Wal-Mart CEO receives $22 million bonus.
By on Mar 12th, 2007 at 11:38 am
Wal-Mart CEO receives $22 million bonus.
Wal-Mart Stores Inc. has awarded CEO H. Lee Scott a stock bonus worth $22 million for reaching revenue targets in fiscal year 2007. Wake-Up Wal-Mart notes, “In 2006, Wal-Mart tallied its worst same-store sales growth in 27 years. The company’s stock price has remained stagnant for years. And, public opinion has taken a serious turn for the worse. … Given all that, the company’s board rewards Scott with a $22 million bonus?”
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All CEO’s are overpaid these days. The statistics reflect the out of proportion pay increases they have recieved.
March 12th, 2007 at 11:42 amBut just imagine how much he would have gotten if he actually improved the company.
March 12th, 2007 at 11:44 amIt’s probably a poor decision given the recent track record of WalMart, but the fact remains it IS their decision. If you don’t like it, then don’t shop at WalMart… plain and simple.
March 12th, 2007 at 11:47 amMaybe they should think about a move to Dubai.
March 12th, 2007 at 11:49 amhow about spreading some of that out to W-M employees?
March 12th, 2007 at 11:51 amIf you don’t like it, then don’t shop at WalMart… plain and simple.
I don’t. Nor do my two daughters. Yet they still gave him an outrageous bonus. So what’s your point?
March 12th, 2007 at 11:53 amIsn’t that between him and the stockholders of Wal-Mart? Hillary Clinton is vastly overpaid for her work but that is between her and the voters of New York.
March 12th, 2007 at 11:56 amI actually don’t begrudge this guy a fat paycheck. The metrics of success may not be the shareholders’ bottom line as it normally is, but he is moving Wal-Mart in the right direction, particularly as the environment is concerned.
March 12th, 2007 at 11:56 am$22M would go some ways toward helping make that company better. Alas, it’s all about greed.
Walmart is just one example. Any company where the CEO and senior managers make 600 times the average salary of their employees is stealing to make themselves rich.
Check it out. There are very very few companies in the USA where the CEOs make what Japanese CEOs make: 55 times the average employee salary.
March 12th, 2007 at 11:58 amwhat’s the problem here? is that tax-payer’s money? why should we care about how much a CEO gets paid?
March 12th, 2007 at 11:58 amThis seems like a very poor choice. I hope Walmarts stock owners take notice and demand something different. This is $22 million wasted. Hopefully this post by TP will help show those that this matters to, the stock holders. Weird post by TP however as this money is only the business of the stock holders. Is TP asking that Walmart be smarter with their profits and give more to it’s shareholders, like it should? I guess I agree and if I was a shareholder, I would demand more of that money for myself.
March 12th, 2007 at 12:02 pmIt’s time for the workers to rise up and fight these greedy, american hating, godless thugs.
March 12th, 2007 at 12:08 pmyugan,
As a matter of fact Walmart gets nice tax deductions, incentives.
I have no problem with corporations making big profits, but at the expense of exploiting people is inexcusable.
March 12th, 2007 at 12:09 pmyes, every community wal mart puts a supercenter in gives away tens of millions in tax “incentives”. why are local communities giving america’s wealthiest family anything?
March 12th, 2007 at 12:14 pmwhy should we care about how much a CEO gets paid?
Comment by yugan
Cuz it´s pretty much the Wal Mart workers labour taken by just one guy.
March 12th, 2007 at 12:18 pmBy WHAT measure can anyone think ONE MAN is worth $22MILLION DOLLARS???
People who think there’s no issue with this have consumed the Cool Aid that helps them believe that they too could someday make that kind of money. Alas, they fail to understand that very very few people ever even get the opportunity to rape, plunder, and pillage on that scale.
Anyone remember when ATT laid off 15,000 employees? I did a quick calculation and found that the increase in CEO and senior management salaries THE VERY NEXT YEAR following the layoff somehow magically added up to the salaries of all the folks who lost their jobs.
Again, I ask, who deserves this kind of money at the expense of 15,000 jobs lost? Explain it to me. Seriously.
March 12th, 2007 at 12:19 pmComment by Patrick1 — March 12, 2007 @ 11:56 am
You’re funny. You don’t know that the people of New York don’t set the salaries of US Senators. You also don’t know that the stockholders of WalMart don’t set the compensation for the CEO.
