Charles Ergen Pay Drops By 92.5%

[wallyhts]

(WSJ 4/1/10 Joann S. Lublin)

"Charles Ergen, CEO and founder of Dish Network Corp earned the distinction of having the hardest drop in pay, He drew a $623,100 salary that was 92.5% lower than his 2008 total compensation, even though the company stock doubled."

Wonder if Echostar made up the difference?

 

[cpdretired]

Should we take up a collection for Charlie?

http://www.forbes.com/lists/2008/10/billionaires08_Charles-Ergen_FXHG.html

 

[DIRANONI]

http://online.wsj.com/article/SB100...870.html?mod=WSJ_business_LeadStoryCollection

Real-Time Snapshot:

04/01/2010 10:12 AM EDT

21.13
Change
0.31 % Change

1.49%

 

[wallyhts]

Should we take up a collection for Charlie?

http://www.forbes.com/lists/2008/10/billionaires08_Charles-Ergen_FXHG.html

NO!!!

 

[ryotgz]

Only $623k? Oh no. He might now be able to afford that new unicorn with that kind of pay....

 

[nlk10010]

(WSJ 4/1/10 Joann S. Lublin)

"Charles Ergen, CEO and founder of Dish Network Corp earned the distinction of having the hardest drop in pay, He drew a $623,100 salary that was 92.5% lower than his 2008 total compensation, even though the company stock doubled."

Wonder if Echostar made up the difference?

Echostar could be a factor, also it says "salary". How about other compensation?

Not that it really makes any difference to me, it's just if Charlie want to announce something he's going to be called on it.

 

[Juan]

I like the april 1st tagline!!!

 

[aperry]

Poor guy, I don't know how he survives on such a paltry amount...

 

[Claude Greiner]

He probably looks at the assets of DISH Network as his own, and doesn't need the money.

So why take a big pay check if most of it goes to taxes?

Same reason why I don't take a paycheck sometimes!

 

[Fitzie]

Thanks, cpdretired, for the Forbes link.

The Forbes article shows Charlie with a $9.5 billion worth. I wonder if this counts the asset value in the Ergen family foundation? As you all know, Charlie and the Foundation own and control more than half of EchoStar and Dish Network. Charlie thus gets to set his own salary and decide whether profits will be distributed or plowed back into the company. The Dish 10K form filed recently (and linked in another thread) showed that sometime recently (maybe in 2009) Charlie received several hundred million $ in a one time profit (dividend) distribution.

With over 14 million subscribers, the cash rollover for E* and Dish is substantial. However, programming is expensive and the cost of expansion (more sats) is not cheap. Not to mention the cost of the Tivo affair.

Regards,
Fitzie

 

[DishSubLA]

Other CEO's of comparable companies still get millions in annual salary. Ergan has always been among the lowest paid CEO's ANYWHERE, and has always been willing to reduce his salary when he blamed himself for some of Dish Network's mistakes over the years, one being the failed takeover of DirectTV. Of course, Charles has his personal wealth and value in the company to offset any low salary.

So, let's mock the really obscene salary CEO's out there. Charles Ergan is a pauper when measuring his annual salary compared go just about anyone else. What about the Insurance CEO who testified before congress that she gets a salary of over $1 million. Please, poor Charley. Is there any media CEO of comparable size to Dish Network/Echostar who gets less than $1 million salary? I don't think so.

 

[yaz96]

And don't forget, Charlie built this company. He wasn't some hired gun CEO that just came in and started making millions, well, just because he was CEO.

What one person here wouldn't switch jobs with Charlie?

 

[Toddwsu2005]

Is it possible that Charlie actually cares about the company enough to take less money? Whatever the case. this story should be more common. I'm sure there's some bonus and other contractual stuff he gets money for but still, that is a low low low salary for the head of a satellite television company.

 

[Jim5506]

All the squaking about CEO salaries is really sour grapes.

IS it better for an individual to receive the money and return it to the economy by investing or spending or saving or is it better to pour it down the government sewer hole?

 

[yaz96]

What one person here wouldn't switch jobs with Charlie?

And I forgot to say switch salaries....

 

[Mr Tony]

I dont think you'd want to see my ugly mug doing the Charlie Chat

of course...my Charlie Chats would be more interesting

 

[Koilvr]

He probably looks at the assets of DISH Network as his own, and doesn't need the money.

So why take a big pay check if most of it goes to taxes?

Same reason why I don't take a paycheck sometimes!

:up:up:up:up Yup thats why when you own a business people dont understand when you tell them you dont take a salary at times.

 

[david_jr]

All the squaking about CEO salaries is really sour grapes.

IS it better for an individual to receive the money and return it to the economy by investing or spending or saving or is it better to pour it down the government sewer hole?

Yet where is the outrage for Oprah making $300 mil a year, moviestars getting $20 million per movie and ballplayers making $30 mil a year? These people add very little value to the society. At least Charlie hand built a company to a major corporation through innovation and hard work. While most of us have had issues with his company at times, he certainly deserves more than a million dollars a year.

 

[cditty]

I have alot of respect for Charlie. He has worked hard for his money and I'm sure made plenty of sacrifices over the years in his personal life to do so.