Sears CEO's pay skyrockets as sales fall (Bush donor)

[President Jesus]

Sears CEO's pay skyrockets as sales fall
CHICAGO - Sears, Roebuck and Co. Chief Executive Officer Alan Lacy received about $2.8 million in salary, bonuses and restricted stock in 2004 - about 40 percent more than he received in 2003 despite the retailer's fourth straight year of declining sales.

Lacy's pay included a $1.02 million salary, a $768,731 bonus and more than $1 million in restricted stock, according to a filing Thursday with the Securities and Exchange Commission.

...

Sales at Sears stores open at least a year dropped 1.4 percent during 2004.
continued...

Link: Alan Lacy's political donations

[Demeter]

1. Nothing Succeeds Like Failure....

if you are a rich Republican supporter! )Thanks, Plaid Adder)

[Igel]

2. Blame the board of directors.

On the other hand, the Assoc. Students of UCLA had declining revenues and was deeply in the red at one point; we had canned the previous "CEO". The new one worked her own butt off, and those of her management team, trying everything to get the non-profit back in the black. She was probably the hardest working, lowest paid "CEO" of a $75 million organization west of the Mississippi. She earned every cent we gave her--plus more that we just didn't have.

But the student paper and non-Board students complained. All they saw was that she got pay increases and bonuses when the association was losing money.

[Warpy]

3. This is the final feeding frenzy before the collapse

that we all know is coming but that they think they're going to be able to ride out without any problems.

[Fovea]

4. When all you have working for you is cronyism

you have real deep pockets.
And you plan only short term.

[bemildred]

5. Sounds like he ought to run for pResident. nt

[AlCzervik]

6. Sears owns Lands End, they just laid off 350 people

at their wisconsin call center.

[struggle4progress]

7. kick