Peter Kafka

Recent Posts by Peter Kafka

Google Rewards Execs for a Job Sort Of Well Done

Wall Street bonuses have shrunk, but they haven’t gone away. And at Google (GOOG), top executive bonuses look pretty much like last year’s. Here’s the payout for a handful of the search company’s top brass, via a document filing with the SEC this morning:

Robert A. Eustace, SVP Engineering & Research: $1,376,000

Omid Kordestani, SVP Global Sales & Business Development: $1,376,000

Patrick Pichette, CFO: $1,244,000

George Reyes, former CFO: $675,000

Jonathan Rosenberg, SVP Product Management: $1,638,000

Larry Page, Sergey Brin, Eric Schmidt: $0

All fine payouts, to be sure (Larry, Sergey and Eric never take a cash bonus). But for the record, note that these do represent a small tick down from last year, when Eustace, Kordestani, Reyes and Rosenberg each got cash bonuses of $1,683,606. Then again, a year ago, GOOG was trading at $471; this morning it’s at $327 and change.

We should get full compensation info–including how much execs received as base salary and how much they got via stock grants and options awards–within the month when Google releases its annual proxy statement.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work