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It’s just out in the Walt Disney Co’s 2008 proxy statement. The CEO who signed a new five-year contract last February received $13.95 million in salary and bonus. Actually the figure is $30.6 million with all the bells and whistles, up 11% from 2007. And what’s up with that $645,368 for security? All in all, Bob Iger didn’t do too badly in a year when Disney stock fell 14%. Once again, the moguls do well while the shareholders get screwed.
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This is just not fair Nikki,(and usually I think you’re dead on). In an environment where EVERYONE has seen their stock tank, for Disney to only drop 14% is not bad. They have had the strength of diversification and an international spread of markets to help them, but 14% is not too bad. TWX averaged a yr on yr 40% drop, let’s not even go to GE, CBS..horror story…so Disney 14% drop, not so bad. total compensation, $30MM, not bad, but I dare say he deserves it..would you like Michael to come back and run it lol???
… the studios cry poverty and have no money to pay new media residuals or Force Majeure. Vote down that agreement, SAG members – AMPTP can do MUCH better.
This is what’s wrong with America.
And by the way, the TOTAL amount asked for, not even that received, by the Writers’ Guild, was something like five million dollars a year… FROM ALL THE STUDIOS COMBINED.
So brutal Nikki but it’s the truth…..
Getting screwed is what the mogule do best….
Fuck Bob Iger.
Next come the layoffs where the ordinary working people get screwed. And the CEOs laugh all the way to bank.
In a rational world, CEOs would only get bonuses when the company’s stock does well, but in Hollywood, where fantasy becomes reality, the opposite is true.
I wonder how many layoffs did he sign off on to get that bonus?
And isn’t it funny that 1/3 of that pay package could cover the shortfall of the Motion Picture TV Fund?
Who does Iger think he is? Only I get to make more money if my company loses money. Real CEOs like Iger are supposed to get a salary cut if their company earns less money in any given year. Disgraceful isn’t it? The stockholders should stage a revolt. Sadly they don’t have enough guts to do anything about this.
Nikki..you nailed it with this article. The shareholders needs a wake-up call. All the firms CEO are certainly over-paid and Disney is certainly one of culprit. The amt they pay their -past CEOs can feed millions.
Screwed millions time over..
This is why I’m leaving L.A.
OK, now go out and earn your absurd money Bob! Cancel shit programming like Jimmy Kimmel Live and get some better scripted shows on your ABC television network for us poor schmucks to enjoy! Plus, Churros kinda suck. Work on that one too.
LOL. Jealousy much people? I’m not saying that this is cool or anything but to even INSINUATE that ANY of you would not try to nab as much as you could are either in denial or just flat out lying. I mean seriously. Yea the amount of money CEOs get is a little excessive, but do any of you REALLY think that running a WORLDWIDE business enterprise is easy? I mean, it’s difficult enough to run a small business in your hometown. If any of you think that being the CEO of a major corporation that is involved in multiple entertainment industries doesn’t deserve a six or seven figure salary you are just delusional or full of crap.
Hey, I drew the first sketches of Mickey Mouse, and then I came up with the idea of animating fairy tale classics, and I also designed a wonderland that I was originally going to call “Igerland” but for a variety of reasons ended up calling “Disneyland.”
And I wrote The Lion King. And invented videotape, and I spent nearly a year in the lab in my basement creating the first DVDs.
See, I deserve the money. Probably more. If it wasn’t for me, Disney wouldn’t exist, and there isn’t another single person on the planet who could run this company as well as I can!
Next year I want $100,000,000,000,000,000 and I want to be paid in gold doubloons!
Pirates of the Caribbean was my idea! I built all those animatronic pirates in my garage after work!
Yours truly,
B. Iger
Dear Theater Fan:
Some people have integrity and they are not ruled by greed and power.
Some people would do Iger’s job for half the money and still live a good fruitful life.
Some people think that life is not a contest of wills and ego but a celebration of family and love.
Some people would rather die than screw thousands of others who work hard for a living.
Some people are kind and decent.
None of these people are Bob Iger or any of the assholes who run studios.
We are living in a culture where kids think that if they are not born rich, beautiful or famous that they are nothing. We watch everything we treasure perverted by people just like you who think because their hearts are filled with shit that everyone else’s is too.
The conservatives who post here are condemned on a daily basis but I can tell you one thing they are right about: we are losing our foundation of decency, virtue and nobility each day and whether we need Jesus, Allah, Buddha or L. Ron Hubbard something has to be done to stop it.
Stories like this prove it.
As do people like you.
Theaterfan – 30.6 million would be an eight figure salary, not six or seven. And he should get paid – AFTER the stockholders.
