***
Drastic salary cuts are not limited to the 99% of us scraping by as the 1% reaps money like farmers reap wheat. Case in point – Phillippe Dauman, CEO of Viacom, was ripped with a 50% pay cut by the Viacom board. Yes – a 50% cut despite his close ties with Board Chairman Sumner Redstone. Don’t start weeping quite yet, though. That 50% cut left Dauman with a $43,000,000 annual income for his work with Viacom. That mere $43M comprises $3.5M in base salary, $20M cash bonus, and $19.3M in a stock & options grant. Oh, and he also got $232,000 worth of fly time in the Viacom’s personal jet.
If you care what Viacom has to say about all this, check out the article on MSN Money:
***
No comments:
Post a Comment