Disney CEO Iger's pay up 30 pct in 2010

[Figment632]

Well I want Roy O. Disney back.

He was the CEO whe Disney land opened and was the President and CEO when Magic Kingdom Fl. opened....

Though i'm sure most of you knew that.....

Sure why not just say we want Walt back Iger is a moron who ignores the parks completely.

 

[Uncleromulus]

I think they are looking at net COMPANY income and revenue--both of which are well up.

I agree the parks aren't on his radar, but they are only a portion of the bigger picture.

 

[MurphyVol]

Iger has done a great job. Disney Channel, ESPN and ABC Family delivered record ratings. Alice in Wonderland and Toy Story 3 took in $1 billion in global receipts.

There is a lot more to Disney than the parks. And they have held their own through two major recessions in less than a decade.

The reason he gets so much money? The market cap of the company has grown 20 Billion since he took over.

 

[nytimez]

Iger has done a great job. Disney Channel, ESPN and ABC Family delivered record ratings. Alice in Wonderland and Toy Story 3 took in $1 billion in global receipts.

There is a lot more to Disney than the parks. And they have held their own through two major recessions in less than a decade.

The reason he gets so much money? The market cap of the company has grown 20 Billion since he took over.

Seriously, Bob, you didn't have to join the Dis to defend your salary.

 

[MurphyVol]

Seriously, Bob, you didn't have to join the Dis to defend your salary.

That's Billion with a B just in case you missed it.

 

[manning]

i was speaking from how i saw eisner at the end. When eisner first took over he did some amazing ideas. And he did help to create new attractions but started to get chincy on the budgets.

(cast member 96-00 , opening team disney quest)

I am not saying iger deserves that large of pay increase (or one at all really) but i have seen more invention starting to get back into the parks.

(original eisner) > iger > ending eisner

Actually Frank Wells!!

 

[Oglet]

I am sure ALL of the hourly Cast Member employees at WDW to whom a 2%-3% union contract pay increase has been offered wish Ogre (I mean Iger) good fortune on his salary increase.

30% raise for us would mean the world, 30% raise for him is just another number in his bank account.

I just don't understand how anyone is worth that kind of salary, You could put a muppet in his job, surround them with smart people and they could do what he does.

 

[skiingfast]

Iger was paid the exact correct amount. You can disagree but are wrong.

The market determines prices, what is paid is the value at the time what something was worth. If you bought a gallon of gas at $2.95 it was worth that exact amount. If you bought an airplane ticket for $182, it was worth that amount.

I'm sure many people thought Iger was worth that salary, and he was at the time. They were right and the ones that were paying.

If you don't like it, buy Disney stock. You can vote against the directors on the executive pay commitee. If you think they made a mistake fire them. You can also make a proposal to how the CEO is paid that the shareholders can vote on.

Education solves more problems than complaining.

 

[alaskagirlchrissie]

Iger was paid the exact correct amount. You can disagree but are wrong.

The market determines prices, what is paid is the value at the time what something was worth. If you bought a gallon of gas at $2.95 it was worth that exact amount. If you bought an airplane ticket for $182, it was worth that amount.

I'm sure many people thought Iger was worth that salary, and he was at the time. They were right and the ones that were paying.

If you don't like it, buy Disney stock. You can vote against the directors on the executive pay commitee. If you think they made a mistake fire them. You can also make a proposal to how the CEO is paid that the shareholders can vote on.

Education solves more problems than complaining.

I can guarantee you the gallon of gas I bought at $3.60 is not what it is worth. It is only what the Government tell's me they think it is worth. I for one know I am getting ripped off!!!

 

[manning]

A number of years ago a baseball player (don' remember his name) was making 7 million a year (big number then). He was offered a contract with another team for around 3 times the amount.

He turned it down. He and his family were happy where they were at.

He said if he couldn't live on 7 million a year he was doing something wrong.

Not only is Iger greedy, he is on a power hungry ego trip.

If I could earn 4-5 million a year in unearned income I would be very happy.

 

[skiingfast]

I can guarantee you the gallon of gas I bought at $3.60 is not what it is worth. It is only what the Government tell's me they think it is worth. I for one know I am getting ripped off!!!

