Priceline Execs Getting Lots Of Money
from the the-big-picture-is-they-want-to-get-rich dept
A good article taking Priceline execs to task for huge payouts and forgiving loans to executives. The company claims they did so to retain top talent. This is the same top talent that drove the company into the ground. I have no problem with compensating execs well when they do a good job, but I don’t see how a company that is struggling and shuttering parts of its business can give its chief marketing office a $1.4 million bonus. Update: Here’s another article with more details of the deals Priceline made including this great quote from a compensation expert: “It’s a very unique skill to be able to drive a stock price down 97 percent in a year, but it’s not a skill that I think would be very much in demand by stockholders. I don’t understand why they wouldn’t fire the whole lot of them.”
