Blockbuster, CEO at odds over bonus; Wanted $7.6 Million and only got $2.3
Everybody altogether now....
Awwwwwwww:
Blockbuster Inc. says it is in discussions with its chief executive over his 2006 bonus, as it reported a 28 percent drop in its fourth-quarter profit, which took a hit on store closures.
Blockbuster's board said in a regulatory filing with the Securities and Exchange Commission that it awarded CEO John Antioco a $2.28 million bonus in January, in addition to his 2006 salary and deferred compensation of $2.5 million. However, Antioco said that based on the company's 2006 senior bonus plan and performance goals, he is entitled to a $7.65 million bonus.
The company said it will reserve $4.5 million to deal with the discrepancy over the payout.
