Pay for Performance? Hah!

This morning, I noticed an article posted on printceo.com, and, after I make a couple of wise-guy comments, I’m going to give you the link to that article.

This is the title of that article:

“Investor firm petitions for sale or turnaround at Kodak”

In the article, it says that Kodak’s CEO’s compensation has “averaged” approximately $6.5 million over the past 5 years. That's right, I said $6.5 million!

I went to Google Finance, right after I read the above-mentioned article, and found that, over just the past four years, Kodak’s sales have declined by around 30% and have declined sequentially each year. On the “operating income” and “net income” lines, all I see is “red ink.”

So, in the spirit of the phrase, “pay for performance,” what’s up at Kodak? Heck, I’d take the CEO job at Kodak for only $50k a year, provided my “perq” package includes HEALTH INSURANCE coverage!

I’d probably not make any brighter decisions than Kodak’s current CEO has been making, but, at the very least, some of the red ink would go away, even if only because they’d be paying me a LOT LESS than the current CEO is earning.

Here’s the link to that article:

http://printceo.com/2011/03/investor-firm-petitions-for-kodak-turnaround/