Disney CEO Iger's pay up 30 pct in 2010

[EpcotCenter82]

Disney CEO Iger's pay up 30 pct in 2010

LOS ANGELES (AP) — Walt Disney Co. has awarded CEO Bob Iger a 2010 pay package valued at $28 million, up 30 percent from a year ago, according to an Associated Press analysis of data disclosed in a regulatory filing on Friday. The company said it is rewarding the 59-year-old Iger for excellent management in a tough economic environment.
The increase came as Disney's share price rose 24 percent to end the company's fiscal year on Oct. 2 at $32.98. Disney noted that the total shareholder return for the S&P 500 over the same period was just 14 percent by comparison.

During the year, Iger hired new managers for Disney's money-losing movie studio, quickly bringing it back to profitability. The studio completed the sale of the Miramax niche film label as Disney renewed its focus on its family fare from its own studio as well as Pixar and new acquisition Marvel. The Burbank, Calif.-based company also bought social game maker Playdom and mobile game developer Tapulous with an aim to reverse losses at its interactive unit, which recently went through a round of layoffs.

Fiscal 2010 net income rose 20 percent to $3.96 billion from $3.31 billion the year before, as revenue grew 5 percent to $38.06 billion.
Iger's base salary fell less than 2 percent to $2 million but his performance-related bonus surged 45 percent to nearly $13.5 million from $9.3 million a year ago. He was also granted stock options and awards valued at $11.8 million on the days they were granted, up from stock grants valued at $9.5 million the previous year.
His other compensation rose nearly 8 percent to $798,433, including personal use of company aircraft and security costs.

The Associated Press formula is designed to isolate the value that the company's board placed on the executive's total compensation package during the last fiscal year. Its calculation of total pay includes executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards at the time they are granted during the year.

The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals that companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission.

 

[flavious27]

so?

 

[epcotWSC]

I have a general disliking of giving someone who makes $22+ million a $6+ million raise. Meanwhile, I'm sure the lower end people (including office folk) aren't getting squat. Corporate America...

 

[Mammymouse]

What does someone do with $22 million or so a year? I could probably figure out how to spend a couple million a year but beyond that I would need help. It's not like he would be blowing through several thousand on a trip for his family going to Disneyworld or any other Disney park or cruise ship around the world! By the way where is his office?

 

[SeaCastle]

I understand that Iger gets compensated for steering Disney steadily through the recession, but I find it sad that it increased 30% amidst our nation's record high unemployment levels, Disney employees getting pink slips, reduced pay, and further stagnation and cutbacks at the parks.

 

[_Scar]

At least he's not going to be taxed! The man earns his money!


Ugh. Makes me sick.

 

[Criswell3000]

Great for him. I'm tired of people and their lack of economic knowledge bash CEOs just because they make a lot of money. They make money because they make their company a lot of money. Just like pro athletes make a lot of money because they make their team a lot of money. They posess rare abilities that demand a high salary. The law of supply and demand dictate that they are well paid. It is not some conspiracy theory to screw the little guys.

 

[rct247]

Not saying I dislike the guy or his decisions, but I honestly don't know how I could live with myself making that much money in a position like that, when the employees who make the real magic for the company only get minimum wage. Sure a theme park job is a theme park job that doesn't require $15 an hour, but a dollar above minimum wage wouldn't be too bad.

 

[raiden]

I guess when the majority of shareholders voted yes for upper management to allow themselves to grant there own raise hikes last year, it didn't take long for the weatherman to act on it.

Btw I voted no.

 

[WDWGoof07]

Great for him. I'm tired of people and their lack of economic knowledge bash CEOs just because they make a lot of money. They make money because they make their company a lot of money. Just like pro athletes make a lot of money because they make their team a lot of money. They posess rare abilities that demand a high salary. The law of supply and demand dictate that they are well paid. It is not some conspiracy theory to screw the little guys.

Amen brother!

 

[Wilt Dasney]

One bright spot in this story is that it means the company we all love (or rather, the company whose product we all love) had a pretty decent year. That's reason for all of us to smile a little...and for Bob Iger to walk around looking like Heath Ledger in his final big role.

 

[raiden]

Great for him. I'm tired of people and their lack of economic knowledge bash CEOs just because they make a lot of money. They make money because they make their company a lot of money. Just like pro athletes make a lot of money because they make their team a lot of money. They posess rare abilities that demand a high salary. The law of supply and demand dictate that they are well paid. It is not some conspiracy theory to screw the little guys.

And I'm tired of yes sir boss people. Law and supply didn't dictate his raise. The shareholders handed him and his Starbucks CEOs the power to get a 30% pay increase at last years voting. Wasn't to hard to do really. Use some big words and put in a shiney wrapper. People love shiney things. Since Bob really is the most creative CEO TWDC has ever seen he should be paid accordingly.

