CEO Bob Iger gets a 35% pay raise??? I'm sure he has worked hard to get to where he is...but 35%/ COME ON! No wonder the prices keep going up at Disney...WWWT (What Would Walt Think).
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35% pay raise for iger
- Thread starter keylimesqueeze
- Start date
powlessfamily4
Well-Known Member
Wow.. that would be shweeeetttt. :ROFLOL: Wishin I was him today.
Well who knows what was in his contract when he signed. It may be built in based off profit percentages or market numbers.
thewhitequeen
New Member
I don't think he deserves it. Since he took over, the Disney parks have taken a dive. Eisner was a jackwagon, but at least he knew how to run the corporation. Disney parks needs a replacement.
thewhitequeen
New Member
Correct me if I'm wrong, but aren't some of the lower paid employees picketing for more pay and didn't they just have a lay off?
loveofamouse
Well-Known Member
It's the same across all of the major corporations. The guys on top line their pockets while the little guys are lucky to keep their jobs. Being military, we're lucky if we get a 1% raise
Phonedave
Well-Known Member
Some specifics;
Disney chief Bob Iger was paid $29.6 million in 2010, or about 25 percent more than the year before, the company disclosed in a regulatory filing.
In the filing, the company's board of directors lauded Iger's "exceptional performance" in a tough economy.
Iger’s pay raise was a reward for the strong performance of Disney’s stock, which ended the 2010 fiscal year up 24 percent, or $32.98 per share.
Iger's base salary was $2 million, but as the Associated Press points out, his performance-related bonus jumped 45 percent to $13.5 million (up from $9.3 million) and stock options valued at $11.8 million (up from $9.5 million).
And Iger’s “other compensation rose nearly 8 percent to $798,433, including personal use of company aircraft and security costs.”
Disney’s net income during its 2010 fiscal year increased 20 percent (to $3.96 billion) under Iger’s watch, and revenue grew more than 5 percent to $38.06 billion.
Ok, so Disney had some stellar results. (Remember Disney is more -much more - than the parks).
I am the first in line to defend executive level pay, and Iger has delivered the goods. However in this case, even I have to say this is excessive to me. I am waiting to see what my performance based incentive is for 2010. Roumor has it, that it is up this year as well, not quite up %45 but still up.
Of course I don't know exactly what Iger has in his performance contract.
-dave
Disney chief Bob Iger was paid $29.6 million in 2010, or about 25 percent more than the year before, the company disclosed in a regulatory filing.
In the filing, the company's board of directors lauded Iger's "exceptional performance" in a tough economy.
Iger’s pay raise was a reward for the strong performance of Disney’s stock, which ended the 2010 fiscal year up 24 percent, or $32.98 per share.
Iger's base salary was $2 million, but as the Associated Press points out, his performance-related bonus jumped 45 percent to $13.5 million (up from $9.3 million) and stock options valued at $11.8 million (up from $9.5 million).
And Iger’s “other compensation rose nearly 8 percent to $798,433, including personal use of company aircraft and security costs.”
Disney’s net income during its 2010 fiscal year increased 20 percent (to $3.96 billion) under Iger’s watch, and revenue grew more than 5 percent to $38.06 billion.
Ok, so Disney had some stellar results. (Remember Disney is more -much more - than the parks).
I am the first in line to defend executive level pay, and Iger has delivered the goods. However in this case, even I have to say this is excessive to me. I am waiting to see what my performance based incentive is for 2010. Roumor has it, that it is up this year as well, not quite up %45 but still up.
Of course I don't know exactly what Iger has in his performance contract.
-dave
Phonedave
Well-Known Member
If anyone cares, some particulary telling statements
The decline in revenue at our domestic operations reflected the impact of one fewer week of operations and a 1% volume decrease reflecting lower vacation club ownership sales, lower hotel occupancy and lower passenger cruise ship days. These decreases were partially offset by higher guest spending primarily due to higher average ticket prices and higher average daily hotel room rates.
There you go. Somone said something about the end of the ever present discounted rack rate.
Per room guest spending went up from $214 in 2009 to $224 in 2010 (domestic parks) even though attendance was down (It was $233 per room in the glory days of 2008). Looks like removing the discounts attracted less people, but those who do continue to attend tend to have more free cash, and will spend it when they are there.
-dave
The decline in revenue at our domestic operations reflected the impact of one fewer week of operations and a 1% volume decrease reflecting lower vacation club ownership sales, lower hotel occupancy and lower passenger cruise ship days. These decreases were partially offset by higher guest spending primarily due to higher average ticket prices and higher average daily hotel room rates.
There you go. Somone said something about the end of the ever present discounted rack rate.
Per room guest spending went up from $214 in 2009 to $224 in 2010 (domestic parks) even though attendance was down (It was $233 per room in the glory days of 2008). Looks like removing the discounts attracted less people, but those who do continue to attend tend to have more free cash, and will spend it when they are there.
-dave
Foolish Mortal
Well-Known Member
This is what I hate about corporate America. The big wigs ALWAYS get their money while the people doing the real work and keeping companies in business get benefits slashed, insurance raised and are made to feel thankful that they even HAVE jobs !!! But most people do at least get that impressive 1%. My company is exactly the same way. Our big wigs always get their raises AND 8 digit bonuses.
tcwickings
Active Member
What a joke. Most people would love a 5%
MileLongBar
New Member
Ya what a joke! Walt gave up his life insurance to build Disneyland. If I were CEO I would take all that money and invest into the parks and bring the magic back
jakeman
Well-Known Member
Interesting...
I remember a conversation I had with someone around here last February when they announced discount through June.
He was (and still is, just not here) claiming that Iger lied about discounting and has claimed that it has continued unabated.
Seems that actually waiting until the end of the year and performing an analysis on the average discount and not shooting off at the mouth 45 days into the new year was the logical thing to do...
...odd. :lookaroun
Phonedave
Well-Known Member
Have you ever seen an executive's workload or schedule?
We can agrue about if they are making a resonable salary or not, but to suggest that they are not doing 'real work' sounds more like sour grapes and poor me attitude.
-dave
Phonedave
Well-Known Member
Sure you would. Why not turn back some of the salary you are currently making, just to 'help out'.
-dave
menamechris
Well-Known Member
I have no idea how anyone can be shocked. Nothing is more American than this. The rich keep getting richer. That will never change.
If thats how much the top cheese is making, I would love to know how much Meg Crofton is making...
If thats how much the top cheese is making, I would love to know how much Meg Crofton is making...
Jimmy Thick
Well-Known Member
As long as the parks stay open and new and exciting attractions come around in a reasonable fashion, I find it hard to wonder why anyone would care about what Disney exec's make, as it has nothing to do with you.
I assure you, they do not care what you make, so why care what they do.
Jimmy Thick- This is the end...beautiful friend...
I assure you, they do not care what you make, so why care what they do.
Jimmy Thick- This is the end...beautiful friend...
menamechris
Well-Known Member
Well, in their defense, I think it does matter to the thousands of castmembers who have lost their jobs the last couple years - so Iger could get that bonus. But again, business is business.