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(Washington Post)   Marissa Mayer's COO leaves Yahoo after making $244,000 a day, assuming he worked weekends   (washingtonpost.com) divider line 22
    More: Followup, Marissa Mayer, Yahoo, CEO, fiduciary duties, Securities and Exchange Commission, Chinese Internet  
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1266 clicks; posted to Business » on 17 Apr 2014 at 10:34 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



22 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest
 
2014-04-17 09:35:02 AM  
So since she's a female CEO do we call this a golden handjob? Or is that still when you're giving a handy and the guy pisses on your face?

Unless you are an employee or stockholder at Yahoo in which case it's roughly the same thing.
 
2014-04-17 11:07:35 AM  
I doubt Yahoo made $244k/day across its entire enterprise (as profit anyway) during that time.
 
2014-04-17 11:10:08 AM  
What a job creator he must have been!
 
2014-04-17 11:30:24 AM  
Wow.  I could have been a shiatty COO and would have only charged them half that.
 
2014-04-17 11:36:38 AM  
Yahoo's 2013 GAAP income was $590 million[1].

So this guy's severance package is about 10% of last year's profit.

Sounds reasonable.

/not really

1:  https://investor.yahoo.net/releasedetail.cfm?ReleaseID=821687
Fark can't link to the URL. Sorry.
 
2014-04-17 11:57:20 AM  
Time for a Maximum Wage law.  To protect shareholders and jobs.
 
2014-04-17 12:27:05 PM  
Marissa . . . He? Can't be bothered to find out.
 
2014-04-17 12:41:59 PM  
Farking rich arsehole. I dont have a problem when people who run a successful company(Yahoo doesnt qualify) are enjoying the higher pay that comes with that success. BUT,how about when you do a shiatty job, you get NOTHING, GOOD DAY like every other employee when they get canned. Most are lucky to get a small severence but most dont even get that.
 
2014-04-17 12:46:46 PM  
It's almost as if the officers and boards of publicly held corporations treat the corporations as if they were privately held and the personal cash cows of the boards and officers.
 
2014-04-17 12:48:31 PM  

Arthen: Marissa . . . He? Can't be bothered to find out read.

 
2014-04-17 02:40:02 PM  

BEER_ME_in_CT: Farking rich arsehole. I dont have a problem when people who run a successful company(Yahoo doesnt qualify) are enjoying the higher pay that comes with that success. BUT,how about when you do a shiatty job, you get NOTHING, GOOD DAY like every other employee when they get canned. Most are lucky to get a small severence but most dont even get that.


His compensation package was an incentive for him to jump ship at Google.  I don't necessarily have an issue with it, particularly since his earning potential at Google was likely much higher.
 
2014-04-17 03:25:05 PM  

BEER_ME_in_CT: Farking rich arsehole. I dont have a problem when people who run a successful company(Yahoo doesnt qualify) are enjoying the higher pay that comes with that success. BUT,how about when you do a shiatty job, you get NOTHING, GOOD DAY like every other employee when they get canned. Most are lucky to get a small severence but most dont even get that.


The problem with that is what do you do with a company that is declining?

The company is huge and it *was* really successful.  Now it's going downhill, losing marketshare and it's reputation.  It still has lots of assets though.  It still has a huge work force.  And the current COO is stepping down or being fired.  Whichever.

Sure, you can get some bum off the street to be the CEO.....but how do you attract the kind of talent that *might* be able to turn it around?  It's not too different from hiring for 'regular' jobs - it's always a lot easier to find a job when you have a job.  Good employees have good jobs.  They aren't looking for a new job.

Regardless of how you feel about the guy or his performance at Yahoo - he was very successful at Google.  He was their top sales executive.  At Google.  How do you convince someone like that to LEAVE GOOGLE and try to breath life into your dying company?

"Dear Super Rich and Successful Guy,

Please quit your awesome, amazing job and come work for our crappy company.  P.S.  We will only pay you if you turn the company around and make us lots of money!"

That's not an offer anyone worth having is going to take.  Even with the best effort, there is only so much a COO can do.  You're asking him to give up his incredible position and come into a failing company AND then, in the next breath, you tell him you aren't going to pay him?  What is his motivation for taking the job?  Why would he do it?

That's why these offers are so ridiculously high.  They had to make him a better deal that Google will give him and SIGNIFICANTLY more due to the associated uncertainty/risk.
 
2014-04-17 04:34:57 PM  
What does Yahoo even do?  They just have categories.
 
2014-04-17 05:42:05 PM  
I wonder if yahoo realizes that charging small businesses $299 per year for listings means exactly one thing - that no small business is going to pay a failing search engine $299 to get listed through their "priority consideration" when every MAJOR search engine lists for free and doesn't rely on the antique DMOZ listings..
 
2014-04-17 06:20:08 PM  

Fark_Guy_Rob: BEER_ME_in_CT: Farking rich arsehole. I dont have a problem when people who run a successful company(Yahoo doesnt qualify) are enjoying the higher pay that comes with that success. BUT,how about when you do a shiatty job, you get NOTHING, GOOD DAY like every other employee when they get canned. Most are lucky to get a small severence but most dont even get that.

The problem with that is what do you do with a company that is declining?

