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Once you get into the CEOs club, it's plain sailing. What I find hilarious is the turn of phrase on Yahoo's own version of this article. "Carol Bartz received
by heresy 16y ago
Once you get into the CEOs club, it's plain sailing.
What I find hilarious is the turn of phrase on Yahoo's own version of this article.
"Carol Bartz received a $47.2 million compensation package during her first year on the job as the Internet company tried to motivate her to engineer a turnaround."
Isn't doing a good job motivation enough (in addition to already substantial compensation at that level)?
Secondly,
"Bartz generally impressed analysts by closing Yahoo's unprofitable services, laying off workers and saving even more money by striking an Internet search partnership with Microsoft Corp."
Wow, that required real creativity and lateral thinking. That kind of execution sure will help bring Yahoo up out of the morass. Where's the forward thinking?
Reading about the stereotypical American CEO, it seems to be all about layoffs and making the short-term bottom-line look good before bailing as the emperor is revealed to have no clothes due to lack of R&D or any thinking past milking of current cash cows.
At some point there's nothing left to cut from the hollow shell.
- plinkplonk 16y ago"At some point there's nothing left to cut from the hollow shell." at which point the CEO sells the company and rides off into the sunset with all the millions from his stock options, or , worst case is let go with a multi million dollar parachute. e.g: Fiorina got 21 million $ when she was fired from HP, after essentially gutting it. [1] With a bit of luck she'll be Senator and then she can apply her skills to governance! [1] To compare, at 50,000 $/startup, one million dollars invested YC style would seed 20 startups. (EDIT: corrected calculation, Thanks niyazpk/barrkel. That should teach me not to write quick comments while build/tests run)
- barrkel 16y ago20K * 50K = 1B
- deleted 16y ago[deleted]
- niyazpk 16y agohttp://en.wikipedia.org/wiki/Million http://en.wikipedia.org/wiki/Million
- niyazpk 16y agoOr to make it more dramatic, at 10,000 $/startup, one million dollars invested YC style would seed 100 startups. Also IIRC YC tends to invest amounts that are nearer to 10K than 50K per startup.
- sundae79 16y agoOk, Yahoo laid of 600 people last year and she gets 47 Million. How did that save money? I am not making fun. Serious question.
- rokhayakebe 16y agoBoth the $47M and the 600 people salaries were part of their budget. So she gets to save the 600 salaries. Plus whatever resources poured into projects those fired were working on.