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| From: | jaq (12.236.179.240)
| | Subject: | Black & Decker dropped 7% * Paid CEO Archibald $12.1 million * Plans to cut worker salaries | |
Date: | November 10, 2009 at 5:16 pm PST |
In Reply to: AIG Consumer Lender Cuts 300 Jobs, Shuts 25 Branches posted by jaq on November 10, 2009 at 4:55 pm:
"Black & Decker sales dropped 7 percent. Black & Decker paid CEO Archibald $12.1 million anyway, then announced plans to cut worker salaries by up to 5 percent. Stanley CEO Lundgren, for his part, took home only $4.6 million in 2008. Last December, Stanley took steps to pump up that disappointing take-home — by closing three manufacturing facilities and axing 2,000 jobs."
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