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Execs Paid Big as Midway Crumbles

As one of the most historic companies in the video game industry crumbles into non-existence, the company's higher-ups haven't shouldered the burden. Despite massive cutbacks and layoffs over the past few years, the salaries of top Midway executives remained unchanged despite the company's consistent downward spiral.

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ahnonamis3638d ago

Seeing how much money the people running companies pulls in for themselves while the company flounders in debt and risks closure isn't anything new... But I get extremely upset every time I see it happen. Especially when it's put in perspective in terms of how many people lost their jobs recently, and how that could have changed.

cain1413638d ago

It's really common in business, but it's still not something that you like to see...

pixelsword3638d ago

"The Last Act of Any Government is to Loot the Treasury"

...and even companies are governed.

italianbreadman3638d ago

Exactly...the lowly coder or artist is going to feel the brunt of this, when they were the ones giving their all to help the company survive.

And wtf is "other" compensation?!

cain1413638d ago

It's anything other than cash normally... You know health care,stock, company car, company expense account anything of those likes...

+ Show (1) more replyLast reply 3638d ago
ThePimpOfSound3638d ago

Agreed. This is different I think because the company is so close to going under at this point.

Viewtiful3638d ago

"According to filings with the SEC, former President and CEO David F. Zucker made over $4.5 million in the past two years. This includes over $3 million in stock options and sold stock. Since 2003, Zucker has made just under $11 million."

No matter how common this is, it's still pretty nuts that this guy got paid like four times as much as everyone else just to run the company into the ground.

cain1413638d ago

I love how companies manipulate salaries using stock.

pixelsword3638d ago

Where Peter Moore would've been laughed out of the gaming world a long time ago for so many strings of gaming failures if he held a lead developer's position.

Instead, he sinks Sega, Cripples Microsoft, and is currently working on cutting up EA to bits.

All good companies before he got there, and will likely be better off after he leaves.

proArchy3638d ago

All too common. Meanwhile, I'm living in a brand new middle class ghetto full of incompletely constructed, abandoned, or repossessed(due to loan defaults) homes created by shoddy, unethical business practices JUST like these.
Like the immortal words of the Joker: This town needs an enema!
I say we start with the execs

omodis4203638d ago

Typical corporate greed.

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