“CEO to receive stock grants worth $100Million according to WSJ”. I thought we learned our lesson from the last greedy ceo. Board should be ashamed, layoffs happening to good people everyday and this type of payday. What long term value has been created to warrant this payday...short term stock movement not the same as building a great company for all employees.
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Larry must be bad at spending money if he really needs that much.
once the $25 BILLION comes in from GECAS sale the $50million will be peanuts. they are spending more than Culp's compensation & benefits to get it done and he and his cronies will be well rewarded.
Board should be concerned about long-term value creation or we end up right back where we were when the last ceo and board destroyed value. Shareholder value is either created or destroyed. I could care a less about your argument around socialism. That isn’t the point, neither is the ratio of ceo to worker pay the issue is that as a shareholder they gave away $100M OF OUR MONEY AND WE DESERVE TO UNDERSTAND WHAT LONG-TERM VALUE WAS CREATED.
Yes on the $58 an hr as a hourly service engineer in GEHC. Not BS.
@3rgr – How on earth is this socialism? It's capitalism, with a bit of American excess thrown in for good measure. The ratio of CEO pay to that of the average U.S. worker has been increasing steadily for more than 40 years. https://www.epi.org/publication/ceo-compensation-2018/
Why the he*ll would the BofD be concerned with layoffs. Their job is to maximize shareholder value. This isn't socialist Europe!
We should be happy for another man's good fortune. 😉
https://www.masslive.com/business/2021/03/ge-ceo-larry-culps-pay-package-was-1350-times-bigger-than-typical-workers.html
Sounds almost like a reverse split to me split/layoff the workers and reverse their wages to the CEO.
@noa+19PFEYhV, $ 58/hour is BS unless your adding in benefits in to stroke your ego or your salaried and converting your salary to per hour in which case you should be fired for even thinking like that.
The incentive for the board is to make money for the board of directors including LC. It doesn't matter to them if we get hurt or the golden goose dies un the process as long as they get their eggs. Greed of the top management knows no bounds. Ask them what they want and the answer is always more. Meanwhile they pay for even the most skilled and valuable employees continues to be frozen and decline in real terms. The only way to keep your head above the rising tide is to MOVE ON.
Lay off enough small groups of people without drawing much attention to make numbers better, while it pays out the realized savings to the CEO.
It's the part of the business model that actually works for the C Suite !
Good for Larry.
Stock price had to hit a couple of milestones as qualifier for bonus, thats how CEO Contract language was written !
Does not matter what games and manipulation take place to get there.
Just get the share price above $11.
So at $11 and above Bonus achieved !
I make $58. Per hour, I dont get a bonus, I may get to keep my job ?