GameStop CEO Received $179 Million Dollars For Quitting
Even with the company in shambles, i don’t give a crap what just happened on reddit with wall street bets, um or either quitting, or leaving the company and they’re leaving with their pockets very well lined and i’m, not just talking about their salaries. Their salaries are already good to begin with. These are severance bonuses or bonuses in general or just simply quitting, and this was in their contracts, and now they basically got lottery tickets to either do their jobs poorly or walk out the door of gamestop. If you remember back in late march, i talked about how jim bell uh, he received a 2.8 million dollar severance bonus, keep in mind. He already had a salary of seven hundred thousand dollars, so he worked for a couple years and was smart with his money. Obviously there’s taxes, okay, let’s, say three years. He would be over more than a millionaire more than a millionaire i’m sure he had other bonuses and things like that too. He could also have the potential for a bonus of another 700 000 a year if they hit their numbers and all that windfall of money he was making was before he received his severance bonus. America baby again, he resigned from the position. I i, when you resign from your job, do you receive a 2.8 million dollar bonus for rants that’s in their contracts? Why are you anti? Why are you anti capitalism? I’M, not anti capitalism, i’m, anti, crony capitalism, there’s a difference, there’s people that can’t even keep their lights on right now and i it’s people that were employed, gainfully employed, pre pandemic or they’re struggling because their kids are home and now they have to pay for either A babysitter or someone to watch them while they’re working or maybe they can’t work as much because of the fact their kids are home more often and then there’s people that are receiving windfalls of money for essentially existing and helping drive a company into the ground it’s.
How it works it’s, just wow man it’s unreal. Well, if you think that the 2.8 million dollar severance bonus, that chief financial officer jim bell received from gamestop, was a lot make sure you change your underwear or make sure you’re gon na probably have to change your underwear, because what the ceo received, who is leaving Will make your eyes water it’ll, make carlos’s ass water as well he’s watery ass, carlos he’s, also known as that that’s his other nickname anyway? What i cite here comes from kotaku.com i’ll have a link below in the description i’m going to read you a short snippet of it, and then we will discuss in further proof that our current economic system is entirely fine and normal gamestop, ceo george sherman, who is Leaving his post in the summer will be getting 179 million just for quitting his job as reuters reports having crunched the numbers and going over some of the company’s filings. Gamestop, probably thought they were doing a smart thing to save a buck or two and decoupled. Some of sherman’s pay from his performance last year in the early months of the coven 19 pandemic and granted him stock. That was when the game shares were worth jack. Now they are worth a lot more. So much more. That has propelled what should have been a fairly sensible by executive standards and obscene by any other metric compensation package into the stratosphere and get this. It could have been more but sherman forfeited 98 million worth of stock this month, because he did not meet performance targets.
So he didn’t he didn’t help the company meet their performance targets and he’s still leaving with a hundred and close to 180 million dollars as a bonus in his pocket. He didn’t do his job adequately. Let that sink in he didn’t do his job adequately and he’s. Getting a 180 million dollar bonus, 179 million, because, oh, my god, you’re exaggerating, you’re exactly okay, i’m, exaggerating by a million easily let that sink in, let that sink in for a second. What i find amazing is that people who say, oh rich, this is capitalism crime. Your river look i’m all for people making money, look if you’re making money on crypto if you’re, making money with investments, you’re making money on youtube, you’re making money on only fans, you’re you’re. You started your own small business and it went to the stratosphere and now you’re a multi millionaire i’m, not knocking people’s hustle it’s, not what i’m saying. But this is crony capitalism at its finest. I always bring up bernie stoller from sega, who is the president of sega of america. He made a bunch of dumb mistakes, but admittedly, when the dreamcast launched, he did help make a very aggressive campaign that out of the gate, the dreamcast was very successful, ended up. Failing but that’s more so because of sega’s reputation beforehand and the fact that the playstation 2 just kind of sucked up all the hype away from the dreamcast, but the re he sega actually wanted to launch the dreamcast.
I believe at 250 bucks he disregarded what sega of japan wanted. Who was the head company that’s that’s, the head branch and bernie’s like no we’re launching it at 199, bucks sega got pissed and fired him. This is in 99, and so i add inflation in there. He received a five million dollar severance package, five million dollars to. If i went to my job and say i worked at macy’s, and i worked in the shoe section and my boss said to me: hey rich, you need to price these shoes at 79.99 change. The tags and i’m like nah man, i’m keeping the price at 59.99 that’s what i’m selling them at take let’s play some generic jeopardy theme music. Here? What do you think would happen? I would get fired and at best i would receive whatever check i had coming to me. This is insane but rich it’s in their country yeah. Why is it in their contracts? Why is it that, when these executives fail fail and don’t do their jobs properly, when they hurt the company that they were trying to lead that they get bonuses for screwing up? Oh rich it’s, a hard job because they’re doing so much because they’re, the head of the company they’re, the chief executive officer, yeah, okay, but you’re in that position, you’re already receiving an insane salary, and you make a mistake. Even if you don’t get these bonuses, you walk out the door. If you were smart with your money, you still probably won’t have to work another day in your life, but you know what you screwed up.
Our profits are down by 20 percent. You know what man it’s in your contract we’re, going to give you a bonus for failing millions of dollars for failing again, if i worked at that shoe, store and one and refused to sell it at at the price that my boss wanted to sell it at I’D be fired and would receive whatever little money. I had coming from my check if you don’t see what’s wrong with this man and if you think the average american receiving a fourteen hundred dollar stimulus check during a pandemic he’s like oh, they need to tighten their bootstraps and get off their ass you’re. An idiot plain and simple: i don’t care if people unsubscribe because of this video like if you don’t, get how there’s nothing wrong with this and how yeah they people shouldn’t receive those 1400 texts, and this guy should receive 179 bonus. You don’t have two brain cells in your head and i’m, not going to apologize for that. This is rich of review tech. Usa. Signing out have a good one: hey if you enjoy my content, consider becoming a review tech, usa, member i’ll have a link below in the description. I live stream now on this channel all the time and it gives you access to cool emoticons to use as well.