Friday, January 13, 2006

Mickey's M-O-N-E-Y

This just blows me away:

Michael Eisner, former chief executive of The Walt Disney Co., received $10.1 million in compensation last year, including a $9.1 million cash bonus...

That's pretty good for a guy who nearly ran the company into the ground and then got canned half-way through the year. But that's not all he's got coming to him!

He will also continue to receive an annual bonus of $7.5 million through 2008, in accordance with the terms of his employment agreement...

He gets a $7.5 million bonus every year for the next three years! What a deal!!!
I'll bet the shareholders are loving that. What a great use of company resources. I wonder how many poor schleps working minimum wage jobs at the Disney theme parks are going to get laid off in the next three years?

Oh, and all of this is in addition to his $300,000 annual pension.

And don't forget that Disney had to hire a new CEO during this time and they are currently paying him $9.7 million. They had just better not fire him. I doubt they could afford it.

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