The company is huge and it *was* really successful.  Now it's going downhill, losing marketshare and it's reputation.  It still has lots of assets though.  It still has a huge work force.  And the current COO is stepping down or being fired.  Whichever.

Sure, you can get some bum off the street to be the CEO.....but how do you attract the kind of talent that *might* be able to turn it around?  It's not too different from hiring for 'regular' jobs - it's always a lot easier to find a job when you have a job.  Good employees have good jobs.  They aren't looking for a new job.

Regardless of how you feel about the guy or his performance at Yahoo - he was very successful at Google.  He was their top sales executive.  At Google.  How do you convince someone like that to LEAVE GOOGLE and try to breath life into your dying company?

"Dear Super Rich and Successful Guy,

Please quit your awesome, amazing job and come work for our crappy company.  P.S.  We will only pay you if you turn the company around and make us lots of money!"

That's not an offer anyone worth having is going to take.  Even with the best effort, there is only so much a COO can do.  You're asking him to give up his incredible position and come into a failing company AND then, in the next breath, you tell him you aren't going to pay him?  What is his motivation for taking the job?  Why would he do it?

That's why these offers are so ridiculously high.  They had to make him a better deal that Google will give him and SIGNIFICANTLY more due to the associated uncertainty/ris ...


Maybe they'll realize that it takes a lot more then one lucky rich asshole to turn around a whole company and enrich everyone involved with that daunting task instead.

Maybe.
 
2014-04-17 06:31:11 PM  
Woman Power!
 
2014-04-17 06:37:05 PM  

rdu_voyager: Yahoo's 2013 GAAP income was $590 million[1].

So this guy's severance package is about 10% of last year's profit.

Sounds reasonable.

/not really

1:  https://investor.yahoo.net/releasedetail.cfm?ReleaseID=821687
Fark can't link to the URL. Sorry.


The actual Yahoo! portion of Yahoo! is a financial basket case and is basically worthless.

However, Yahoo! also owns a portion Yahoo! Japan and Alibaba (of China), both of which are very profitable.
 
2014-04-17 08:44:45 PM  
If you all have not read it, check out "Flash Boys" by something something Michael Lewis.

If only there were an IEX for the executive suite.
 
2014-04-17 08:58:56 PM  

Geotpf: However, Yahoo! also owns a portion Yahoo! Japan and Alibaba (of China), both of which are very profitable.


This is correct. Yahoo is pervasive in Japan. My Japanese in-laws were surprised when I would go to Google to search for things. "You should use Yahoo!"
 
2014-04-17 09:52:17 PM  

BigBurrito: Geotpf: However, Yahoo! also owns a portion Yahoo! Japan and Alibaba (of China), both of which are very profitable.

This is correct. Yahoo is pervasive in Japan. My Japanese in-laws were surprised when I would go to Google to search for things. "You should use Yahoo!"


Don't the Aussies crack a fat over Marissa's URL?
 
2014-04-18 12:49:43 AM  

kregh99: Wow.  I could have been a shiatty COO and would have only charged them half that.


You have to have the gift of the gab and look good in a suit.
 
2014-04-18 07:28:01 AM  

BumpInTheNight: Fark_Guy_Rob: BEER_ME_in_CT: Farking rich arsehole. I dont have a problem when people who run a successful company(Yahoo doesnt qualify) are enjoying the higher pay that comes with that success. BUT,how about when you do a shiatty job, you get NOTHING, GOOD DAY like every other employee when they get canned. Most are lucky to get a small severence but most dont even get that.

The problem with that is what do you do with a company that is declining?

The company is huge and it *was* really successful.  Now it's going downhill, losing marketshare and it's reputation.  It still has lots of assets though.  It still has a huge work force.  And the current COO is stepping down or being fired.  Whichever.

Sure, you can get some bum off the street to be the CEO.....but how do you attract the kind of talent that *might* be able to turn it around?  It's not too different from hiring for 'regular' jobs - it's always a lot easier to find a job when you have a job.  Good employees have good jobs.  They aren't looking for a new job.

Regardless of how you feel about the guy or his performance at Yahoo - he was very successful at Google.  He was their top sales executive.  At Google.  How do you convince someone like that to LEAVE GOOGLE and try to breath life into your dying company?

"Dear Super Rich and Successful Guy,

Please quit your awesome, amazing job and come work for our crappy company.  P.S.  We will only pay you if you turn the company around and make us lots of money!"

That's not an offer anyone worth having is going to take.  Even with the best effort, there is only so much a COO can do.  You're asking him to give up his incredible position and come into a failing company AND then, in the next breath, you tell him you aren't going to pay him?  What is his motivation for taking the job?  Why would he do it?

That's why these offers are so ridiculously high.  They had to make him a better deal that Google will give him and SIGNIFICANTLY more due to the associated u ...


Maybe.

There are plenty of counter-examples of one pivotal person coming into a failing company and turning it around.  Heck, you can use an extreme example and look at Michael Jordan and his affect on the Nike brand.  Had you taken the endorsement deal away and redistributed that spending to 'everyone' at Nike - would the company have been as successful?  I doubt it.  I'm personally not a fan of the guy, but look at Steve Jobs.  As much as there were lots of other talented people working at Apple, as much he was a dick, I can't argue that I can see any alternative universe where Apple would be more successful without him.  Getting rid of Steve Jobs and paying every other employee more wouldn't have done it, IMHO.
 
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