Nintendo CEO takes 50% pay cut after poor performance

Discussion in 'Latest US & World News' started by Recusant, Aug 13, 2011.

  1. Recusant

    Recusant Active Member

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    What a novel concept, fancy a businessperson taking responsibility for their company's performance. :rolleyes:

    http://mynintendonews.com/2011/07/2...ident-takes-50-pay-cut-due-to-poor-3ds-sales/

    Of course, it's not in the business pages - only game sites seem interested in such an event.
     
  2. Clint Torres

    Clint Torres New Member

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    Now that's a real man. Anyone willing to take accountability for his companys failure is a rare person in the corporate world. That beats Hary Cary anyday.

    In the USA, when corporations fall short of earnings, they get a promotion and sell off some stock options when the price is high and lay off many workers to make up for the shortfall. Also, shareholders eat it too.
     
  3. snakestretcher

    snakestretcher Banned

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    What a refreshing change from bankers paying themselves bonuses for failure. Bravo.
     
  4. Colonel K

    Colonel K Well-Known Member

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    One can but wonder how he'll subsist on only million a year. It's a teeny gesture, but nonetheless welcome.
     
  5. Recusant

    Recusant Active Member

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    I find it interesting how sparsely it's reported.
     
  6. fiddlerdave

    fiddlerdave Well-Known Member Past Donor

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    CEO's would sure hate to see the idea catch on!

    How would they live?
     
  7. Agent Zero

    Agent Zero New Member

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    I would raise my pay and bonuses after getting bailed out. It's the American way!
     
  8. Kranes56

    Kranes56 Banned

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    This reinds me of another story. Apparently, a CEO encouraged his employees to invest in Bernie Madoff. Well, as you know, all those people lost their money once the ponzi scheme went down. So the CEO used all his money to help make up what his employees lost. The money he used was supposed to go for his retirement.
     
  9. fiddlerdave

    fiddlerdave Well-Known Member Past Donor

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    Well,that is a very nice story! Maybe there IS a Santa Claus, Virginia!

    But do we have anything to indicate it is anything but an apocryphal fell-good urban PR legend designed to help us feel better about the latest doubling of CEO pay while laying off and cutting workers' wages spreads across the country?
     
  10. FactChecker

    FactChecker New Member

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    While I don't know of many examples of things like this, however the most well-known example was Google at the beginning of this year.

     
  11. tomfoo13ry

    tomfoo13ry Well-Known Member Past Donor

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    Hey! Is that a shot at the Cubs? ;p
     
  12. Recusant

    Recusant Active Member

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    Well, it doesn't appear to be an urban legend. Maybe if a regular newspaper would friggin' print it we'd know more. I first heard about it on a nationally televised gaming show.

    Note that the CEO salary was reasonably modest compared to many comparable companies at 'only' the "equivalent of around US $2 million". He's taking a big pay cut. Good on him.

    I've never ever heard of this kind of responsibility from an Australian or US run company. e.g. http://www.crikey.com.au/2009/08/14/the-trujillo-shambles-that-haunts-telstra/
     
  13. TheTaoOfBill

    TheTaoOfBill Well-Known Member

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    Still doesn't make me want to go out and buy a 3DS. But good move none the less.

    Honor is not a rare thing in Japan. Morality and looking out for your fellow countryman is an integral part of their culture. Sometimes I envy them. Then I watch some of their TV shows and it makes me glad to be American.
     
  14. Recusant

    Recusant Active Member

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    Same goes for their porn ;)
     

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