Robert Downey Jr Gets $12Million HTC One Marketing Deal; Execs Got Half Pay Last Year

Discussion in 'Android News' started by dgstorm, Jun 21, 2013.

  1. dgstorm

    dgstorm Editor in Chief
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    It looks like shareholders of HTC took the decline of the company last year very seriously. According to a report at the Wall Street Journal, HTC Execs including the CEO Peter Chou all had pay reductions last year that amounted to a 50% drop. Here's a quote with more of the details,

    Meanwhile, it looks like the executives aren't just banking on the HTC One to save them, they are trying to enlist the aid of Iron Man too! Seriously, HTC just signed Robert Downey Jr. to a $12 Million USD marketing agreement, in which he will assist them with a variety of television, print, and billboard advertising. There's no word on if he will actually be in "Iron Man mode", but that seems unlikely. HTC would have to secure IP rights from Marvel to make that happen, so he will probably have to leave his repulsor beams at home.

    Still, they are probably banking on the fact that people associate him with the character. In the long run, it could be a real adrenaline shot in the arm to HTC at a time when they need to keep the forward momentum going with the success of their HTC One.

    Source: Phandroid
     
    #1 dgstorm, Jun 21, 2013
    Last edited: Jun 21, 2013
  2. jspradling7

    jspradling7 Active Member

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    Those poor people. I don't HOW they are going to survive on those pitiful wages! :icon_eek:
     
  3. sweeeeet

    sweeeeet Silver Member

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    all I saw was "Robert Downey Jr. gets $12million HTC one" I was gonna say that's one expensive phone from a reeling company lol
     
  4. dgstorm

    dgstorm Editor in Chief
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    Your comment is pretty hilarious, and most of us would agree that it shouldn't be a big problem to live on that kind of money. Still, just to play devil's advocate, if you put yourself in their shoes, how would you feel if you had to take a 50% pay cut? The fact that many of the execs stayed after that could be proof of their commitment. Sure, they make a lot of money, but $22 Million USD divided up amongst 31 executives is about $709,000 USD. Obviously they didn't all get equal pay though. Folks at the top levels got more, but middle management executives got far less.

    Let's say the low-level, middle management exec normally made $80,000 per year in 2011, and their lifestyle adjusted to that level of income. It would be tough to live on $40k in 2012 if you had close to $80k per year in expenses from the previous year based upon a salary you were promised by your company.

    Of course, the wise person doesn't spend all of their salary; they live on a portion of their income and then save/invest the rest, but most folks don't follow good habits like that. Obviously the folks at the very top probably don't have to worry much, but you never know... it's all relative.

    Just food for thought...
     
  5. dgstorm

    dgstorm Editor in Chief
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    A $12 Million dollar phone better transform into an Iron Man suit! lol
     
  6. Dusty

    Dusty Gold Member

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    That's the key right there. I know someone who made $220k for years and had their salary cut to $120k last year. It was a really substantial lifestyle change, especially when your finances have been set up to live that "way". I don't feel sorry for the jokers making more than $500k, but for the other people who are mid-career with young families and not spending lavishly who WERE doing well. Now they're probably scrambling to adjust... I feel their pain. The lower 60% probably only accounted for 30% of the salary net total. As you get to the top 25%-30% of most corporate pay ladders the pay differential from those below starts to become exponential.
     
  7. sweeeeet

    sweeeeet Silver Member

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    it's better they got a pay cut than fired lol.. its still a nice chunk of change
     
  8. dgstorm

    dgstorm Editor in Chief
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    Very valid point too! :)
     
  9. kodiak799

    kodiak799 Gold Member

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    I'm not sure their pay was "cut" per se, likely a result of missing bonus targets and a sinking stock price.

    As or Robert Downey Jr, he's a funny guy and could be great in commercials. I think it's a horrible waste of money (like their Beats partnership), but at least HTC is spending something on marketing :biggrin:
     
  10. xeene

    xeene Gold Member

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    A lot of execs left the company due to pay cuts.
     
  11. jspradling7

    jspradling7 Active Member

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    Yeah... but they could have picked up T-Mobile girl for a fraction of that and still turned more heads. HTC is still making bad calls. lol

    @dgstorm I completely understand your point. When I was growing up I thought "If I could just make "this" much I'd have enough." But it isn't ever that way. You always find a way to spend or invest it and when cuts like that come along it doesn't matter what you are making, it's a major event. Like you said, it's relative.
     
  12. kodiak799

    kodiak799 Gold Member

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    LOL, most of them weren't leaving voluntarily, it's clear HTC did a house cleaning.

    Most exec comp is bonus and stock options - 50%+ for Sr. VP's and up to 80-90%+ for Execs. So when a company is struggling, it's not a paycut but they are only making less than half what they expected. And that's kind of how it's supposed to work - these people only have to look in the mirror to see who's responsible for their "paycut".

    But the base salary and min. bonuses are still nice, and it's rare for a key player contributing to a company's failure to have better options to pursue (the people in demand are stars at companies doing well). You NEVER see a mass exodus because people are unhappy about their pay being cut.
     
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