I voted against Hermann's salary last year, but it seems that I was the onlyone knowing that Hermann was WORLD BEST PAID JUNIOR PREZ. I don't have a couple of hundred thousand options to forget about this little statistic as members of the board do!
You're certainly entitled to vote for or against anything as a shareholder, but you should be aware that the reason that you were the only one that was aware that Hermann was the world's best paid junior president is because he was not the best paid junior president. It took just five minutes to find the following examples of juniors with similar or better paid heads:
(Hermann Derbuch, Twin Mining, received a salary of $240,000. A further $10,000 was a perq.)
Salaries:
Archangel Diamond paid its head, Timpthy Haddon, a salary of $300,190 in 2000, and $298,257 in 1999. There were additional amount paid to him as well.
Mountain Province Diamonds
Paul Shatzko Chairman
2001 $163,000 2000 $168,000 1999 $160,000
Jan W. Vandersande President
2001 $246,010 2000 $248,117 1999 $254,917
Ashton Mining of Canada paid its head $200,000 in 2000, and splashed nearly $400,000 more among three other execs.
Manhattan Minerals paid Gordon Clow $250,000 in 2000, and 320,000 in 1999.
Many companies pay their heads as "consultants", paying the cash to a private company owned by the individual.
For instance, Canabrava paid Rory Moore $192,000 in this method for 2000.
As well, you'll find guys paid $60K or $80K a year. Not bad, but they're head of three or nine different companies at the same time. It adds up.
Regards,
WillP |
