Rory Read still making bank

[Arachnotronic]

Another interesting tidbit from the filing reveals that Michael Dell’s four immediate underlings all received more than the big man himself in the last year. Rory Read, chief integration officer at Dell, was the best paid of all the company’s execs, raking in $10.5 million over the last year.

http://siliconangle.com/blog/2016/0...package-cut-by-11m-ahead-of-emc-acquisition/?

Dude gets the boot from AMD, gets massive golden parachute from AMD, and then goes to work for Dell where he rakes in a ton more money.

This guy knows how to make $$$...

 

[Burpo]

Bill Gates knows how to make money.. Rory's an amateur

"In school he bragged to his teachers that he would be a millionaire by the time he was 30; he was a billionaire by 31."

"With a worth of $72 billion, a 6% rate of return would earn Gates roughly $114.16 per second he is alive, making it a poor investment for Bill Gates to bother picking up a $100 bill if he dropped it. "

http://mic.com/articles/45397/10-ridiculous-facts-about-how-rich-bill-gates-is#.mf00YtyXQ

And that's an old article.. No. ! again in 2016..

http://www.forbes.com/billionaires/

 

[ShintaiDK]

I sure hope he does better than at AMD. But no person on earth is worth that much, no matter what they think or do.

 

[redzo]

http://siliconangle.com/blog/2016/0...package-cut-by-11m-ahead-of-emc-acquisition/?

Dude gets the boot from AMD, gets massive golden parachute from AMD, and then goes to work for Dell where he rakes in a ton more money.

This guy knows how to make $$$...

AMD does not seem like a good company where you would get qualified managers from to begin with. Well... Good for him, I guess. It's about time people get to know how guys like him make 6-figure.

 

[DrMrLordX]

Dude gets the boot from AMD, gets massive golden parachute from AMD, and then goes to work for Dell where he rakes in a ton more money.

This guy knows how to make $$$...

Par for the course. The executive treadmill is never-ending. Once you are a big dog, you can do no wrong. Too big to fail.

 

[Azuma Hazuki]

That's not a technical issue, though; it's a legal issue.

And since the courts and goverment are bought and paid for, the only way this is going to change is if we drag a few of the greedheads out of their mansions and burn them alive, making sure to capture their final moments of screaming, writhing agony on national TV to send a message.

However, since no one seems to have the guts to do this, we're stuck

 

[dogen1]

That's not a technical issue, though; it's a legal issue.

And since the courts and goverment are bought and paid for, the only way this is going to change is if we drag a few of the greedheads out of their mansions and burn them alive, making sure to capture their final moments of screaming, writhing agony on national TV to send a message.

However, since no one seems to have the guts to do this, we're stuck

You want to burn people alive for getting paid a certain amount?


Why shouldn't dell pay him that much if they want too?

 

[chrisjames61]

You want to burn people alive for getting paid a certain amount?


Why shouldn't dell pay him that much if they want too?

So the fact that 60 people who are alive today control more than 50% of the entire wealth on this planet of 7 billion people is ok? You think that is acceptable? I certainly don't.

 

[Madpacket]

Golden parachute syndrome. Once your CxO level this is how it works. So many companies failed where the CEO is then kicked out by the shareholders, usually taking a pile of money with them for contractual reasons. It's a disgusting system where failure is effectively promoted while company wide layoffs usually starting with the people who need the jobs the most.

Corporations...

At least Dell is privately owned again which changes how the above scenario normally plays out. Still agree no one should be paid 10 million dollars a year.


https://www.youtube.com/watch?v=ymY6y6o6PAo

 

[Hitman928]

So the fact that 60 people who are alive today control more than 50% of the entire wealth on this planet of 7 billion people is ok? You think that is acceptable? I certainly don't.

I don't know if that adds up, do you have a link to this statistic?

 

[NTMBK]

So the fact that 60 people who are alive today control more than 50% of the entire wealth on this planet of 7 billion people is ok? You think that is acceptable? I certainly don't.

Acceptable? No. Just cause for a lynch mob? Hardly.

Good on Mr Read, I guess. Hope Dell get value for money.

 

[dogen1]

So the fact that 60 people who are alive today control more than 50% of the entire wealth on this planet of 7 billion people is ok? You think that is acceptable? I certainly don't.

I was talking about Dell. They should be free to pay anyone as much as they want to.

 

[Adored]

Wasn't Read responsible for the semi-custom business that has basically kept AMD afloat for the past 3 years?

 

[DrMrLordX]

Good on Mr Read, I guess. Hope Dell get value for money.

Probably not. What nobody wants to discuss - or even find out - is how little a sizable corporation could pay its chief executive and still expect adequate helmsmanship. We already know that you can pay a CEO millions upon millions in pay and other forms of compensation and get crap results. In those circumstances, an empty seat with no pay would suffice. Could you get a competent CEO for $200k per year?

Executive positions are the final frontier in the race to the bottom. Eventually the CxO Club will have to start shedding pay as shareholders - public and private - demand more cost-cutting.

Wasn't Read responsible for the semi-custom business that has basically kept AMD afloat for the past 3 years?

He still got axed. Maybe it wasn't fair? It's hard to cry too much for people from the executives club when they get their golden parachutes. Not that, you know, it would make sense to just burn the people alive, but still.

 

[Adored]

He still got axed. Maybe it wasn't fair? It's hard to cry too much for people from the executives club when they get their golden parachutes.

Tbh it can't be an easy job at AMD having to rely on Bulldozer and its derivatives but he did basically save the whole company with semi-custom.

Seamicro might have been what cost him his job, but that one could still be to play out depending on what tech and IP AMD got out of it in the end.

