Darkbeer
02-06-2004, 03:47 AM
We Import Cars and Stereos, So Why Not CEOs? (http://www.latimes.com/news/opinion/commentary/la-oe-kornbluth6feb06,1,3551985.story) - Los Angeles Times, 2/6/04
QuikQuote: Even the Sun King would marvel at Michael Eisner's compensation: $737 million in a recent five-year period, or about 19 times the $38 million made by the average CEO in Forbes.com's Annual CEO Value Survey. Disney, in contrast, has fared less well. In lieu of great new products, it has raised prices on already pricey crowd-pleasers. After launching its own city to great fanfare, it has recently sold it off. Now, just weeks before a shareholders' meeting that will see dissidents crying for Eisner's dismissal, he has failed to reach agreement with Pixar, a partner that could generate as much as 7% of his company's total earnings per share through 2005.
And here is the beauty part: Although Eisner is closing in on retirement age, he seems to have made no plans for a successor.
QuikQuote: Even the Sun King would marvel at Michael Eisner's compensation: $737 million in a recent five-year period, or about 19 times the $38 million made by the average CEO in Forbes.com's Annual CEO Value Survey. Disney, in contrast, has fared less well. In lieu of great new products, it has raised prices on already pricey crowd-pleasers. After launching its own city to great fanfare, it has recently sold it off. Now, just weeks before a shareholders' meeting that will see dissidents crying for Eisner's dismissal, he has failed to reach agreement with Pixar, a partner that could generate as much as 7% of his company's total earnings per share through 2005.
And here is the beauty part: Although Eisner is closing in on retirement age, he seems to have made no plans for a successor.