Archive for the ‘CEO compensation’ Category

Comcast CEO Pay “Falls” to $20.8 Million

Thursday, April 3rd, 2008

Let’s compare notes. In Oregon and Southwest Washington, Comcast cable subscribers seek refunds of what they claim are illegally charged late fees. By way of full disclosure, I am lead counsel in a pending consumer case that seeks refunds and damages for consumers who paid late fees. In the case, Martin v. Comcast, consumers claim that Comcast violated Oregon law when it levied late fees.

Comes today’s report on Comcast’s executives compensation. It seems that the CEO has had a bad year. His pay for the year exceeds $20 million. The article notes that Comcast shareholders are a bit outraged because the stock apparently hasn’t been doing too well of late. Add to that the bajillions of complaints about Comcast service and other shenanigans, and it’s easy to wonder how the CEO cashes in so big in these lean, tough times.

There is, I suppose, a silver lining for Oregon and Southwest Washington consumers. If Comcast can afford to pay $20 million per year to its CEO in a bad year, it can surely afford to refund any monies that a court concludes were inappropriately collected here. So the good news is that if consumers win on their claims, I can’t imagine that there will be much in the way of sympathy if Comcast pleads poverty when the day of reckoning comes.

David Sugerman