You made the choice to buy it which validated the price you paid. If it wasn't worth it, you wouldn't have bought it.

 

[alaskagirlchrissie]

You made the choice to buy it which validated the price you paid. If it wasn't worth it, you wouldn't have bought it.

No, it's not worth the price. But, we are put in a position of pay the price, or walk, take the bus, bike or whatever other means of tranportation you can find. just because you purchase something you need does not mean that you agree with the price, it only means you were given no other choice. Do you agree with what your Dr. charges for a Dr. visit? No, most likely not. But what other choice have you been given.

 

[imstock]

I think I have the best veiw of the situation as I am a cast member, and I dont agree with him getting a 30% increase for ANY reason while the 63,000 of us working here at DW get next to nothing.

In all actuality, had our latest contract been approved the majority of us would have brought home LESS pay this year since the proposed raise and "bonus" wouldn't have covered the increased cost of our health insurence. They even tried bribing us to vote yes by offering us a $500 unity bonus.

As for everyone saying Iger isn't doing us justice here in the parks, I disagree. Thanks in part to the HUGE success of Toy Story 3 we are getting the FLE, a rumored E-Ticket in Tomorrow Land, a MASSIVE park with refurb at MK, the monorail is finally expanding etc... The man is the head of a MASSIVE company with an unimaginable number of people below him making decisions on things that he never even sees, so lets not put the entire blame on him for some of our guests displeasure here at the parks.

 

[Peter Pirate 2]

I think I have the best veiw of the situation as I am a cast member, and I dont agree with him getting a 30% increase for ANY reason while the 63,000 of us working here at DW get next to nothing.

In all actuality, had our latest contract been approved the majority of us would have brought home LESS pay this year since the proposed raise and "bonus" wouldn't have covered the increased cost of our health insurence. They even tried bribing us to vote yes by offering us a $500 unity bonus.

As for everyone saying Iger isn't doing us justice here in the parks, I disagree. Thanks in part to the HUGE success of Toy Story 3 we are getting the FLE, a rumored E-Ticket in Tomorrow Land, a MASSIVE park with refurb at MK, the monorail is finally expanding etc... The man is the head of a MASSIVE company with an unimaginable number of people below him making decisions on things that he never even sees, so lets not put the entire blame on him for some of our guests displeasure here at the parks.

As you can tell I am a big CM supporter, so I agree with your views on his salary. But Oglet got it right, IMO. You COULD put a Muppet in his position and the people around him would run the company just as successfully and maybe better, as a Muppet would have more imagination than Iger.

I too am happy for for some of the improvements we are seeing but with the success of WWoHP they really have little choice at this point, so I think Harry needs to be thanked more than Iger for this.

 

[imstock]

You COULD put a Muppet in his position and the people around him would run the company just as successfully and maybe better...

...with the success of WWoHP they really have little choice at this point, so I think Harry needs to be thanked more than Iger for this.

I agree. Once the totem-pole is as large as ours is, you could feasibly substitute any one level with a chimp and the surrounding levels would continue to function.

As for Harry, Universal is doing anything it can to stay relevant and their latest splurge to build WWoHP is just that. Yes, it made them relevant once again, but they need that simply to continue operating where-as Disney could suspend construction and continue to operate on the guests that come here on the name alone. Universal will never truly be a threat to DWs success as they could never provide the guest experience available here.

On topic though, I am interested in seeing who takes the reigns when Iger retires.

 

[Peter Pirate 2]

I agree. Once the totem-pole is as large as ours is, you could feasibly substitute any one level with a chimp and the surrounding levels would continue to function.

As for Harry, Universal is doing anything it can to stay relevant and their latest splurge to build WWoHP is just that. Yes, it made them relevant once again, but they need that simply to continue operating where-as Disney could suspend construction and continue to operate on the guests that come here on the name alone. Universal will never truly be a threat to DWs success as they could never provide the guest experience available here.

On topic though, I am interested in seeing who takes the reigns when Iger retires.

I agree with your views on Universal up until Harry. But now, with the huge success and the path laid in front of them, I think Universal is a different beast than it was or has ever been and the recent 51% sale makes them more relevant, IMO. Again, I NEVER though a little player like Universal could be so fortified in Orlando but Disney allowed them to do it, practically invited it. All guests will benefit from this though.

