Wal-Mart CEO receives $22 million bonus.

[babylonsister]

Wal-Mart CEO receives $22 million bonus.

Wal-Mart Stores Inc. has awarded CEO H. Lee Scott a stock bonus worth $22 million for reaching revenue targets in fiscal year 2007. Wake-Up Wal-Mart notes, “In 2006, Wal-Mart tallied its worst same-store sales growth in 27 years. The company’s stock price has remained stagnant for years. And, public opinion has taken a serious turn for the worse. … Given all that, the company’s board rewards Scott with a $22 million bonus?

http://thinkprogress.org/2007/03/12/wal-mart-ceo-receives-22-million-bonus/

[thepurpose]

1. How many door greeters were laid off to paid that?

[leftofthedial]

2. the plutocrats are cashing in big-time

their buddies have milked the treasury dry and they are divvying up the spoils.

[purduejake]

3. Is any one person worth almost $2 million a month?

We need some government regulation. People shouldn't be making that much until their workers are appropriately compensated for their success.

[Canuckistanian]

5. That's just his bonus

His base salary isn't included in that.

[Lucky Luciano]

8. His base salary is probably about a million.

Bonus is all that matters really.

[B Calm]

18. In 2005, H. Lee Scott raked in $15,681,507

in total compensation including stock option grants* from Wal-Mart Stores Inc..

And H. Lee Scott has another $2,555,146 in unexercised stock options from previous years.

http://www.aflcio.org/corporatewatch/paywatch/ceou/database.cfm?tkr=WMT&pg=1

[Lucky Luciano]

20. stock option grants are part of bonus. nt

[napi21]

4. Hmmmm.....who sets the target revenue numbers?

I am completely in favor bonuses being basedon specific goals and profit numbers, but those goalsMUST be realistic. This Walmart story sounds to me like the one who set the targets was the CEO who stood to profit!

The stockholders of Home Depot forced THEIR CSO outbecasue of excessive salary & bonuses, so lets hope the WM stockholders do the same!

[purduejake]

21. It doesn't matter...

there are always ways to manipulate the numbers to meet goals for bonuses. I know a company that sometimes issues late bonus checks because it takes them a while to play with the numbers to meet the pre-established goals. Or at least that's what everybody says, but even when we have a horrible quarter, it somehow seems to make goals. Too bad it's a matter of about $200 for most employees!

[napi21]

22. In a way you're right. I was the accounting Director at a company

that fired me becasue I wouldn't move the points from several department managers who didn't meet their bonusgoal, but collectively, they would have made the goal of the senior director! I believed it was wrong, ans still do, but obviously I lost the battle!

You can only manipulate the numbers so much though, and I still think the one who set the target fot this idiot's bonus was HIM!

[TahitiNut]

6. Another 'greeter' who worked his way up from the bottom and made good.

Oh. Wait. No. He didn't. Sorry 'bout that. :puke:

[B Calm]

26. ha ha

[Rex]

7. Maybe if they didn't uproot and move every dam store down the street

to be a SuperfriggenWalMart! How much money did they waste on that idea? Just so they could sell groceries. :eyes:

[devilgrrl]

9. And these assholes claim they can't provide healthcare to their employees....

Uh huh, yeah, sure, right....

[Telly Savalas]

17. Walmart has roughly 1.8 million employees

So that's about twelve bucks a person a year - hardly enough to fund health care. Moreover, the bonus is a fraction of a percent of the $11 billion dollar profit Walmart made in 2006. Given that a lot of companies pay their CEO's even more for shittier performance, Walmart's executive compensation policies don't even break the top twenty list of things about the company to get upset about. They may have abhorrent labor practices and have sucked the life out of Main Street, USA, but this bonus isn't a big deal.

Anyway, shouldn't the government be paying for healthcare? Or is it a good idea to have employer-based healthcare so that people are fucked when they lose their jobs?

[purduejake]

23. The gap between executive pay and others is what's staggering.

So many full time workers aren't even making what most of us would need to survive and many of the employees are reliant on government assistance. So why is it okay for the CEO to be making so much when his workers are struggling? Other companies tend to at least provide health care when they're doing well.

[OhioChick]

10. Nice....

A $22 Mil bonus, while employees are paid peanuts with no healthcare. Cheap ass.

[B Calm]

11. AFL-CIO / CEO Executive Pay Watch Database website

http://www.aflcio.org/corporatewatch/paywatch/ceou/database.cfm

[OhioChick]

14. Interesting Site....

One that I'll send to everyone. Thanks for posting. :)

[shield20]

12. How much did Hillary get?

when she was on the board? Did she do nearly this well?

[RB TexLa]

24. This is an employee of the company, not a board member

[B Calm]

13. I would have to work 1568 years to equal H. Lee Scott's 1 year salary

[EVDebs]

16. Lee Raymond of Exxon takes the cake too...$400 M parachute

Oil: Exxon Chairman's $400 Million Parachute
http://abcnews.go.com/GMA/story?id=1841989

[EVDebs]

15. And a payroll SS limit tax of $97,000 of income...

Is this "bonus" coming out of customer's pockets ? I wonder...

[B Calm]

19. Lee R. Raymond CEO of Exxon Mobil Corporation raked in

In 2005, Lee R. Raymond raked in $48,922,808 in total compensation including stock option grants* from Exxon Mobil Corporation.

From previous years' stock option grants, the Exxon Mobil Corporation executive cashed out $21,212,022 in stock option exercises.

And Lee R. Raymond has another $69,630,280 in unexercised stock options from previous years.

http://www.aflcio.org/corporatewatch/paywatch/ceou/database.cfm?tkr=XOM&pg=1

[OneBlueSky]

25. it would take someone making, say, $7.50/hour approximately1,410 years . . .

to make that kind of money . . . and the $22 million doesn't even include his annual salary and benefits . . .

in an even quasi-equitable society, shouldn't there be some kind of limit to the disparity between the lowest paid and the highest paid? . . . I mean, 1,410 YEARS!!! . . .

[cboy4]

27. What a slime ball.