| Hephaestos said:
A) they are japanese and accept punishment for failure, rather, they punish themselves for failure. B) their failure is on revenues over the past 18 months... they have not managed to lift the curve and it becomes apparent that the curve will stay low untill next christmass -> big failure for a money printing house. You have to realize that directors and high executives answer to the board and the board is elected by shareholders. Low revenues and dipping shares makes the shareholders and therefore the board (as they look bad) unhappy. The salary slash is a way for the executive to avoid having to resign under shareholder presure... and salaries at that level is a bit irrelelvent, your money is made on bonnuses and they made a ton in the past few years.... hopefully they'll make a ton in 12month's time too. (I may be off on the workings of nintendo, i'm speaking more in general terms here). |
In a world of Golden Parachutes, and greedy Western executives, it would be nice just once to see a Goldman Sachs exec. take a paycut for their shitty performance.
“When we make some new announcement and if there is no positive initial reaction from the market, I try to think of it as a good sign because that can be interpreted as people reacting to something groundbreaking. ...if the employees were always minding themselves to do whatever the market is requiring at any moment, and if they were always focusing on something we can sell right now for the short term, it would be very limiting. We are trying to think outside the box.” - Satoru Iwata - This is why corporate multinationals will never truly understand, or risk doing, what Nintendo does.
