Lenovo CEO Shares $3 Million Bonus With Workers 169
hackingbear writes "Yang Yuanqing, founder and CEO of Chinese PC maker Lenovo, will share $3.25 million from his bonus with some 10,000 staff in China and 19 other countries. 'Most are hourly manufacturing workers,' Lenovo spokeswoman Angela Lee said. 'As you can imagine, an extra $300 in a manufacturing environment in China does make an impact, especially to employees supporting families.' In its annual review last year, Lenovo raised Yang's base pay to $1.2 million and awarded him a $4.2 million discretionary bonus and a $8.9 million long-term incentive award. Yang owns 7.12% of Lenovo's shares, equivalent to about $720 million in stock."
Re:Philantropy (Score:5, Informative)
Not as easy as you think. First you have to get over yourself. That's HUGE when you're rich because you tend to think you're better than those below you and your status and ability to rise to your level convinces you of it. So, no it's not as easy as you think. In reality, it's easy to imagine being generous when you don't have much to give.
Re:Not the first time (Score:4, Informative)
A list of Foxconn's customers
http://en.wikipedia.org/wiki/Foxconn [wikipedia.org]
Acer Inc. (Taiwan)[39]
Amazon.com (United States)[7]
Apple Inc. (United States)[40]
Cisco (United States)[41]
Dell (United States)[42]
Google (United States)[43]
Hewlett-Packard (United States)[44]
Microsoft (United States)[45]
Motorola Mobility (United States)[42]
Nintendo (Japan)[46]
Nokia (Finland)[40][47]
Sony (Japan)[8]
Toshiba (Japan) [48]
Vizio (United States)[49]
Re:Let't reward this! (Score:4, Informative)
Lenovo 2012 profits : $472 millions
Yang's share of that : $33 millions
Lenovo's employees : 27 000
Lenovo profit per employee : $17,481
What Yang offers them : $300
I am not sure I want to reward that.
Re:Philantropy (Score:4, Informative)
Mitt Romney gave $4 million to charity in one year - 1/3rd of his income.
Giving money to your own social clubs like the mormon church and its affiliates like Brigham Young University, or the George W Bush Library, or the private school where 5 of his kids attended isn't charity, it's tax-deductible self-interest. Naked quid pro quo.
Before I posted I went and read up on his tax returns, just to make sure that my assumption of self-interest was true. That he hadn't made a liar out of me and my cynicism by really giving the bulk of his donations to organizations that would not benefit himself in one way or another. In the process I found out some interesting "character" related points:
1) His 2010 tax return showed only 11% of his income went to non-profit deductions. The mormon church directly gets 10% straight off the bat as tithing, leaving 1% for everything else. In fact, his own 20-year summary shows he averaged less than 12.6% until the 30% spike in 2011 brought the average up to just under 13.5%. Why such an outlier in 2011 when he had roughly half the income that he did in 2010? Seems to me that once he won the party primary his donations went up.
2) In 2011 he did not claim the maximum allowed tax deductions for his donations. He only claimed a deduction for $2.25 of the $4 million that was eligible. Why would he do that? Well, the guy who runs Romney's family trust said it helped to keep his campaign promise of paying at least 13% in income tax every year. Here's my question, now that he lost the election, did he go back and file an amended return to claim the entire $4M? We will probably never know, maybe a real man of character would not. A real republican would be happy to over-pay his taxes without a complaint, right?
My source for those two points is this article at The Blaze [theblaze.com] - I figured I'd go with a conservative news source to give Romney the benefit of the doubt in the reporting.