But yeah obviously these people get paid an awful lot of money. Is it any worse than sports stars? Hard to say.

 

[DrMrLordX]

Seamicro was a mess, and HSA was his baby (more or less) which has not yet panned out. Kaveri was a total miss compared to what it could have been with HSA.

 

[myocardia]

Still agree no one should be paid 10 million dollars a year.

I don't think that there should be any specific number that a person is allowed to be paid. I think the maximum a top executive should be paid should be based upon the lowest paid employees' compensation. For instance, somewhere between 500% and 1000% of the lowest paid employee.

This would also include bonuses, of course. Before you can receive a $5 million yearly bonus, all employees making less than you have to also get a bonus, for 10-20% of the bonus you will receive. Want higher pay? Fine, for every percent that your salary rises, all other employees' salaries will rise by the same percent.

 

[mysticjbyrd]

I don't think that there should be any specific number that a person is allowed to be paid. I think the maximum a top executive should be paid should be based upon the lowest paid employees' compensation. For instance, somewhere between 500% and 1000% of the lowest paid employee.

This would also include bonuses, of course. Before you can receive a $5 million yearly bonus, all employees making less than you have to also get a bonus, for 10-20% of the bonus you will receive. Want higher pay? Fine, for every percent that your salary rises, all other employees' salaries will rise by the same percent.

No one is worth millions of dollars, I don't care what they do. The captain isn't the only person on the boat that's responsible for the success of the team.

Just as there is a minimum wage to hinder greed, there needs to be a maximum wage.

 

[DrMrLordX]

Maximum wage doesn't make a lot of sense. Think of it this way:

In order for a company to benefit from an employee, the employee must (overall) add more value to the process than they receive in compensation. So, for example, a worker making $20k gross yearly should add . . . I don't know, $30000-$40000 or more to the process to justify them working there. Of course, in real dollars, it costs far more to employ a $20k employee. You have payroll taxes, training costs, mandatory health insurance options, etc. So maybe the $20k employee costs $30-$40k just to employ, meaning they need to bring in $50k or more of value during the course of a year's work to be "worth it" for the employer. Otherwise, there's no purpose in making the hire. It just doesn't work.

Realistically speaking, the same should apply even to executives. If the CEO is also the owner then obviously he's going to walk off with all the profits. But the CEO of a publicly-traded company with a board of shareholders is not in that position. So if a CEO wants $10 mil annually in total compensation, then he should somehow bring more - much more - than $10 mil in value to the company. Can any CEO really justify that? By what metric does one make that determination? Hard to say.

But if someone came in and brought the company tens of millions in profits with some brilliant new idea or strategy, then yeah, it isn't outside the realm of the reasonable to assume that said someone deserves an eight figure salary, at least for that one year.

 

[myocardia]

Just as there is a minimum wage to hinder greed, there needs to be a maximum wage.

Yes, there should, and it should be based upon the salary of the lowest-paid employee of that business.

 

[ShintaiDK]

Yes, there should, and it should be based upon the salary of the lowest-paid employee of that business.

+1 :thumbsup:

It seems the upper limit is around 30x before capitalism and production economy suffers.

 

[Aristotelian]

No one is worth millions of dollars, I don't care what they do. The captain isn't the only person on the boat that's responsible for the success of the team.

Just as there is a minimum wage to hinder greed, there needs to be a maximum wage.

Of course there are people worth millions of dollars in salary per year. Those people I am referring to are responsible for generating millions of dollars for the company they work for. I'm referring to sports franchises, and certain positions in some banks. I am not saying that a figurehead executive spokesperson is necessarily worth this - but some positions generate massive income, and they should be rewarded appropriately.

I remember reading a case study way back in school about a meeting between some American auto makers who met japanese counterparts where the debate was about lower priced, reliable, japanese imports, and how those imports to the states were causing the American auto industry to suffer. And the japanese executive response was something like "one of you american CEOs earns more than all of us put together". I am against figurehead positions under the guise of 'head' or 'management' getting that kind of salary, but to be clear: some people are worth millions per year because that's how much value they bring to the company/franchise/whatever in the work that they do.

So, in the IT framework - I guess what I'm saying is if there are genius design moves made by some EE somewhere, or the team, they should be rewarded in a heavy way. Not the PR and Head posts above them, but the people who are worth the sort of revenue they generate through their work.

 

[Adored]

So, in the IT framework - I guess what I'm saying is if there are genius design moves made by some EE somewhere, or the team, they should be rewarded in a heavy way. Not the PR and Head posts above them, but the people who are worth the sort of revenue they generate through their work.

Of course the head people above the geniuses will claim it was their idea to bring the best people in, so they are worth it.

It's a complex topic really. You have to say that Read was worth every penny at AMD simply because we can see an obvious case where he saved the company. Can't put a price on that.

If Zen delivers we can maybe look at Jim Keller again and say he was worth whatever large salary he was getting.

Looking at some others higher up at AMD now it's hard to see how they can justify their bonuses based on current results, but most of them aren't responsible for Bulldozer or even GCN.

 

[Vortex6700]

Wow, you people really like handing more authority and responsibility to your government.

That usually works out, right?

 

[Headfoot]

Wow, you people really like handing more authority and responsibility to your government.

That usually works out, right?

Always the same drum getting beaten. More laws, more laws, more laws. You all realize the US has the most people in prison of any state in the world, in the history of the world, right? More laws is definitely what we need... right.

The same people that tell you how much they hate lawyers somehow still love passing ever more laws. The same people that complain about police abuse love passing yet more laws under which the police claim authority to abuse. Or regulators, bully pulpits of all flavors.