In an SEC filing, salaries of top Cumulus brass were made public for shareholders to see.
The salaries run through 2014 and do not include incentive bonuses. CEO Lew Dickey will make $1.4 million per year. His brother and co-chief operating officer John Dickey will be paid $875K.
John Pinch, executive vice president and co-chief operating officer will receive $775K. General counsel and secretary Rich Denning will be paid $500K and treasurer and CFO Joseph Hannan will receive $550K.
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And Bill( Nazi1) Bungerhole and Lee (Nazi2) Hammer?.
ReplyDeleteThat whole company's execs must be making a fortune for that Reputation.net company that sleasizly erases people's honest opinions about those slaseballs.
So what you are saying is that the 9-12 guy earns more in salary than the CFO and CEO.
ReplyDeleteGeez get over it already. If this was your company your job and your money would you continue a business that is losing money? If you wanted to keep all of those has been employed you should have gone and bought from all the sponsors on KGO. If you did not then you have no one to blame but yourself.
ReplyDeleteDecember 5, 2011 3:42 PM --- Lou, is that you?
ReplyDeletepoor Lew only received a mere bonus of $939,960 last year. the sacrifices he makes for the good of his company. admirable.
ReplyDeleteYEAH,342 Is right Lew Dickey is doing everything in the BEST interest of the company and employees future. It's not about him or greed. Lew is a America loving Republican,who would never be that way.
ReplyDeleteYou stupid people.
I could get by on half that...
ReplyDeletePlenty of legit stuff to criticize Cumulus execs for, but CEO comp is not one of them. Before CEO salaries zoomed to more than 400 times average pay corporate America, the standard was more like 40X. Well, $1.4 million divided by 40 is $35k. So, $1.4 mil does not seem excessive. JW
ReplyDeleteEmbarrassing! Shameful!
ReplyDeleteWe live in a society that's all about ME.
No wonder the 99 percenters are PO'd.
It's almost 2012. Get the hint...
I am 342 and let me follow up to all that complain. Go get a job work your ass off have connections or step on a lot of people on the way up and you too can have the big bucks. If I were the head of Cumulus...would I lose sleep right now probably, seems a mistake was made in over compensating.
ReplyDeleteBut did drastic changes have to be made...DUH!!! KGO is stale and was getting staler by the moment. Owens is gone as soon as one of three things happen, he quits, gets bought out(personally I think sooner) or he drops dead(Not wishing that) but honestly it is about making money.
Businesses that lose money cease to exist. So if KGO kept going the way it was and then went totally silent what would you do? Really what would you do?
As Rich has said, you want to keep something going, you buy from the advertisers, you tell them every time you buy from them you say I am here because of KGO. If you do that they will advertise and hey if business is that good you will get more money. Superior product gets superior money.
I swear I wonder if all of you that complain about this have ever gone to school, run a business or worked for a business that was here to make money?
Economics dictated change, I personally could only listen to Owens and even then I was listening less and less. His repetitiveness has totally turned me off. I listen more to KGO until I have heard every story twice and then to KFOG although that is less because they changed that format too. SO what do I have in my car and home when I drive....an IPOD. ROFL!!!
All of you that have lamented the death of Steve Jobs....he is what started the end of free radio....
One more things you drones...politics has ABSOLUTELY NOTHING TO DO WITH THE FIRINGS AT KGO!!! This was business. Wake up this is 2011 not 19 something....Jobs are here for a time being and as long as the company does well you keep your job. If the company does not perform your company and job go bye bye. Guess what the station sucked because they were employing old men who quite frankly did not match the advertising demographic.
ReplyDeleteI mean you all can't be that simple minded.
Wait tell you what and this is even better...why don't you all that are so pissed off and hurt over this, an american company trying to stay alive....pool your money....rent space in the bay area....hire your has been's back...find a staff to run the station....spend the money to buy the frequency....get approval from the government to run the station and make a go of it and quite frankly spend the money to keep it running...because it will be running at a loss for years....how long will you pay to keep it running in the red? ROFL....simpletons...
"an american company trying to stay alive"...that's a laugher. If you did your research, or even just read Rich's blog you'd see this company took over from Citadel in Sept, shifted their SF stations to their AR Broadcasting Holdings group, and promptly filed for bankruptcy in mid-November. This is NOT a broadcasting company, this is an elaborate shell game that has ZERO to with the product, radio, or serving the community certainly. It has no concern for the people that work for them. It has everything to do with shifting money around to benefit shareholders and an elite few. The worst kind of capitalism.
ReplyDeleteWhile KGO ratings may have sagged some, it was still a money maker and not the disaster you're outlining. Ronn still did (does)well and Len was #1 in his slot for instance. They could have easily freshened the format and trimmed some fat without the brutality and stupidity witnessed on Thursday.
342 - get over yourself, and hurry. thanks!
ReplyDeleteIf they earned that by contributing a product or service to the public that was worthy, I'd say "good for them!". If they developed a new medicine that helped people, even more would I say "they EARNED it!".
ReplyDeleteThese parasitic scum are the sort of entities that give the crazy Marxist/Stalinist/Maoist types ammunition. This sort or corporatist filth needs to be sent packing. Our once great nation has been sold out to oligarchs.
Who won the fucking Cold War anyhow? Looks like China did, while the (former—ha! with Putin?) USSR and USA aren't very different from each anymore.
3:42, etc.
ReplyDeleteSomeday you will meet your come-uppance.
Frankly, you seem like a character from a Rod Serling teleplay. You might want to look at the current situation and tell us all how easy it is to "get a job" these days...
Asshole...