March 12th, 2007 at 12:20 pmCan we deliver it in the form of a pennystack enema?
March 12th, 2007 at 12:21 pm#10 We should care as the taxpayers subsidize walmart when they build a new store. The CEO is stealing from the taxpayers.
March 12th, 2007 at 12:25 pmAgain, I ask, who deserves this kind of money at the expense of 15,000 jobs lost? Explain it to me. Seriously.
Comment by JesusChrist_GodofWAR
WE have in Mexico, the third richest man in the world. And stupid people think that is a good thing, something to be proud of. Shameful.
March 12th, 2007 at 12:26 pmI have no problem with corporations making big profits, but at the expense of exploiting people is inexcusable.
Comment by JustSomedude
Then, it cant be a corporation.
March 12th, 2007 at 12:26 pmwhat’s the problem here? is that tax-payer’s money? why should we care about how much a CEO gets paid?
Yes it is tax-payer’s money. Walmart receives direct and indirect government assistance. Workers don’t receive health care so they go on Medicaid, we pay. Communties give them tax breaks, we pay.
March 12th, 2007 at 12:27 pmMaybe China Mart will move to Bejing…then they wouldn’t have to ship all those $2-$5 items over here and American manufacturing could regain a grip on the domestic market.
March 12th, 2007 at 12:43 pmGood thing CAP didn’t enter any kind of alliance with Wal-Mart recently
March 12th, 2007 at 12:46 pmWelcome to Trickle Down Economics 2.0. Just like the original, but with a new name and even less effective!
I love how their excuse is that he “met goals.”
Shoot. I wish I got a bonus for only doing what is expected of me and nothing more!
March 12th, 2007 at 1:07 pmMy point is that it’s a corporation owned by the stockholders; as Patrick1 said in #7, it’s between him and the stockholders (or more properly the BOD and the stockholders).
#22, if you’re going to use *that* yardstick, then the government should control everything; prices, wages, benefits, etc.
March 12th, 2007 at 1:26 pmWelp, there goes the cost in energy savings that flourescent bulbs just saved.
March 12th, 2007 at 1:31 pm…and DUHmerican Bushite conned’self-servative trailer park crowds LOVE IT…
…they shop there loving those Chinese products…
…at the cost of American jobs…
…and worship PIGS like Scott (and Bush)…
…when they’re (DUHmerican inbreds) eating dogsh*t and can’t feed their children…
…they’ll be getting EXACTLY what they deserve…
…idolatry is a sin…
March 12th, 2007 at 1:34 pmwhat’s the problem here? is that tax-payer’s money? why should we care about how much a CEO gets paid?
Yeh I agree, I like paying more for products while seeing people make min wage. Hey, whaddya say, lets go buy some lottery tickets and pay some voluntary tax!
/Sarcasm on
BTW isn’t it really the consumer who met the goal?
March 12th, 2007 at 1:38 pmMy point is that it’s a corporation owned by the stockholders; as Patrick1 said in #7, it’s between him and the stockholders (or more properly the BOD and the stockholders).
Comment by Dale
When a company such as Wal-Mart receives $1 billion in tax-payer subsidies then I think your excuse of “we have no right to bitch” goes out the window.
March 12th, 2007 at 1:40 pm#30 We can agree that the USA government shouldn’t provide welfare to any company, country, or person. Currently however, shunning Walmart from getting a handout would mean you need to shun many many companies, countries, and individual American citizens. By your yardstick, the USA government should have control of what any individual spends there money on if they receive any government aid. Actually, most of Latin America should have to ask us first before spending money as they also receive welfare.
This seems out there to me, but who knows. Are you advocating that the USA government mandate how each welfare case spends their money?
March 12th, 2007 at 1:53 pm#30, most companies receive tax-payer subsidies in one form or another, usually to entice the company to open a store/warehouse/factory/etc in that city/state. In return, the city/state/etc hopes to reap economic benefits. I’m not particularly for the practice, but it happens.
Don’t like it? Start with your local city council or economic development authority, from there go to your state legislature. Tell me this dlet… do *you* ever shop at WalMart, or Sam’s Club? Or Kmart? Or Home Depot? Lowes? How about a mall? Target? Do you also want a say in *their* CEO salaries/benefits/etc?
