You’ve got to read this "Fast Company" article on Nathan Hubbard:<\/p>\n
\nTicketmaster: Rocking The Most Hated Brand In America<\/a><\/div>\n<\/blockquote>\nIn it Nathan decries my accusation that he made $5.7 million last year.<\/p>\n
He claims it’s untrue.\u00c2\u00a0 That most of it was stock options.\u00c2\u00a0 His 2010 salary and bonus WAS ONLY $1.3 million!<\/p>\n
$1.3 million.\u00c2\u00a0 Why?<\/p>\n
Have we lost our minds here?\u00c2\u00a0 A corporation loses triple digit millions and you pay the employees a sum eclipsing the income of my whole neighborhood?<\/p>\n
I’d hide too.\u00c2\u00a0 I wouldn’t respond either.<\/p>\n
Furthermore, I take issue with the other $4.4 million, the stock options that haven’t yet vested and theoretically won’t be worth anything if the stock doesn’t move up.<\/p>\n
The price can be moved downward.<\/p>\n
Just read this article:<\/p>\n
\nBronfman buck$<\/a><\/div>\n<\/blockquote>\nThe Warner Music board lowered the price at which Edgar Bronfman’s stock options vested, ensuring that he got paid.\u00c2\u00a0 Do you really think the Live Nation board won’t do the same thing?\u00c2\u00a0 A Live Nation board controlled by Irving Azoff?<\/p>\n
Both these companies are losing money.<\/p>\n
Sony loses 37% of its value under Howard Stringer and they cut his salary and bonus by 15%:<\/p>\n
\nSony Cuts Howard Stringer\u00e2\u20ac\u2122s Pay Package as Chairman by 15%<\/a><\/div>\n<\/blockquote>\nWe need more of that kind of thinking in the corporate world of music.<\/p>\n
If you own a private company, I don’t care how much money you make.\u00c2\u00a0 It’s yours!\u00c2\u00a0 Obey the law, pay your taxes and keep the rest.\u00c2\u00a0 But if you want the public to invest you’ve got a fiduciary duty, you have to put stockholders first, not yourself.\u00c2\u00a0 Steve Jobs famously takes only a dollar a year in salary.\u00c2\u00a0 Granted, he has made a fortune in stock options, but he rescued a company from the precipice and turned it into the second most valuable enterprise in America…do you really want to argue about how much he got paid?<\/p>\n
Not me.<\/p>\n
Deliver results, we’ll give you rewards.<\/p>\n
But all we’ve got right now with Ticketmaster is red ink.<\/p>\n
Then there’s U2.\u00c2\u00a0 In today’s "Los Angeles Times" there’s a story about IATSE picketing the band’s video shoot in Winnipeg:<\/p>\n
\nMatt Loeb of IATSE takes a more aggressive role<\/a><\/div>\n<\/blockquote>\nYou can read a brief, comprehensive explanation of what happened here:<\/p>\n
\nU2 Picketed as ‘Union Busters’ by Stage Employees Group<\/a><\/div>\n<\/blockquote>\nAnd you’ve got the famously Irish U2’s tax evasion issue:<\/p>\n
\nOur Glastonbury U2 protest was a call for an ethical tax culture<\/a><\/div>\n<\/blockquote>\nNow if Bono were Gene Simmons, an egotistic money whore, I would not be so incensed.\u00c2\u00a0 But isn’t this the guy who’s trying to save the world?<\/p>\n
And speaking of Sony, did you see that Facebook hired George Hotz?<\/p>\n
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