Nintendo CEO Takes 50% Pay Cut

The Wooster

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Nintendo CEO Takes 50% Pay Cut


Nintendo's upper management is taking a wage cut in response to poor 3DS sales.

Nintendo President and CEO Satoru Iwata is having a bad week. Just yesterday, Nintendo announced that it's lowered its predicted earnings for the 2011-2012 fiscal year by 82 percent [http://www.escapistmagazine.com/forums/read/7.303433-Nintendo-Slashes-Profit-Forecast-by-Four-Fifths?page=1] and that the (relatively) slow selling Nintendo 3DS is receiving an $80 price cut [http://www.escapistmagazine.com/news/view/111935-Nintendo-Slashing-3DS-Price-by-a-Third], less than six months after the handheld's launch. Now it seems Iwata himself is also getting a price cut.

The fourth CEO of Nintendo, who was named one of the top CEOs in the world by Barron's Magazine back in 2007, will see his yearly income of approximately $1.7 million, which includes both his salary and performance based bonuses, cut in half. Other representative directors, including Mario-creator and general lovable oddball Shigeru Miyamoto, will be taking a 30 percent pay cut while nonspecific execs are losing 20% of their wage.

The pay cuts are ostensibly part of Nintendo management "taking responsibility" for poor 3DS sales, the cause of which Iwata speculated on last month. [http://www.escapistmagazine.com/news/view/111045-Nintendo-Admits-3DS-Sales-Are-Below-Expectations]

"The current situation," he said when asked about the 3DS' slow sales, "resulted from the fact that the delay of developing Nintendo 3DS software and launching online services, like Nintendo eShop, 3D video services and so forth, occurred simultaneously, so we could not meet people's high expectations that they had before its launch, and we did not see momentum after the launch."

Source: Kotaku Japan [http://www.kotaku.jp/2011/07/iwata_paycut.html] via Joystiq [http://www.joystiq.com/2011/07/29/iwata-taking-50-pay-cut-over-3ds-performance/]


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Jumwa

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What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.
 

The Wooster

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It's nice to see Nintendo not resting on their laurels for once.

That's pretty much what they've been doing this whole generation.
 

mysecondlife

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whoa... CEOs ACTUALLY didn't layoff hundreds of their employees just so they can keep their regular wage.
 

puffy786

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Usually, as cited in the news, CEOs plan for profit is
1. Destroy the Business you are working for.
2. Something (They know but I'm not a business expert)
3. PROFIT!!!

(Yeah I know that joke is overused)
 

figment of mind

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Jumwa said:
What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.
And we sit back and watch them squander that money while killing the company until every ounce of life is taken from it and they file bankrupcy and close down, letting tousands of workers lose their job and fucking them over while everyone else in the world who gave a crap looks at the goverment and asks, "Why didn't you guys do something to stop this?", and said CEO's go on to work as CEO or another high rank job at another company and bleed them dry...

Also, anyone else under the impression now that CEO's are vampires and that we should stake them?
 

CrazyCapnMorgan

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Jan 5, 2011
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Wait a minute...

Those who manage a company take responsibility and a pay decrease for failing to live up to the standards they profess? And the "little" guys are not being punished for their leader's inabilities?!

What kind of backwards universe did I just stumble into here?!?!?!?!

Wait, they aren't in America. OK, issue resolved.

OT: Just another reason that, though they have some weird practices (i.e. girls faces with their tounges out on toilet paper, animated porn, etc.) Japan has a more sophisticated and, dare I say, balanced business ethic than those in my country. Kudos to Nintendo CEOs for taking that initiative.
 

Not G. Ivingname

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Jumwa said:
What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.
Japanese business is more "honorable" in the name of forming good business relations. Sign a contract with a Japanese company, and they won't try to "change" the deal or not follow through. It has to do with the cultural background of the nation and their self image. They also don't want all their investors to die of a heart attack from the news.
 

Mariena

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It's incredible that they take some responsibility when things go bad instead of laying off 400 employees and giving themselves a big bonus.

