• Steven Roy

What am I Missing Here?

Who says executive salaries are out of control? Most recent atrocity: One of the companies we follow (in the Electric Vehicle subsegment) just released its 2020 operating results and officer salaries: The Highlights Total Revenue -- $95,000 (no you aren't reading that wrong). -- Down from a whopping $432,000 in 2019. Net Income from Operations -- a loss of $398 Million ($397,700,000) "Performance Incentives" granted to senior executives -- $567 Million ($567,000,000) -- That $567 Million includes $159 Million to a senior executive who no longer works for the company - and is facing civil action for things he did while he was there - as is the company! Meanwhile, the company's stock lost 81% of it's value. The company said the stock awards represented the fair value of restricted stock unit awards and market-based performance restricted stock unit awards computed as of the grant date of the awards, rather than amounts paid to the individual. Well - thank goodness for that, anyway... But why don't I see the value proposition here???

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