Outside of Xohm, what does Sprint have going for it? According to some sort of investor advisory group, Glass, Lewis & Co., Sprint is also home to America’s most overpaid executives. Now that’s something it can brag about!
Reuters lays it out simply: “top managers [were] awarded pay valued at nearly $74 million last year when the company struggle.”
Sprint defends itself by calling 2007 a “highly unusual” year, one that saw the company hire a new CEO to help stop the bleeding, that is, customers fleeing to other carriers. And like a top-notch shortstop, the CEO received a hell of a signing bonus.
The new CEO, Dan Hesse, earned a total of about $28.3 million last year.
Normally, no one would much care how much a bunch of Sprint (or whatever other company) executives made, but when you see stories like AIG going hog wild at some lavish spa when the average guy is worried about his next mortgage payment during an election year, well, it’s probably something Sprint would rather not deal with.