Then again, you can't really complain with a yearly income of 1.7 million...........
 

mysecondlife

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figment of mind said:
Jumwa said:
What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.
And we sit back and watch them squander that money while killing the company until every ounce of life is taken from it and they file bankrupcy and close down, letting tousands of workers lose their job and fucking them over while everyone else in the world looks at the goverment and asks, "Why didn't you guys do something to stop this?", and said CEO's go on to work as CEO or another high rank job at another company and bleed them dry...

...and that's terrible. [http://tvtropes.org/pmwiki/pmwiki.php/Main/ptitle643yzv8u]

Also, anyone else under the impression now that CEO's are vampires and that we should stake them?
try wall street bankers using tax payer's bailout money to give themselves bonus after they drove America's economy to shitter. that always makes my blood boil.

American CEOs can go fuck themselves but I'd rather see those bankers burn at the stake.
 

Black Watch

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Sometimes, I clinch my 3DS in my hand as get down on my knees and scream at the heavens. All the while wondering why Ocarina of Time is the only good game on the system.

OT: It is nice to see that they didn't say: "OOPS! LOST PROFIT, FIRE EVERYONE!"
 

Vivi22

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Jumwa said:
What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!
While this is surprising, I think it surprised me more that his pay including bonuses before the cuts was only $1.7 million. A CEO of a company that's been practically printing money for five years wasn't being paid in the multiple tens, or even hundreds of millions? I didn't think companies like that existed.
 
Apr 28, 2008
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Jumwa said:
What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.
And then he lays off people anyway.

It's like the damn Twilight Zone.
 

EHKOS

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Feb 28, 2010
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It's so nice and refreshing to see this, and comming from Nintendo makes me smile even more. My hat is off to you Iwata!
 

Staskala

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Jumwa said:
What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.
That's normal in Japan, those who fucked up have to take responsibility.
It not necessarily a good thing though, in politics it leads to a nice game of "shifting the blame" before anyone gets chosen to take it.
Still better than the Western approach where the problem is fixed by no one admitting fault.
 

jawakiller

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Muhoohaha...

My plan to overthrow the bastards is starting to succeed.

Wait, that wasn't me. They did that to themselves. Well after making such a shitty system they don't need my help failing I guess.
 

thehorror2

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This kind of thing shouldn't be news. If we lived in a sane world, it wouldn't be. If a company finds itself in the position where people have to start taking pay cuts, executives (KOTICK!) should be the first on the chopping block. They're the group making the most money already, while also being the most likely culprits for the company as a whole doing poorly.
 

TitanAura

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Of all Nintendo's recent missteps, it's good to see they're not entirely evil and unsympathetic.
 

Arehexes

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*claps* a CEO who takes responsibility and shares the loss with the company he runs. T_T Nintendo sometimes I hate you but most of the time I love you
 

Frostbite3789

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You know, it's nice and all that he did this. But what kind of a world do we live where this is the oddity and we congratulate him for doing? "You accepted responsibility! We're so proud of you!"

It's disgusting we have to be proud of someone doing the minimum.
 

AquaAscension

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So a company that is known for making, let's say, "immature distractions" is acting way more mature than companies which essentially just play with Lincoln logs made of money all day? Maybe it's Japanese cultural values coming across here too, but damn. I have much more respect for a company who is willing to cut its top end salaries to compensate for failure. But this is just a post on the internet where there's way less paid than a dime a dozen so suddenly this entire tirade feels pointless when juxtaposed with the reality that execs in America took money handed out by the government and just pretended that business as usual passed. What. The. F....
 

Roofstone

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I approve of everyone making the same joke in different versions. o_O

And props to the CEO. Nice way to deal with the problem.
 

wooty

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Hmmmmm, nice to see execs taking the fall for failings, I applaud this.

Take note all you wanker bankers, this is real leadership
 

Low Key

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Any time I read a CEO takes a pay cut, I don't find it endearing at all. Oh, you mean he has to make do with only a half a million dollars? How poor and unfortunate of him. If only we all could be so lucky.
 

teebeeohh

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how very Japanese.
around these part CEOs react to poor sales by taking more coke, giving themselves a pay raise and wiring all their cash to a tax haven.
 

