Thursday, March 19, 2009

Now they come for Edgar Bronfman's bonus

While most of the capitalist hunting sport is currently being had chasing the public-supported bankers' bonuses, attention is starting to shift to other CEOs who are drawing huge bonuses despite not dong very well. Like, for example, Edgar Bronfman, who trousered a three million dollar bonus. This was in recognition of his steering Warner Music Group to a USD56million loss and a halving of share price.

It's probably just as well he did such a rotten job - if that's what he gets for terrible results, it's unlikely Warners could have afforded the size of his bonus if he'd been a success.