The Warner Music Group lost $56 million in the most recent fiscal year, and its stock lost 25% of its value. So the CEO of WMG, Edgar Bronfman, Jr., was paid a $3 million dollar bonus for "strong operational performance in a historically challenging industry environment"!
How's that for standing logic and common sense on its head?
(Poor Year Doesn't Stop CEO Bonuses, The Wall Street Journal, 03/18/09.)
Disclosure: This Friday and Saturday, we're publishing a two-part retro review of The Small Faces' The First Step album, which was released on Warner Brothers Records. I was not paid a million dollars for the review.
"The Small Faces was the best English band never to hit it big in America." allmusic
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