Saelune

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200 years ago, they would have committed Seppuku, if this was all self inflicted.
Assuming it is, then our American Bank CEOs could learn a lesson from them.
 

dyre

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It's a nice gesture, I suppose. $850k isn't too shabby though, even it's pocket change compared to what other CEOs of Nintendo-sized companies make.
 

starwarsgeek

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/clap
Nice to see the management take the hit instead of the little guys. Nintendo's going to be an interesting company to watch for a while.
 

orangeapples

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you mean it doesn't print money?

seriously now: For them to look at their numbers, see how they messed up and say, "We get a pay cut." takes balls. In America, when a company starts to do bad, the CEOs fire people, cut the pay of the people who work below them, then take their private jet to go on vacation. American CEOs will do anything they can to not take blame and get more money.

That's the American way.
 

natster43

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I am glad he is taking responsibility and not a large group of workers there. Hopefully things will start going up for them soon.
 

quantum mechanic

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This is pretty much what everyone is saying, but still, props to the Nintendo executives. I have never heard of something like this happening in the United States, at least without huge external (government or shareholder) pressure.
 

GeorgW

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Too bad for them, I like their CEOs, but you can't say it's not deserving. I like that they take responsibility, and wall street should take notice. Good on you Nintendo!
I have no doubt that their luck will return once the new Mario games come out and their salaries will go back up.
 

The Wooster

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Frostbite3789 said:
You know, it's nice and all that he did this. But what kind of a world do we live where this is the oddity and we congratulate him for doing? "You accepted responsibility! We're so proud of you!"

It's disgusting we have to be proud of someone doing the minimum.
It isn't the minimum, it's the right thing. He took half his pay. Granted, he still makes more per year than most people, but getting your pay halved is never, ever a good thing. This means that he's taking responsibility for his failure instead of pushing it on the lowly working class, which is a sign of great character that should be praised. More CEO's should take some responsibility for fucking up.

In the meantime, I hope this means Nintendo will do something to attract more third parties and release some great games that aren't made by them. Sure there were some on the Wii, but hopefully the Wii U will have more. If I were even semi-rich, upon hearing this news I would have rushed out and bought a 3DS.
 

Magikarp

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Nice to know that some people at the topp realise that they don't really need all that money.
Well done, Iwata. You have my respect.
 

Richard Allen

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Low Key said:
Any time I read a CEO takes a pay cut, I don't find it endearing at all. Oh, you mean he has to make do with only a half a million dollars? How poor and unfortunate of him. If only we all could be so lucky.
If you're an idiot a paycut of about %50 percent can screw up your life just as much as not having a lot of money in the first place (no sympathy for the devil type thing) but it could hurt. This guy clearly has lead nintendo well the past 10 years and a a salary of 1.8 mill is nothing in that posistion, I'm sure he earned every cent, and it's a classy move that on the first big mistake this isn't turning into a fit about pay.

He's taking the responsible approach and should be credited for that, is he going to starve clearly not but after leading a company like he has and deserves $$$ because he did his job well. It came off as if you want to give him shit because he's payed more then you and jealousy. People can earn that type of money and saying he doesn't' deserve a clap for taking responsibility and a huge pay cut is silly
 

witheringsanity

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ON TOPIC: wow. it seems Nintendo may be sealing it's own fate with all these bad decisions. launch the 3DS in march (not during christmas season???) with a crappy lineup of games and no online shop. then at E3, announce the most ridiculous idea for a new system since the Virtual Boy, which is near guaranteed to fail since A: casual gamers dont want to spend $350-400 on a video game system (and they already own the Wii), and B: core gamers dont want gimmicky crap. I really hope they get their act together soon.

OFF TOPIC: i HAAAAAAATE these F#$KING captcha's with G*DDAMN F$%KING ADVERTISEMENTS. this is seriously way worse than VEVO's ads and the meebo toolbar combined. so to post in a forum, i have to click an add, and then type something into a box that pertains to the ad, like "pepsi is the best!" or "no money down!!!" or "da da da da da i'm lovin it!" it fills me with the rage of a thousand suns. i'm seriously considering leaving this forum forever if this crap continues.
 

