Thursday, September 25, 2008

Technology Review: Sun Microsystems CEO gets $11M 2008 pay package

Insult added to injury, for JAVA shareholders

Sun Microsystems Inc. Chief Executive Jonathan Schwartz received an $11.1 million pay package in the server and software maker's most recent fiscal year.
The amount represents a 44 percent bump over the previous year's $7.7 million in compensation, a reward for Sun's recent profitability streak, but was far short of what Schwartz could have garnered.
A serious downturn in the second half of the 2008 fiscal year, due to tougher competition from Hewlett-Packard Co. and IBM Corp. and Santa Clara-based Sun's heavy reliance on U.S. businesses and financial services firms, cut deeply into Sun's results and has held down its shares.

Here's a chart of Sun's stock price over the last year, from Yahoo! Finance:

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Technology Review: Sun Microsystems CEO gets $11M 2008 pay package

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