Todd was having problems with his Samsung Galaxy phone, so he traded it in for a refurbished warranty replacement. The replacement phone turned out to be defective, too. Rather than enter the perpetual cycles of smartphone replacement purgatory, he knew there had to be another way. He looked for one, and found it in a recent post about a reader who deduced the e-mail address of Samsung’s CEO and used that information to get the company to actually honor its warranty. [More]
In March, a group of two dozen lawmakers prodded the Securities & Exchange Commission to finally get around to enforcing Section 953(b) of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, which requires publicly traded companies to disclose the ration between CEO pay and the median pay for the rest of their employees. Now that the SEC is prepping to release those rules, these companies are suddenly claiming a lack of basic math skills. [More]
The NYT DealBook Blog says that AIG’s $1 interim CEO is living pretty well, despite the whole “being hated for something you didn’t do” thing.
Paul now has 30 free pairs of sneakers from J.Crew for calling them out on some bullshit.
Regarding the $35,000 “commode on legs” ex-Merrill-Lynch CEO John Thain bought for his office, commenter VikramJaffe informs me that it is not as I theorized, a claw-footed toilet, but rather a chest of drawers on legs introduced by the French in the early 18th century. Too bad no one informed me of the distinction before I took a crap in it.
Merrill Lynch CEO John Thain spent over $1.22 million to renovate his office in early 2008, just as his firm was getting ready to slash thousands of jobs, cut back on spending and dump businesses. Here’s this douchebag’s big-ticket tally of personal aggrandizement in the midst of financial crisis:
A very nice anonymous reader just sent us contact info for Michael Duke, the new CEO of Walmart (as of February 1st, 2009). Please use it wisely.
The New York Times has an article discussing Congressional proposals to limit executive pay. Although the financial industry may deserve a pay cap, the author argues, other industries would be harmed by a cap.
Readdress your gripes! Walmart will have a new CEO, Mike Duke, starting Feb. 1. [CNNMoney]
Let’s say you run a toy company. Your retarding poison toys earn you a well-deserved public flogging, which you escape by scapegoating Chinese workers. The media doesn’t realize, until it’s too late, that the real culprits are the dangerous domestic designers you employ. Sales inch up marginally. Do you deserve $12.2 million, a 68% raise? Mattel’s Board of Directors thinks so!
Pass the hat around, Comcast CEO Brian Roberts is only going to make $20.8 million this year. [Philadelphia Inquirer]
The author of the BuisnessWeek article “Sprint’s Wake-Up Call”, Spencer Ante, has posted his entire interview with Sprint’s new CEO, Dan “At Least I’m Not Gary Forsee” Hesse.
“I feel we are well positioned for an economic downturn,” Scott said. “Our low prices and low-cost business model should give us an advantage over other retailers if things get more difficult for consumers.”