Intel CEO "worth" 123.6 teachers
Here's today's Red Electric episode on "This American Life."
Today's Oregonian brings news that Intel's CEO Paul Otellini was "penalized" monetarily last year for the company's poor financial performance and for not meeting goals. In 2006, net income for Intel was down 42 percent over 2005.
Being "penalized" meant that in 2206 Otellini eked by on a mere $6.18 million in compensation. The AP story demonstrates the utter cruelty of Intel's decision by comparing Otellini's pittance to the $16.1 million raked in by CEO Hector Ruiz of Advanced Micro Devices.
The connection? AMD is Intel's chief rival.
Oh.
Now for the real comparison beyond the corporate bubble of competitive CEO "worth."
If you take Otellini's pauper's salary and divide it by $50,000, the wage a school district might pay a moderately experienced school teacher, you discover that Otellini, by American society's twisted market standard, is "worth" 123.6 teachers. Count slowly to 123 to get a full sense of the number. "One teacher...two teacher...etc."
Consider that 123 teachers are probably enough to staff five or six neighborhood elementary schools in Portland. You know, just like the ones the Portland School District has been closing.
Do the numbers on Ruiz's grotesque AMD compensation and you could probably throw in teachers for a couple of middle schools and a high school, as well as custodians to clean up after the kids.
Meanwhile, back at Intel and AMD, as they crunch the performance numbers and compare salaries, do Otellini, Ruiz and their compensation committee members ever weigh the debt—educational or financial—they owe teachers who helped them in their own lives?
One more note: Deep in The Oregonian story we get one more insight into Intel: Last September Intel's executives, while wringing their hands over up-coming compensation "penalties," announced they were eliminating 10,500 jobs world-wide.
I've raised this before, but it bears repeating: Let's hope that one day (soon!) folks will look back at this time as a shameful aberration—that they will have ensured that such greed and inequity will never happen again.
Today's Oregonian brings news that Intel's CEO Paul Otellini was "penalized" monetarily last year for the company's poor financial performance and for not meeting goals. In 2006, net income for Intel was down 42 percent over 2005.
Being "penalized" meant that in 2206 Otellini eked by on a mere $6.18 million in compensation. The AP story demonstrates the utter cruelty of Intel's decision by comparing Otellini's pittance to the $16.1 million raked in by CEO Hector Ruiz of Advanced Micro Devices.
The connection? AMD is Intel's chief rival.
Oh.
Now for the real comparison beyond the corporate bubble of competitive CEO "worth."
If you take Otellini's pauper's salary and divide it by $50,000, the wage a school district might pay a moderately experienced school teacher, you discover that Otellini, by American society's twisted market standard, is "worth" 123.6 teachers. Count slowly to 123 to get a full sense of the number. "One teacher...two teacher...etc."
Consider that 123 teachers are probably enough to staff five or six neighborhood elementary schools in Portland. You know, just like the ones the Portland School District has been closing.
Do the numbers on Ruiz's grotesque AMD compensation and you could probably throw in teachers for a couple of middle schools and a high school, as well as custodians to clean up after the kids.
Meanwhile, back at Intel and AMD, as they crunch the performance numbers and compare salaries, do Otellini, Ruiz and their compensation committee members ever weigh the debt—educational or financial—they owe teachers who helped them in their own lives?
One more note: Deep in The Oregonian story we get one more insight into Intel: Last September Intel's executives, while wringing their hands over up-coming compensation "penalties," announced they were eliminating 10,500 jobs world-wide.
I've raised this before, but it bears repeating: Let's hope that one day (soon!) folks will look back at this time as a shameful aberration—that they will have ensured that such greed and inequity will never happen again.
Labels: AMD, executive compensation, inequity, Intel, The Oregonian
posted by Rick Seifert at
1:44 PM
4 Comments
