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Pay Factor Soars for Universal Set
From today's Orlando Sentinel "Guess the honchos at NBC were pretty happy with Universal Orlando last year judging from the salaries paid top execs. It's rare to find the pay of Orlando theme park officials in a public filing. But I happened upon an SEC document that makes me think that Universal Prez Bob Gault can afford lots of Mummy T-shirts. Heck, he can pay full freight at the Portofino Bay and have a few bucks left for breakfast. Gault got a 266% raise last year, taking his total pay to more than $3 million or about 90 times the salary of the average Orange County resident. In Orlando, his compensation was in the league of Rick Goings of Tupperware and Craig Macnab at Commercial Net Lease Realty. But among national folks, Gault was practically on the street: Jeff Immelt, his big boss at General Electric, earned more than $12 million in '04. Even so, things were sweet for a number of Universal folks even as the park laid off some designers and pulled out of international projects. Michael Short, chief financial officer, boosted his take-home to more than $1.9 million; Gretchen Hofmann, senior VP of sales and marketing, got a 279% bump, taking her to more than $1.6 million. And Wyman Roberts, chief marketing officer, also got a raise 311% -- taking his salary to more than $1.5 million. That's only part of what he earned the remainder comes from another pool of money not listed in the same document. Even Fred Lounsberry, who was senior vice president for sales before he left Universal last year, got a big bump to something north of $826,000. None of these numbers, by the way, counts thousands of dollars that Gault, Roberts, Short and Lounsberry also took in pension payments. But most of the salary bump stemmed from Univer-sal's long-term incentive plan. It kicked in after the resort earned $22.5 million in 2004 after four years of losses. In short, network honchos made it clear they expected things to turn around. It looks like they were willing to reward accordingly."
http://www.orlandosentinel.com/busi...5993,print.column?coll=orl-business-headlines
From today's Orlando Sentinel "Guess the honchos at NBC were pretty happy with Universal Orlando last year judging from the salaries paid top execs. It's rare to find the pay of Orlando theme park officials in a public filing. But I happened upon an SEC document that makes me think that Universal Prez Bob Gault can afford lots of Mummy T-shirts. Heck, he can pay full freight at the Portofino Bay and have a few bucks left for breakfast. Gault got a 266% raise last year, taking his total pay to more than $3 million or about 90 times the salary of the average Orange County resident. In Orlando, his compensation was in the league of Rick Goings of Tupperware and Craig Macnab at Commercial Net Lease Realty. But among national folks, Gault was practically on the street: Jeff Immelt, his big boss at General Electric, earned more than $12 million in '04. Even so, things were sweet for a number of Universal folks even as the park laid off some designers and pulled out of international projects. Michael Short, chief financial officer, boosted his take-home to more than $1.9 million; Gretchen Hofmann, senior VP of sales and marketing, got a 279% bump, taking her to more than $1.6 million. And Wyman Roberts, chief marketing officer, also got a raise 311% -- taking his salary to more than $1.5 million. That's only part of what he earned the remainder comes from another pool of money not listed in the same document. Even Fred Lounsberry, who was senior vice president for sales before he left Universal last year, got a big bump to something north of $826,000. None of these numbers, by the way, counts thousands of dollars that Gault, Roberts, Short and Lounsberry also took in pension payments. But most of the salary bump stemmed from Univer-sal's long-term incentive plan. It kicked in after the resort earned $22.5 million in 2004 after four years of losses. In short, network honchos made it clear they expected things to turn around. It looks like they were willing to reward accordingly."
http://www.orlandosentinel.com/busi...5993,print.column?coll=orl-business-headlines