 

[Duckberg]

$$$$

The EIGER Sanction! Duckberg :lol:

 

[devoy1701]

What does someone do with $22 million or so a year? I could probably figure out how to spend a couple million a year but beyond that I would need help. It's not like he would be blowing through several thousand on a trip for his family going to Disneyworld or any other Disney park or cruise ship around the world! By the way where is his office?

Most of these execs end up giving millions to charitable causes. Not just for tax deductions reasons, but because they have the means to.

At least he's not going to be taxed! The man earns his money!


Ugh. Makes me sick.

What are you talking about he's not going to be taxed? Most of his pay (about 90%) is in the form of bonuses which is initially taxed at a higher rate than a standard salary. And Iger is going to pay a boatload in taxes as well being how high his income is. So what the heck are you talking about?

I say good for him. He seems to be doing good things to the company that we love and also placing great individuals into other areas of the company to farther support the trend we've been seeing over the past 2 years. Is he worth $28Million? Is anyone? That's not really for us to decide (well it is if we're shareholders and the majority seemed to think so). I just think I'd rather have him working for Disney than some other company at the moment.

 

[devoy1701]

And I'm tired of yes sir boss people. Law and supply didn't dictate his raise. The shareholders handed him and his Starbucks CEOs the power to get a 30% pay increase at last years voting. Wasn't to hard to do really. Use some big words and put in a shiney wrapper. People love shiney things. Since Bob really is the most creative CEO TWDC has ever seen he should be paid accordingly.

And if the company wasn't doing well, he wouldn't have seen a pay increase. But in the past year and a half the stock has gone from a low of $14 and change to hovering around $40. Yes the economy itself helped to bring it down and then back up, but a lot of that has to do with how the company has been performing.

 

[emaginear]

Great for him. I'm tired of people and their lack of economic knowledge bash CEOs just because they make a lot of money. They make money because they make their company a lot of money. Just like pro athletes make a lot of money because they make their team a lot of money. They posess rare abilities that demand a high salary. The law of supply and demand dictate that they are well paid. It is not some conspiracy theory to screw the little guys.

But NFL at least has a salary cap to keep it fair and to help spread the wealth around!:sohappy:

 

[DisneyNut2007]

The EIGER Sanction! Duckberg :lol:

Did you not read Criswell3000's post?!

 

[Criswell3000]

True. I love the salary cap in the NFL. It allows small market teams to be competitive with large market teams. Makes for great TV. I might be biased though since I'm a Saints fan.

 

[raiden]

And if the company wasn't doing well, he wouldn't have seen a pay increase. But in the past year and a half the stock has gone from a low of $14 and change to hovering around $40. Yes the economy itself helped to bring it down and then back up, but a lot of that has to do with how the company has been performing.

No one said the company wasn't doing well. I'm just wondering if you are a shareholder or are familiar with any of the voting last year? He didn't get the raise because of steering the company out of hard times. Ha everyone was down and most companies rebounded with better stock points. One thing I've learned in trading is that stock price does not equal what a company is truly made of.

Bob was given the power to award himself and other coporate managers(btw are from Starbucks and other similar companies that have no idea how to run a company with a creative side) by no other than the stockholders. Which I admit most of them didn't know what the were voting for at the time. Only afterwards were they scratching their heads.

So the past 6 years what has Bob really accomplished to be paid more than other Disney CEO per year?

Repaired the pixar relationship? Maybe
Bought marvel? K good move but nothing creatively groundbreaking(yes marvel is but buying other companies)
Dca revamp? It was bound to happen. It had too

I personally do not believe he is worth the money. He's more like continuing off where Eisner left off than having his own vision. What Disney really needs for the long haul..

 

[menamechris]

So the past 6 years what has Bob really accomplished to be paid more than other Disney CEO per year?

Repaired the pixar relationship? Maybe
Bought marvel? K good move but nothing creatively groundbreaking(yes marvel is but buying other companies)
Dca revamp? It was bound to happen. It had too

I personally do not believe he is worth the money. He's more like continuing off where Eisner left off than having his own vision. What Disney really needs for the long haul..

I couldn't agree more. He seems to be still riding the wave of success from previous executives, to be honest. I can't help but think he has been maybe too hasty in his decisions, actually. Pixar, ok. Marvel? Hmmmm, and what exactly are we doing with that? He really seems to enjoy buying things, but I would be a little more excited about him if he liked to build things too. Maybe a little more investment in the parks besides a FLE for Florida. But congratulations for CA for their DCA overhaul. I just doubt any of Florida's parks would receive similar treatment.