Pam Meister, Pajamas Media
When General Electric’s CEO declined to accept a $12 million bonus — on top of his $3 million base pay — a friend sent me the headline and snarked, “What will he and his family live on?” My reply was, “But what would people be saying if he didn’t decline the bonus?” Damned if you do; damned if you don’t.
Yet my turn for a similar sense of schadenfreude arrived when I read this, courtesy of the New York Post’s Page Six:
Hollywood stars are starting to feel the economic pinch. “Salaries are being cut. Unless you’re Will Smith, you are not going to get $20 million a movie anymore,” said an insider. To make matters more meager, “back-end” deals — where a star or big-name director would get a cut of the gross — “are dead. Those deals are not being offered to anyone. Not [even] Steven Spielberg. It’s, ‘Here’s your salary and go home.’ There is no negotiation between stars and the movie studios anymore. The studios make an offer. If the star says no, the studio says, ‘We’ll find someone else.’”
Please share this post with your friends and comment below. If you haven’t already, take a moment to sign up for our free newsletter above and friend us on Twitter and Facebook to get real time updates.