Word: eisner
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...Washington Post, columnist Robert J. Samuelson has suggested that Michael Eisner, the CEO of the Walt Disney Co., pay Michael Ovitz's severance package out of his own pocket. The $90 million Ovitz is due to receive for flopping as an executive, Samuelson says, has become a "public relations calamity" that Eisner could end by simply picking up the check...
...agree with Samuelson that it would be bracing if Eisner took responsibility for his own blunder in hiring such a turkey for president of the company in the first place. But I don't see it happening. I hope that doesn't sound cynical. It's just that I know Eisner has had previous opportunities to end public relations calamities by paying up with his own money...
...were saying writers had to make some sacrifices in the leaner economic conditions the industry was facing. Then, in an article in the New Yorker, Joan Didion pointed out that the total received in residuals by all 9,000 members of the Writers Guild was $58 million and that Eisner's 1987 compensation was an estimated $63 million...
...juxtaposition of those two numbers was compelling: if you subtracted $58 million from Eisner's compensation to pay the residuals, the screenwriters would be happy, Eisner would still have $5 million a year to live on, and everyone could go back to work. How was Eisner going to live on $5 million a year? I figured he could cut back on a few nonessentials. Didn't happen...
...controversial effort to build a history theme park near the Civil War battlefields of northern Virginia, the company wanted the state to pitch in $132 million for the necessary road improvements--a demand that was contributing to what was steadily becoming a genuine public relations calamity. By that time, Eisner was making $202 million a year, so I suggested publicly that he pay for the roads himself. That would still leave him an annual take of $70 million. We knew he could live on that, because he'd got by on $7 million less in 1987. Didn't happen...