Regarding Iger's departure, I personally think Iger will leave with the sale that Eisner almost departed with. Whether it be a piecemeal garage sale or a complete sell out, he would personally reap unbelievable booty from the sale, booty Capt. Jack could only dream of. Booty Eisner is kicking himself for not closing on.

 

[skier_pete]

I won't comment on whether Iger "deserves" what he gets, or whether he's doing an good job running WDW.

However, most of what CEOs get paid is based on a contract that they sign when they join the company that stipulates how much they get. Iger's most recent contract, from what I can see, was signed in 2008. A lot of the time, these "30 % raises" occur because part of their contract is they are granted a certain # of stock options each year. It is not based on a certain set price, but a certain # of shares. I didn't look into it, but say Iger gets 100,000 shares per year per his contract. If the stock price goes from $25 average one year to $32.5 average the next year, than his pay will go up 30 %.

However, the irony of people complaining about his pay going up is a stock option at $25 a share is MORE lucrative to Iger than a stock option of $32.5 a share. So even though he gets PAID more (on paper) with the higher value stock option - he actually MAKES more (in his pocket) when he excercises the LOWER value stock option. And he only MAKES money on any of these things if the stock price stays up. (If the stock price drops below the option price, they become worthless.)

So, these articles about CEO pays going up are really more about enraging the general populace (and employees specifically) than about real compensation. Another example of this - a small amount of research will show that his compensation in 2008 was $30.6 Million. (See here if you wish.) These most recent articles claim in 2010, it was $28 Million, "up 30 % from a year ago" (or actually I've seen varying #s from 24 to 35 % up". So, in 2009 he was down to $21 Million. (I'll give you THAT link here.)Yet, last year, you didn't see anyone touting "Bob Iger take 35 % Pay cut." Nope, because that's not news that interests people, only news that makes CEOs look like greedy *******s.

Now, the truth is, NIETHER should be big news. Compensation is based on a CONTRACT that is publicly available. Bonuses and stock options are spelled out in the contract. If the company is profitable, then the that's why he gets paid.

I'm not defending how much CEOs or executives make...I'm just trying to point out that to ride them for pay increases that they are contractually obligated to when hired is rather hopeless.

 

[TheRustyScupper]

Now, the truth is, NIETHER should be big news. Compensation is based on a CONTRACT that is publicly available. Bonuses and stock options are spelled out in the contract. If the company is profitable, then the that's why he gets paid.

1) As an ex-CEO, I also had nice employment contracts.
2) When the company was profitable, the bonuses were huge.
3) BUT, I did not pay our employees on-the-cheap.
4) Nor, offer 2% raises for people making just over minimum wage.
5) Greed may be good, but employees need not suffer for executive pay.

 

[imstock]

1) As an ex-CEO, I also had nice employment contracts.
2) When the company was profitable, the bonuses were huge.
3) BUT, I did not pay our employees on-the-cheap.
4) Nor, offer 2% raises for people making just over minimum wage.
5) Greed may be good, but employees need not suffer for executive pay.

Exactly.

I don't work at Disney for the money. My wife and I are NOT doing all that great financially, but I still continue to come here for a measly $7.70/hr wage. My aspirations are for a career here with Disney, so I am putting in my time and for now I take the majority of my pay in the smiles and joy I bring to our guests.

With that said, I would certainly love to share in the companies profitability; all percentage and stock debates aside.

 

[CandyMandy]

Michael Dammann Eisner = product of stuffy Park Avenue culture, but had some visionary elements, due in large part to a solid liberal arts education. Certainly not the most likeable guy (I really hated his attempts to channel Walt while playing "Uncle Mike" as an opener on various Disney TV broadcasts) but as time goes on he grudgingly gets some credit for thinking years and decades ahead, not just about next quarter. Thank him for not just new parks but also DCL.

Robert Iger = product of Long Island with functionary upbringing, which is reflected in his 2005 decision (one of his first as CEO) to disband Disney's strategic planning area and delegate "vision" to operating units, with the expected outcome ("vision" quickly becomes a stepchild in a realm that is soley focused on next quarter results). Thank him for....Pixar deal (yawn).