Remember Motorola? They used to make phones. Anyway, co-CEO Sanjay K. Jha (the other CEO is Batman, but you never see Sanjay and Batman in the same room so…) works for the company and apparently spent most of last year and all of this year fishing, taking dance classes, and spending time with his kids because Motorola has done fuck-all to save itself in the face of high-powered feature-phone competitors like LG and Samsung let alone Palm which, just fifteen minutes ago, was ready to croak.
Motorola needs it’s own Pre but it won’t get it. Why? Because whatever odd mutant strain of brain parasite they’re putting in the food in the MotoCFTRIA has essentially melted the frontal lobes of Motorola’s executive team and ensuring they’ll drive this truck into the river by Christmas 2009. Your thoughts?
Not that I’m congratulating the guy or anything (Motorola phone sales are so obviously in the shitter) but doesn’t Moto do heaps of other stuff like chipsets and pieces of cars and the like?
Perhaps his $104mill was because he did awesome things with the rest of the business? Or am I being too kind.
I suppose I should go look at a stock chart or balance sheet or something.
They actually spun out the cellphone division because it was bringing everyone down. Not sure on the balance sheets for the bits of cars and chipsets.
They did lose $3.9 billion last year, so there’s that. Revenue was down two billion as well.
http://news.cnet.com/8301-1035_3-10155431-94.html
Didn’t at some point last year Brown and Jha cut their salaries in half, too? Or did they just forgo bonuses?
And having eaten in the MOTOCFTRA, I cab honestly say that I never saw those guys venture down, but that the chicken salad was pretty choice.
We, the car part, was sold in 2006.
I love these headlines, useless.
Yes, he got 100M in OPTIONS, which are worth about 12M now.
Stop trying to make it out like he “walked away” with 100M$, which he clearly didn’t.
If he got that many OPTIONS, and turns the company around and makes money for everyone, including stockholders, then I say let him have it.
I broke down his pay, base, options, strike price, the whole thing: http://www.lightreading.com/blog.asp?blog_sectionid=217&doc_id=176573&
Bottom line: He’s very well paid, but not without some massive responsibilities.
The headline does nothing to illuminate. I wish people stop ebing jealous about any guy who makes more than them.
Options are not dollars!!
As the good book said, The truth shall set you free.