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Guess how much Hasbro CEO made last year? $23 million, triple what he made in 2009. (source) Hasbro revenue dropped %1.6 in 2010.
Guess ho much Mattel CEO made last year? $11 million. (source) Mattel revenue rose 8%.
4Kids bit the bullet and simply filed for bankruptcy, chapter 11. This puts the Yu-gi-oh lawsuit on hold, temporarily. 4Kids has taken numerous beatings over the last few years, being put up for sale, getting de-listed from NYSE, losing its CEO, shutting down Chaotic, and so on. (source)
Toys R Us has hired Neil Friedman, former president of Mattel brands and Fisher Price brands, to be its executive vice president with a base salary of $1 million and much more in perks. (source)
Two things confuse me here: 1) Toys R Us was just fined for applying pressure on, or favoring, certain manufacturers, and I can’t help but think this appointment represents a certain conflict of interest; and 2) the package includes a great deal of compensation to be paid to Mr Friedman even if he is terminated FOR CAUSE, including “willful failure to perform a material portion of his duties, conviction of felony involving moral turpitude, violation of his fiduciary duties to the Company and such other actions as described in the Agreement.” I want to know how I can get severance perks in my own contract even if I purposely tank the company, sell company trade secrets, and end up in federal prison?
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RE: “Guess how much Hasbro CEO made last year? $23 million, triple what he made in 2009. (source) Hasbro revenue dropped %1.6 in 2010.”
Woo-hoo! Good job! That’s what I’m talking about! Way to increase value for the shareholders! Yes!
I just looooooooooooove corporate culture. Just makes me want to set up a cubicle farm in my living room.
RE: ” I want to know how I can get severance perks in my own contract even if I purposely tank the company, sell company trade secrets, and end up in federal prison?”
Run for congress! You get an outlandish tax-payer funded pension that nobody can take away from you unless you get convicted of treason.
The country’s in the very best of hands…the best of hands….