What a novel concept, fancy a businessperson taking responsibility for their company's performance. http://mynintendonews.com/2011/07/2...ident-takes-50-pay-cut-due-to-poor-3ds-sales/ Of course, it's not in the business pages - only game sites seem interested in such an event.
Now that's a real man. Anyone willing to take accountability for his companys failure is a rare person in the corporate world. That beats Hary Cary anyday. In the USA, when corporations fall short of earnings, they get a promotion and sell off some stock options when the price is high and lay off many workers to make up for the shortfall. Also, shareholders eat it too.
One can but wonder how he'll subsist on only million a year. It's a teeny gesture, but nonetheless welcome.
This reinds me of another story. Apparently, a CEO encouraged his employees to invest in Bernie Madoff. Well, as you know, all those people lost their money once the ponzi scheme went down. So the CEO used all his money to help make up what his employees lost. The money he used was supposed to go for his retirement.
Well,that is a very nice story! Maybe there IS a Santa Claus, Virginia! But do we have anything to indicate it is anything but an apocryphal fell-good urban PR legend designed to help us feel better about the latest doubling of CEO pay while laying off and cutting workers' wages spreads across the country?
While I don't know of many examples of things like this, however the most well-known example was Google at the beginning of this year.
Well, it doesn't appear to be an urban legend. Maybe if a regular newspaper would friggin' print it we'd know more. I first heard about it on a nationally televised gaming show. Note that the CEO salary was reasonably modest compared to many comparable companies at 'only' the "equivalent of around US $2 million". He's taking a big pay cut. Good on him. I've never ever heard of this kind of responsibility from an Australian or US run company. e.g. http://www.crikey.com.au/2009/08/14/the-trujillo-shambles-that-haunts-telstra/
Still doesn't make me want to go out and buy a 3DS. But good move none the less. Honor is not a rare thing in Japan. Morality and looking out for your fellow countryman is an integral part of their culture. Sometimes I envy them. Then I watch some of their TV shows and it makes me glad to be American.