backtop


Print 34 comment(s) - last by The Raven.. on Oct 4 at 5:29 PM


Kin was an epic fail after only two months on the market  (Source: Microsoft)
Bonus was half what it could have been

There have been many epic failures in the tech world over the years. One of the most recent failures came from Microsoft in the form of the Kin mobile phones. Consumers stayed away from the Kin in droves and Microsoft quickly pulled the plug.

“You've got to be bold, you've got to look forward and you've got to stay focused,” noted Microsoft CEO Steve Ballmer in a recent interview. “Kin was neither -- with 20-20 hindsight -- bold enough relative to where the market's going, and it just defocused activity from Windows Phone."

Ballmer may have piloted Microsoft to its best year ever, but the missteps by the company cost Ballmer. Ballmer reportedly made his yearly bonus, but the bonus was half what it could have been.

Ballmer received a bonus equal to his entire yearly salary amounting to $670,000. That is certainly a massive bonus by most accounts. However, the proxy filing by Microsoft cited the reasons for Ballmer not getting his full bonus were "unsuccessful launch of the Kin phone, loss of market share in the company's mobile phone business, and the need for the company to pursue innovations to take advantage of new form factors."

Ballmer could have received no bonus at all, so not all was lost. The total pay that Ballmer took home for fiscal 2010 totaled $1.34 million. 
Reuters reports that Ballmer has 408 million shares of Microsoft for 4.7% of the company estimated to be worth about $10 billion.

Forbes lists Ballmer as the 16th richest person in America.



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: Reasonable???
By The Raven on 10/1/2010 2:23:03 PM , Rating: 2
Those are good points. I guess I'm just a work what you're paid for kind of guy. For example, I hate the tipping system.

So in theory, I would like Balmer's set up if everyone who performed equally in accordance with their contracted salary also got the same treatment. But I doubt there are people who work just as hard for $50k getting 100k bonuses. I only hear about this stuff from the CEOs. And I'm not condeming them. Its their company; they can do whatever they want. I'm just thinking that this doesn't make sense.


"I'd be pissed too, but you didn't have to go all Minority Report on his ass!" -- Jon Stewart on police raiding Gizmodo editor Jason Chen's home














botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki