brick when trying to make tough decisions on where to go for lunch, I don't think most of you are in a position to postulate the work load and relative difficulty level of a successful CEO for a Fortune 500 company.
 
SilverSliver said:
Considering a majority of the posters on this forum shit a brick when trying to make tough decisions on where to go for lunch, I don't think most of you are in a position to postulate the work load and relative difficulty level of a successful CEO for a Fortune 500 company.
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CEO's know what they're having for lunch. Pensions.
 
SilverSliver said:
Considering a majority of the posters on this forum shit a brick when trying to make tough decisions on where to go for lunch, I don't think most of you are in a position to postulate the work load and relative difficulty level of a successful CEO for a Fortune 500 company.
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So if someone can't stand the sight of blood or they hate needles, they don't know that being a spinal surgeon is tremendously difficult?

smh
 
Great blog post today from a very conservative (in the traditional sense) economist:

http://www.economist.com/blogs/buttonwood/2011/09/corporate-sector-and-economy

ONE of the striking divergences in the US economy is how well the corporate sector has performed relative to the consumer. This is one reason why the stockmarket was doing so well (until this summer) and why valuations based on recent earnings make the market look a lot cheaper than those based on the Shiller p/e.

Andrew Smithers has drawn attention to this in his latest report. He is a feisty economist best known for his work on the Q ratio (referred to in the above link) and happy to take on most strategists at investment banks, who he regards as mere salesmen for equities. He notes that

US profit margins have risen sharply despite the weakness of the economy. It should be noted that this is an unusual response to cyclical weakness in the economy and cannot therefore be explained away by assuming that it is caused by secular changes, such as a change in the bargaining power of labour. In addition, it should be noted that if such claims had any validity, any downward pressure on wages per person would be accompanied by a tendency to substitute labour for capital in terms of numbers employed. It has been widely remarked that the opposite has been the case, with unemployment rising particularly sharply during this period of economic weakness.
The explanation, in Smithers' view, lies in the role played by incentives in manager remuneration.

There has been a marked increase in the proportion of total pay coming from bonuses or options rather than salaries. This has led to companies' managements being primarily concerned with short-term changes in share price, earnings per share or return on equity.
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SilverSliver said:
Considering a majority of the posters on this forum shit a brick when trying to make tough decisions on where to go for lunch, I don't think most of you are in a position to postulate the work load and relative difficulty level of a successful CEO for a Fortune 500 company.
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But you can speculate about the skills (or lack of) of the members of this forum, right?

Which Fortune 500 company are you heading?
 
Envy. One of the cardinal seven deadly sins. Do people need $66M to survive? No. They also don't need to work years in the pursuit of it.

This man had a Ph.D in electrical engineering and worked on some of the first mobile chips. He was paid for knowledge and skills few others possessed. When I see people complain about how much executives are making I shake my head. No one is paying you this because you lack the knowledge and experience these people possess. If you are jealous - work for it.

Some people are motivated by power, others by money and others just to survive. If this guy is motivated by the ability to sleep on a bed full of $1,000 bills or hire midgets for his midget cannon - good for him. It is called "freedom."
 
sleepeeg3 said:
Envy. One of the cardinal seven deadly sins. Do people need $66M to survive? No. They also don't need to work years in the pursuit of it.

This man had a Ph.D in electrical engineering and worked on some of the first mobile chips. He was paid for knowledge and skills few others possessed. When I see people complain about how much executives are making I shake my head. No one is paying you this because you lack the knowledge and experience these people possess. If you are jealous - work for it.

Some people are motivated by power, others by money and others just to survive. If this guy is motivated by the ability to sleep on a bed full of $1,000 bills or hire midgets for his midget cannon - good for him. It is called "freedom."
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True. What were the other sins again? ;)
 
Am I envious? If I'm honest with myself, of course I am. I'd love to have $66 million or even much less millions. But am I speaking out about excessive pay due to this envy? Absolutely not. I think it is a sign of a broken system and is toxic to a healthy society.

But if chalking it all up to being an envious rube makes it easier for you to write it all off, knock yourself out.
 
sleepeeg3 said:
Envy. One of the cardinal seven deadly sins. Do people need $66M to survive? No. They also don't need to work years in the pursuit of it.

This man had a Ph.D in electrical engineering and worked on some of the first mobile chips. He was paid for knowledge and skills few others possessed. When I see people complain about how much executives are making I shake my head. No one is paying you this because you lack the knowledge and experience these people possess. If you are jealous - work for it.

Some people are motivated by power, others by money and others just to survive. If this guy is motivated by the ability to sleep on a bed full of $1,000 bills or hire midgets for his midget cannon - good for him. It is called "freedom."
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These giant windfalls should go back to the employees, vendors, and shareholders. Or set up a scholarship to train new engineers, etc. The Japanese don't go nuts with exec. comp and their economy is tremendous, if they had America's natural resources and had been the undamaged paragon of growth and manufacturing from 1945-1975 they'd be the top dog. They definitely don't have 15% under a low poverty threshold.

Go ahead and give him a personal chef (Kobe beef with lobster every night, etc.) for the next 40 years, two mansions and an Italian villa, 5 cars and 5 classic cars, free tuition w/ room and board for five generations of offspring, etc. and it's still worth less than $15 million.
 
singe_101 said:
Go ahead and give him a personal chef (Kobe beef with lobster every night, etc.) for the next 40 years, two mansions and an Italian villa, 5 cars and 5 classic cars, free tuition w/ room and board for five generations of offspring, etc. and it's still worth less than $15 million.
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Um, no. Mansions in parts of the country where people actually want to live (New England, California, Florida, etc) cost 15+ mill all by themselves, easy.
 
Just examples. And if he has millions coming in, he can borrow millions more with low interest, it might take a golf game or cocktail party but it's not that hard.

It's too much, disproportionate from the impact for the company.How many hundreds of his best engineers are paid with one week of his compensation? Huge packages and increases proposed should be up to the shareholders for approval, and they usually, wisely vote no.

A $15 million mansion is just reinforcing my point. It's not just about opulence and luxury, it's the status symbols and gluttony to make someone in a $2 million mansion from their construction business look like a chump. But how many bedrooms and tennis courts can he use? He needs the piece of mind from the third bathroom and Kuro in the guest house?

Put it back in the company or a dividend.

More Great Man theory run amok.
 
Hamish Campbell said:
You're crazy if you think this site has a liberal bias. It's infested with conservatives, and that includes the news posts. Nothing about this post was liberal or anti-capitalist. You obviously don't know what those words even mean.
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Spot on. Shizzdizzle is totally out of the loop and clearly doesn't look at news here a lot. Steve is NOT liberal, he is actually a hardcore Republican, and proud of it... from what I've seen. He even drives a Hummer SUV. lol

Spot on post though Hamish... 100% correct.
 
I hate to use this old ass analogy, but........

A CEO, is like a quarterback, he is an important part of the team, but he does not actually win any games on his own for you. Again, like a quarterback, a CEO tends to get paid more than the rest of the team.
Without agreeing with it, I really have no choice but to accept, that it is merely the way the majority of people assign value to various job positions.

Kudos to him though, he managed lie, cheat, steal, back stab, and manipulate himself into a position where regardless of his team's success or failure, he still wins the cash award. Bravo, bravo.
 
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