I have been lucky. Having the opportunity to do something like this is fantastic. It is fair to say I wanted to recover some of my self-esteem.Tony Hayward, former CEO of BP • In a New York Times profile, examining the daily life of the former BP executive, just over two years after he famously lamented his loss of life. Hayward now finds himself at the helm of Genel Energy, a drastically smaller oil company (currently worth about $3 billion on London’s stock market), and he hopes to redeem his image globally. source (via • follow)
» So, where did all the money go? Well, the company certainly hasn’t done much trimming when it comes to wages. After reporting $16 million in employee compensation during 2009, equal to 31.16% of their revenue, the company only shaved $3 million in wages by 2011. The company reported $13 million in employee compensation last year, equal to 44.67% of their revenue, including over $3 million in wages for the company’s two highest-ranking executives. Add in a $21.9 million drop in annual membership dues over the same two-year period — amid a fairly rosy 2011 for the music industry as a whole, which suggests members are departing or paying smaller amounts in membership dues — and the picture really starts to come together. So, how much longer do you think the RIAA is going to last?