Micron gets Valleywagged
Some of you may be familiar with Silicon Valley tech gossip blog Valley Wag. Normally Valley Wag wouldn’t have much interest to or in Treasure Valley residents, but taking a departure from their own valley they posted some commentary on Appleton’s and his refusal of his yearly bonus.
Micron, a memory-chip manufacturer, had a bad year. The company lost millions of dollars and laid off over 1,000 employees. Because of this, CEO Steve Appleton turned down his yearly bonus. Extraordinary? Perhaps. We suspect he’ll do alright. He made $8.6 million from his base pay, stock awards and retirement package. That would be plenty of money to live comfortably in Silicon Valley — and it’s a fortune in Idaho, where Micron is headquartered.
You know Barry Diller of IAC has never apologized for how much he makes (reportedly $17,034,661 in total compensation FY ‘06) and I don’t blame him. I feel that if a person can negotiate their package and it is agreed to by the company then they are entitles.