Lets face it. Long term AMD investors must feel like Chumps. Even more Chumpish than those who bought Intel a few years ago when it was $75/shr. Bone
Oh I agree, or for instance, those chumps who let Jerry Sanders run away with all of AMD's money while the company loses money, and it's stock floundered..... And STILL is being allowed to do so. AMD invstors should be proud.
Jerry Sanders: Buy low, sell high By David A. Sylvester Mercury News
For those who argue that stock options and executive pay are incentives to improve long-term stock performance, take a look at Advanced Micro Devices.
While chip maker AMD has lost money over the past two years and its stock has lagged for a decade, Chairman Jerry Sanders has received some handsome compensation. In April 2002, he retired as chief executive, keeping his position as chairman, and still wound up with a larger salary than any of the top AMD executives for the year. In 2002, he received $916,000 in base salary -- $20,000 more than new CEO Hector de J. Ruiz.
``The whole theory of a non-executive chairman is to have someone who is watching out for the shareholders,' says Graef ``Bud' Crystal, a longtime critic of excessive corporate pay and former editor of an annual corporate compensation survey. Crystal questions why Sanders was paid more than the CEO when he no longer had executive duties.
Sanders, 66, also received $495,700 in other compensation, largely for his personal use of company automobiles and AMD's corporate airplane services.
Of that, how did he did rack up $183,900 in car expenses? He lives in Southern California and works in Sunnyvale, so he has two part-time drivers and two cars.
Along with $576,800 for cashing in a life insurance policy, and $85,000 for a deferred cost-of-living salary adjustment, Sanders' total compensation comes to $2.1 million.
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