Big money, lower taxes

Sure, $37 million for CBS CEO Les Moonves looks bad. Consider:

--CBS just dumped a bunch of its local TV news people, including about a dozen at KCBS.

--CBS stock fell 13 percent last year (and 20 percent so far this year).

--CBS net income fell 25 percent last year.

--CBS ad revenue fell 2 percent last year.

--CBS's prime time ratings have fallen 23 percent so far this year.

Also consider that the $37 million pay package is a 28 percent bump from a year earlier - and it comes at a time CEO compensation is cooling down a bit.

But wait, there's more! Since Moonves lives and works in both NY and LA, he is subject to taxes in two states. Not a problem. Last summer CBS amended the terms of his employment agreement so the company would pick up all NYC and NY State taxes. Thatís one lucky so-and-so.(Lawdragon, Silicon Valley Insider)



More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner


Advertisement
Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook