Wednesday, April 15, 2015

Salary Drop?

Yes, Virginia. Once in a while, it happens.

Members of the DreamWorks Animation board would have had a lot of explaining to do if they had awarded execs big raises in a year when revenues fell, the company lost money and the stock price dropped 37.1%. But that didn’t happen this time, according to the company proxy just filed at the SEC: CEO Jeffrey Katzenberg’s compensation came to $6.4 million. It’s a steep drop from 2013, which included $6 million in non-equity incentives, but is more than he made in 2012 ($5.2 million) and 2011 ($4 million). ...

Jeffrey has made good money at DWA, and more power to him. He was the junior partner when DreamWorks started twenty years ago, running the animation part of the company. But, funny thing, the cartoons have been the most viable part of the company.

Mr. Spielberg has gone back to running a lot his professional life through Amblin' Entertainment at Universal, and David Geffen has semi-retired with his billions on the Malibu beach. Jeffrey soldiers on in Glendale, but it's useful to remember that the foundation of his fortune comes courtesy of his lawsuit against Disney and Michael Eisner, which gained him a reputed $250 million.

It's good to be a mogul. Even a smaller one.


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