Niki and all you Disney and Iger haters: Sell your stock, quite your Disney job, move out of LA and find the utopia you seek where, apparently, no incentive or profit motive sustain a business. I am sure Obama will help you in that regard if you’re first in line this coming week. I am sure the lines will be “blockbusters” that snake all over DC where all the “victims” will seek solace and ask for their tribute.
Reality is, Iger’s compensation is a drop in the bucket compared to the on-going and future enterprise that is Disney.
Would my family, small business owners, be bashed for having the almost exact ratio of compensation to gross sales? Nope. Then why here?
Crybabies, all of you!
Here’s a great idea the New York SAG crowd will go for: Let’s cave to the AMPTP and let them have their way with us by accepting just what they are offering us, no questions asked.
Then, maybe we can get Bob $60 million next year instead of a paltry $30 million. When we revisit the contract in three years, we can join with the IA and the DGA in trying to put the big guy over the $100 million mark.
After all, isn’t making moguls rich the goal of an entertainment union these days?
Thank you Bob, may I have another?
What does that idiot Ned Vaughn and those AMPTP flunkies at SagWatch have say about this little bombshell?
Thank you for printing this because Patrick Goldstein sure won’t.
No single CEO in America should take a bonus for last or this year: the economy is shrinking, their stock is falling, their revenues are falling, they are cutting jobs. Not one of the greedy, out of touch people should get an extra dime beyond their base pay.
It’s a bonus for performance, not simply turning up in the office in the morning.
And it’s irrelevant that Mouse stock is only down 14% relative to a 40% drop in TW, I’m sure he wasn’t getting pay cuts when he underperformed the peer group.
@ TheaterFan. You are correct, the people bitching and moaning here have NO IDEA what it takes to run a multi faceted global multi billion dollar business. As I said in my first post, a 14% drop is better than the market has done this year. All the people bitching on here do not understand the situation. I you hold Time Warner stock you are praying to god that it magically gets turned into Disney stock!!! I agree, if a company does particularly badly, below market conditions, then that CEO should get screwed out of any bonus…but Iger has kept his losses above market conditions…you want to crucify someone, nail that little shit Bewkes to a cross!!! Bewkes has screwed TWX so much that I took a $750 K bath thanks to him. Nikki, get educated here.
OK…I get the feeling that some of you peeps aren’t understanding what I’m saying. I’m not saying what Iger is doing is right, what I’m saying is that being a CEO of a global corporation is a lot more work and responsibility than what a 50K a year job would demand. His salary was 11.6 million or whatever, which is an 8 figure salary, what I was saying that being a CEO of any corporation that is successful deserves AT LEAST a 6 or 7 figure salary. What I have a problem with concerning this story, as most of you should have, are the bonuses and stock options that he gets that bumps it up to 30+ million, despite the fact that he has done a good job of limiting Disney’s losses to 14%.
And I defy any of you to accept a position as CEO of a major corporation and only get paid $30,000 a year straight up. I bet that you would complain and want more money. Also proving my point that it’s human nature to want more money for doing something that you feel warrants it. If some of you people really think that strongly about “greed”, then work for free for a year. Then see how greedy you get.
Everyone posting here who does not own Disney stock (and therefore has no stake in the issue) should really try to care a little bit less.
If you are envious of the amount of compensation executives get, you should probably focus either on how to work your way up the corporate ladder (because let’s not forget that Iger wasn’t suddenly born into a $30M/year job, he has worked his entire life to get to this point), or better yet – start and grow a business of your own where you can at least have some control over your own compensation instead of depending on “the man” to continue giving you a steady hourly wage and benefits.
And if you do own Disney stock and are outraged by Iger’s compensation, then either run for a spot on the Board or vote for someone who has a philosophy on executive compensation that’s more closely aligned with yours.
What I find equally as absurd as CEO’s making that much money, is the people whining and complaining about it. We have no one to blame but ourselves, maybe we should’ve done better in college and we might be a CEO of a billion dollar company right now. Come to think of it, lets blame our parents for we weren’t born with the ability to hit a baseball 500ft, pitch a baseball 100mph, Hit a golf ball with deadly precision. YOU PLAY THE CARDS YOU ARE DEALT WITH IN LIFE, it does you no good to whine about what others are making-no matter how ridiculous it is.
The way many of you rip Iger sounds as if you guys are more knowledgeable in running a worldwide conglomerate, when fact of the matter is you guys can’t even organize your own purses, don’t even know the various gauges in your car (much less change a flat or jumpstart a car), can’t even operate a DVD player, and don’t even know how to tap the various features of your blackberries, iphones, etc..
Notice how no one complains when the trained monkeys rake in big bucks? Each of the “Friends” cast was making a $1M a week to read lines written by someone else, but that’s okay!