Seems like the “in” thing to do now is to take a $1 salary from your business if you are the CEO or something. Google’s main men did it a long time ago, and everyone thought it was funny, but I bet they are living pretty large right now. Yahoo! has been buying everything with a Web 2.0 type symbol or name beside it, and now their CEO is taking the $1 pay check jump.
Yahoo Chief Executive Terry Semel, the highest compensated executive in the San Francisco Bay Area last year at more than $56.8 million, will receive an annual salary of $1 through 2008, according to documents made public Friday by the U.S. Securities and Exchange Commission.
I really think that while this is a good thing for the CEO and the company, as they get enough compensation from other things and have to have the company keep doing well to bring in the big bucks, I think it is a little silly. If you made millions of dollars from your business through stock, and other means, would you drop to a $1 pay check a year?
He makes enough money from selling stock that his actual salary doesn’t really matter. I wonder if this helps with the books when time comes to present the company’s financial results for the quarter/year.
TheDollarFactory.com
wow thats like alot of money!!!! ~.~
It’ll help boost the retained earnings and they’ll probably use it so buy up some more companies. lol
Hi there
It is a good move , provided the company doesnt go BANKRUPT , in that case the CEO would be on the road in no time. HA HA AH.
Any howz we all know the chances for that to happen.
Cheers