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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (340872)	6/20/2007 4:28:24 PM
From: tejek	Read Replies (2) of 1579990

This is exactly the kind of excess I have been pointing out. This guy has done little good for YHOO during his tenure. People have been calling for his head for nearly two years. The stock has never gotten about $40 during his tenure. And yet, YHOO paid him a half billion dollars for his incompetence. If I were a shareholder of YHOO, I would be very pissed. Finance: Follow the Money Subpar Semel Slides Out With $500 Million By Brett Arends Mutual Funds Columnist 6/20/2007 10:12 AM EDT Ousted Yahoo! chief executive Terry Semel pocketed more than half a billion dollars before he was removed from office on Monday. He made the money from shares and option gains over his six years at the helm. His personal profit works out at a stunning $282,000 a day. Two hundred and eighty-two thousand dollars. Every day. Including Sunday. How's your salary feel now? If Yahoo! were willing to pay Semel that much for running the company not very well, imagine what he might have earned for doing a really good job! Semel, who will remain "non-executive chairman" at the Internet giant while co-founder Jerry Yang takes the helm, was removed as CEO after a massive shareholder revolt at this month's annual meeting. Shareholders finally lost patience with the 64-year old executive after Yahoo! spent years falling behind fresher upstarts like Google. They were particularly incensed at Semel's hefty annual compensation. But no one we know has gone back through all the public filings and counted it all up. Until now. In total, while Semel was running Yahoo!, he quietly made $448 million by cashing out shares and options. After reviewing the public filings themselves, company officials confirmed the numbers. It said Tuesday that he realized $25.4 million in 2003, $230 million in 2004, $173.6 million in 2005 and $19.0 million in 2006. On top of that, Yahoo!'s latest proxy shows, Semel is left with shares and options worth another $80 million even at today's lackluster stock price. Total: $528 million. Read more........... thestreet.com

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