So what kind of car do you drive… Toyota? Ford? GM? Their CEO’s have all earned BIG money (and that was found by a 30 second google search. So do you want to complain about the salaries by ALL the CEO’s?
March 12th, 2007 at 1:56 pm#31, good points… as far as that goes, most, if not all, receive at least a little bit of ‘government money’ in one form or another. Anybody here rcv’d any grants for school? Should the gov’t tell you to take skydiving instead of gourmet cooking as an elective?
March 12th, 2007 at 1:58 pmhowever, shunning Walmart from getting a handout would mean you need to shun many many companies, countries, and individual American citizens. Comment by Roger_Roger
Why? How is providing “corporate welfare” to a profitable, public company tied to providing, for example, food stamps to a single mother in Nashville? I argue we can cut of Walmart without also cutting off the mother.
March 12th, 2007 at 2:23 pmHey Dale and Roger (x2)…
…if Walmart can afford to give out such generous bonuses…
…why do taxpayers have provide healthcare…
…for many of Walmart’s employees and their families?
March 12th, 2007 at 3:35 pmhowever, shunning Walmart from getting a handout would mean you need to shun many many companies, countries, and individual American citizens. Comment by Roger_Roger
Giving extar money to a company that makes money hand over fist in profits and that can give a $22 million dollar bonus is much different thatn giving money to a start up or a financially strapped business that is important to a community. You really had to stretch for that one. Hope you didn’t hurt yourself.
March 12th, 2007 at 4:00 pmHey folks,
I am not for handouts in any form. What would give you the idea that I am for these things? From my last post:
“We can agree that the USA government shouldn’t provide welfare to any company, country, or person.”
I am simply pointing out that we cannot make demands of free market companies, only their owners can. It is the shareholders responsiblity to make sure they receive the maximum amount of profit possible. Again, I agree that the USA government should stop with the Handouts across the board. No company should receive them regardless of how profitable or how unprofitable they are. The free market helps good companies and kills bad ones. that is how it should be. Government messing with the system is always bad.
March 12th, 2007 at 4:10 pm#32
Dale,
Thanks for the info about being active in your community. Its nice to know what to do. What I think is quite funny is that you are basically saying that everyone should shut their mouths and not discuss the salaries of CEOs just because you say so.
To answer your question about those stores…..I don’t buy from any of them.
I have a Chevy and I still think that the salaries of the top management is ridiculous when the are shutting down plants, getting major assistance from the government, etc.
I just want to know is when were you chosen as the person to decide that discussing the rampant greed that is destroying the business atmosphere in the US is beyond everyone else.
March 12th, 2007 at 4:12 pm#38, I was chosen because I’m the supreme authority on everything
/sarcasm.
Sorry, dlet, didn’t know I was allowed to post opinions here.
Idiot.
March 12th, 2007 at 4:21 pmSorry, dlet, didn’t know I was allowed to post opinions here.
Comment by Dale
That’s exactly what you are railing against. You moron. Funny how idiots see a reflection in the mirror and start making monkey noises at it. They can never see themselves.
March 12th, 2007 at 4:29 pm#40, I gave an opinion on the CEO’s compensation… I never sarcastically asked when you were “chosen as the person to decide”.
March 12th, 2007 at 4:32 pmThis is exactly why the Father of Capitalism, Adam Smith did not like the idea of corporations. Why would the board give $22 million to their buddy for mediocre performance? Because the board is not the owners OR the shareholders and works in its OWN self-interest, which is not necessarily the same interest as the owners or the stockholders. Adam Smith predicted this kind of thing would happen a long time ago.
March 12th, 2007 at 5:04 pmRoger: “We can agree that the USA government shouldn’t provide welfare to any company, country, or person.â€
No, we don’t all agree on that, Roger. In fact, I’d hazzard a guess that the vast majority of Americans don’t agree with that.
March 12th, 2007 at 5:14 pmFunny how idiots see a reflection in the mirror and start making monkey noises at it.
Comment by dlet
The only difference is that Dale is not funny. Just sad.
March 12th, 2007 at 5:35 pmDale and Roger,
By NOT responding to my certainly rational and legitimate question…
…in post #35…
…have proven beyond a reasonable doubt…
…that THEY aren’t serious in engaging in “SERIOUS” debate…
March 12th, 2007 at 8:22 pmGovernment messing with the system is always bad.
