Monthly Archives: May 2011
Reuters – Tesco, the world’s third-biggest retailer, is simplifying its executive pay scheme and cutting the base salary of its chief executive as it seeks to end rows with shareholders over how it pays its leaders. The British group, which saw 47 percent of shareholders either vote against or abstain in a vote over executive pay last July, said on Tuesday it expected the new pay scheme would deliver broadly the same level of rewards as before. However, it said the scheme was simpler and, particularly in the case of the chief executive’s package, more focussed on performance-related elements than fixed payments. New boss Phil Clarke will receive a base salary of 1.1 million pounds, down from the 1.4 million received by his predecessor Terry Leahy, who retired in March.
Strange Random Salary Quote:
- Tesco shakes up executives’ pay (mirror.co.uk)
- Tesco unveils overhaul of executive pay (independent.co.uk)
- Anger as chief executive pay jumps 32pc (telegraph.co.uk)
- Back in the green: CEO pay jumps 13 per cent (theglobeandmail.com)
- British executive pay triples, Canada up as well (americablog.com)
- Tesco appoints Sir Richard Broadbent as new chairman (telegraph.co.uk)
Forget free iPads, stock options and the other perks Internet companies dangle in front of prospective hires. In the technology industry‘s ongoing war for talent, Google, Facebook and a handful of deep-pocketed firms are using a more potent weapon to get the best engineers: the “acqui-hire.” An “acqui-hire” is when a company buys a startup to obtain the startup’s team, rather than to own its products or technology, which it often kills after the purchase. In the past year, the venture capital flowing into the tech startup space has spawned a wave of small companies that is siphoning talent away from larger Internet firms.
Faced with a shortage of engineers, large firms are going on startup buying-sprees and using the founders and engineers they pick up to fill high-level positions.
Strange Random Hiring Quote:
“Hire people who are better than you are, then leave them to get on with it . . . look for people who will aim for the remarkable, who will not settle for the routine.” — David Ogilvy
- The acqui-tail (gabrielweinberg.com)
- 13 Startups Facebook Acqui-Hired For Millions Of Dollars (businessinsider.com)
- Facebook Exec Canned For Insider Trading Lands Similar Gig At Twitter (businessinsider.com)
- Google’s Perennial Hiring “Problem” — The SAIcast Discuss (businessinsider.com)
- Zynga Makes 14 Acquisitions in 12 Months (mashable.com)
- Sequoia defends its infamous “RIP Good Times” presentation (venturebeat.com)
Watch Street Signs – Season 2011, Episode 0526 – Lifestyles of the Rich and Indicted: A look at how wealthy crime defendants live while awaiting trial, with Dolly Lenz,…
Vodpod videos no longer available.
Strange Random Luxury Quote:
“It was luxuries like air conditioning that brought down the Roman Empire. With air conditioning their windows were shut, they couldn’t hear the barbarians coming.” – Garrison Keillor (American writer and broadcaster b.1942)
- City bonuses help Ronson sell 175 luxury flats (independent.co.uk)
- The News Matrix: Friday 27 May 2011 (independent.co.uk)
- TV Islamic extremist who hates Britain enjoys £1,250-a-month benefits and rent-free luxury flat (dailymail.co.uk)
- China super rich set to propel luxury yacht sales (usatoday.com)
- Pendragon profits in luxury sector (autonetinsurance.co.uk)