The CEO Who Makes $1/year

John Brandt · #1 6/3/2006, 06:56 PM

Yahoo announced Friday that CEO Terry Semel is taking a pay cut, from $600,000 to $1 annually.

Oh, almost forgot: The firm also granted him options to buy 6 million shares. And if he does a really good job, he'll get options on 1 million more shares.

Why can't I get a pay cut like this?

John Brandt · #2 6/6/2006, 10:58 PM

Meanwhile Google has announced a new spreadsheet program, available free on the web. All in the hope, one suspects, that they can reduce Bill Gates' salary to $1/year.

Harley Ron · #3 6/27/2006, 01:44 PM

Shame on us (the emloyees, the voting citizen), that we allow the CEO's of all companies to lead us blindly down the raod to riches for them. They seem to win the lotto every year and they don,t buy any tickets.
They have eliminated the pension, see last week Wall Street journal, for the employees only to increase the pensions for the top executives. These pension cost subtract many dollars from the bottom line every year.
Our jobs in the company are to keep the kings in their Kingdoms. We use six sigma, lean, TPS, etc to make him look good.Afterall, the board of directors, must think this King is the best thing for the kingdom. Even though his actual effect on the company will not be felt, until several years down the road. When is the last time you heard the board say the King has no clothes!
As long as Wall Street brokers, fund managers and brokerage houses make money, the kingdom rolls along.
We don't make money in the kingdom, we are the fuel that keeps it going. We are around to keep them in riches so they throw us some crumbs.
Wake up. They are only looking out for their pocketbook. They have too much uinfluence over our government and our economy. We really don't know what the truth is. And we don't try to find it out.