Comment by Roger_Roger
So you are for stopping corporate welfare?
Yet you probably may also agree that government should tell you what you can, and cannot do with your body however?
March 12th, 2007 at 9:51 pmGovernment messing with the system is always bad.
Comment by Roger_Roger
What do you call a no-bid contract?
March 12th, 2007 at 9:52 pmI gave an opinion on the CEO’s compensation
Many people get by on minimum wage, why can’t Mr Ceo?
March 12th, 2007 at 9:54 pmGovernment messing with the system is always bad.
Like those crazy child labor laws. Buddy, you really need to shut up about economic issues. You know nothing.
March 12th, 2007 at 10:01 pmIt ticks me off because I, the customer, pay for that bonus.
If I shop elsewhere, I’ll just pay for someone elses bonus.
March 12th, 2007 at 11:12 pmTHE TRICK IS, NOT TO PATRONIZE ANY OF THE BIG CHAINS LIKE WAL-FART, K-FART, ET CETERA AD NAUSEUM, THEREBY DENYING THEM THEIR PROFITS! PATRONIZE THE SMALL MOM-AND-POP STORES AND SMALLER BUSINESSES THOUGH YOU MAY PAY A FEW CENTS OR DOLLARS MORE–BY DENYING THESE BEHEMOTHS YOU ARE PRACTICING THE MOST POWERFUL TOOL OF THE CONSUMER–THAT OF THE BOYCOTT OF BIG CHAINS IN ORDER TO SHOW THESE F*CKING CREEPS WHO IS BOSS–NAMELY US, THE CONSUMER. EVERY CHANCE YOU GET TO STICK IT TO THESE F*CKS, DO SO WITH GUSTO AND RUB THEIR FACES IN THE SHIT THEY SPREAD AROUND!!!!!
March 13th, 2007 at 8:26 pmI recall a discussion on a forum a few months ago, regarding GM’s executive compensation. I don’t recall the exact figures, but one person said something along the lines of “GM pays it’s CEO 10 million dollars, Toyota pays it’s CEO 1 million dollars. For that difference, Toyota can hire 100 more engineers. That’s why I drive a Toyota.”
March 13th, 2007 at 9:21 pmBasically the tax payers paid him 22 million $ , beacause 90 to 95 % of walmart employees are on some type of gov’t assistance because they dont make enough to support there families Its sad that they even qualify for assistance cause just to qualify you have to make basically nothing . Now they are only hiring part-time people they dont want full time employee cause they dont want to pay the medical insurance . Altleast that is the way it is at the wally world i worked at for 2 1/5 years
March 14th, 2007 at 12:37 pmLet’s see, as I recall Wal-Mart stock at it’s current price of around $46 is only off about 35% from it’s high. Great job management. You’re worth every penny. Keep squeezing the little guys so that you can get your obscene compensation packages. I hope you all get everything that you deserve.
March 14th, 2007 at 11:16 pmI am a former walmart salaried specialty district manager. I was stuck with a salary that didn’t increase as I had been in my position for 8 years, all the while the newer persons in the position made more than me after nearly 15 years of service.
March 15th, 2007 at 1:30 pmI personally email Lee Scott, and of course, “there is nothing we can do”. However, he has been in the same job for at least five years, and now he gets a 22 million dollar bonus while hourly associates are getting capped out of their wages and can longer receive a merit increase. So, these folks have to work their asses off to never make another increase in their lives with Walmart, while this man makes this obscene amount. It is a sin.
I work at wal-mart now and got started out at 9.70 an hour, if that isnt enough to provide for a family then what is? i also get 40 hours a week and so does everybody else that works there. and i dont know where you heard that they dont give medical insurance or any other kinds of benefits but you are wrong they give excellent benefits. The stock what ever you want to pay in each check they will put in 5% of what you put in, so they are giving us some of the chunk of the money.
March 17th, 2007 at 4:22 pmI HAVE BEEN DOING SOME RESERCH ON WAL MART LATLY AND IVE FOUND AN AVERAGE RECORDING OF 40-45MILLION A YEAR IS BEING DRAINED OUT OF AMERICAS ECONOMY BECAUS OF WALMART
March 28th, 2007 at 12:11 pm