Sprint Nextel Executives Top List Of Most Overpaid

Reuters:

An investor advisory firm has deemed Sprint Nextel Corp executives the most overpaid in corporate America, with top managers awarded pay valued at nearly $74 million last year when the company struggled.

The mobile communications service provider had the worst 2007 pay-for-performance rating among the Standard & Poor's 500 index of large companies, Glass Lewis & Co said in a study released this week.

Read the whole story: Reuters

Comments

[PacificGatePost]

THE MOST IMPORTANT LETTER ALL CEO’s SHOULD RECEIVE

A NEEDED FIX IN ALL BOARD ROOMS

Isn't it time the system went in for some much needed repair?

Due diligence and oversight long ago slid out the window. No one was watching.

Time to do something about it.

Here's a huge one they all missed.... The dramatic change that swept through all of North America's boardrooms over the past 30 years. It is one of the underlying causes of the headache the economy is now feeling, but more importantly, it has resulted in the general feeling of "disconnect" by most Americans.

"WE THE SHAREHOLDERS OF YOUR COMPANIES.­.....

http://pacificgatepost.blogspot.com/2008/03/letter-to-ceos-of-fortune-1000-cos.html

[prana1]

You have to remember that the reason these numbers are so high is because they still had their outgoing CEO Gary Forsee on the book as well as several other top execs that they gave the boot for running the company into the ground. If you factor those out, Sprint doesn't make this list. They areally are trying to turn it around.

[KCFreedom]

And then Gary Forsee gets rewarded with a huge golden parachute and gets a job as the Chancellor for the Univ. Of Missouri. Just waiting for the university to outsource everything, layoff most of the staff, bring in more foreigners, then eventually go down the tubes.

[darthdarcy]

Really gee; it would be nice if they paid Levon Helm for using his voice on there ads 100,000 or more times...

[KCFreedom]

At what cost?

Sprint has layed off thousands of workers over the last 6 or so years, outsourced everything that can't be bolted down, and has been hit with multiple lawsuits over firing practices, such as age discrimination. I've heard that anyone over 40 years old is a layoff target there, and they're all shivering in their boots.

All the while, the executives have been looting the company, for all the "wonderful" things they've done there. They've lost many customers and their customer service is a joke. Billing errors are rampant.

A poster child for what's wrong with Korporate Amerika.

[jimgilliamv2]

Shareholders in these companies are to blame to these absurd excesses. The US should have laws like Germany that limit CEO pay to approximately ten times the lowest paid person in the company.

[JScott]

Good response to that excuse that you need to pay thru the nose for talent to be successful.
Actually Germany has the biggest economy in Europe. So it's not necessarly true.

[vippy]

And SPRINT laid off the most workers and they have the worst of the worst customer service.
One gets absolutely nothing accomplished when speaking to them. That reminds me, I have to
cancel my home service.

[SgtLucifer]

"Sprint Nextel Executives Top List Of Most Overpaid"
--- Thanks to suckers like me who pay monthly, religiously, for crummy services on 2-yr ($150 cancellation fee) contracts.

[Jezdukowski]

Yeah, just this week tried to cancel my crappy wireless internet service - fee is now $200. F*&% 'em, I'm just not paying the bill anymore, and sprint can go to he11.