Circuit City Rewards Execs As Stock Tanks

jamie tipped us to Dean Baker's Beat the Press blog, where Baker comments on a followup to Circuit City's firing of all its highest-paid salespeople last March (Slashdot discussion here). Circuit City's stock has cratered in the meanwhile, and their response has been to offer $1 million retention bonuses to executive VPs. Baker points out that each one of these bonuses represents 35 years' salary for one of the fired salespeople.

Comments

35 years salary?

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... firing of all its highest-paid salespeople ... offer $1 million retention bonuses to executive VPs. Baker points out that each one of these bonuses represents 35 years' salary for one of the fired salespeople. So their highest paid salespeople made just under $30K a year? If highest-paid == best producing, they can easily command a lot more than that elsewhere.