Monday, May 04, 2009

Rogue's IRA thanks you, Vince

In this era of pirate capitalism, you don't see this often:
STAMFORD, Conn. -- World Wrestling Entertainment, Inc. today declared the Company’s regular quarterly dividend of $0.36 per share on its Class A shares of common stock. As previously announced, members of the McMahon family have waived $0.12 per share of the dividends. As a result, all Class A and Class B shares owned by the McMahon family will instead receive dividends in the amount of $0.24 per share.
If Vince were a real CEO, he'd give himself a fat salary*, no-cash-required options, and a golden parachute. But since he's a capitalist, he's paying his shareholders 50% more in dividends than he's paying his own family. If there was ever a better illustration of the difference between a capitalist and a manager, I haven't seen it.

* $850k is not peanuts, but it is less than what quite a few of his wrestlers and his VP of television production earn.

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