Denamic

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So what's the big deal?
He's rich.
Big deal if his income is cut in half when he's already sitting on a fortune.
He could retire right now and his money would last down to his great grandchildren.
This is not some kind of noble 'self-sacrifice'.
If a 'normal' person gives $100 to charity, they're generous.
If a rich person does it, who cares, it's spare change for them.
 

Sylocat

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Nov 13, 2007
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A CEO taking a pay cut when profits are down, instead of giving himself a huge bonus?

Nintendo is a company truly worthy of respect.

Hopefully their next system will actually sell well.
 

Epona

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Not G. Ivingname said:
Jumwa said:
What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.
Japanese business is more "honorable" in the name of forming good business relations. Sign a contract with a Japanese company, and they won't try to "change" the deal or not follow through. It has to do with the cultural background of the nation and their self image. They also don't want all their investors to die of a heart attack from the news.
Apparently you never heard the story about how the Sony Playstation came into existence?
 

devotedsniper

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It's hardly surprising the 3DS isn't making that much money considering everytime they release a DS it doesn't do much different from the original one, the changes are what? a webcam, lighter, bigger screen, and now 3d (not sure on this but doesnt the webcam one have a web browser too? i dont know i still have the original DS), in the current situation most people aren't willing to pay £2-300 on a DS which does mostly the same as the older ones.

I expect much of the same from the new Wii if i'm honest (going off what we've been shown) considering the only thing they've shown us so far is a new controller and hd graphics (which the other current gen consoles already have been doing for 6 years now).
 

The Wooster

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Jul 15, 2008
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Jumwa said:
What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.
If only the rest of the private sector thought the same as the Japanese; at least there you get shit taken from you if you mess up.
 

aldowyn

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I may not agree with a lot of their ideas lately, but I have to say Iwata and company are just awesome dudes. And, like others have said above... that was a TINY salary to begin with. 1.8 million, for the CEO of one of the biggest companies in one of the most valuable entertainment properties in the WORLD? Halving that, that's less than a million. That's not counting what actually has to, you know, spend.

It's still a lot, but it's tiny when you consider the circumstances.
 

Zaik

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I'm kind of glad that Nintendo is finally suffering for failing to create a new idea other than Wii Sports since the Nintendo 64.

I was beginning to think it would never get what should be coming :/.
 

Kenjitsuka

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"The pay cuts are ostensibly part of Nintendo management "taking responsibility" for poor 3DS sales"

Now that's noble, responsible and a great thing.
It's just extremely sad that this highlights the fact that all the other fatcat, corrupt slimes that call themselves top management NEVER do stuff like that.
They demand a full years salary plus bonusses when they are being fired for righteous reasons.

The world is just shit... :(
 

New Frontiersman

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I'm sorry to hear the 3DS isn't selling well, but I'm glad to hear that Iwata is taking responsibility for the less than stellar sales of the 3DS. I wish CEOs would take that kind of Corporate responsibility here in the US.

witheringsanity said:
OFF TOPIC: i HAAAAAAATE these F#$KING captcha's with G*DDAMN F$%KING ADVERTISEMENTS. this is seriously way worse than VEVO's ads and the meebo toolbar combined. so to post in a forum, i have to click an add, and then type something into a box that pertains to the ad, like "pepsi is the best!" or "no money down!!!" or "da da da da da i'm lovin it!" it fills me with the rage of a thousand suns. i'm seriously considering leaving this forum forever if this crap continues.
I've been waiting to bring this up for a while now, but I agree these adds are really annoying. Something really should be done about it because they are really ruining the Escapist.
 

The Wooster

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Jul 15, 2008
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Kenjitsuka said:
"The pay cuts are ostensibly part of Nintendo management "taking responsibility" for poor 3DS sales"

Now that's noble, responsible and a great thing.
It's just extremely sad that this highlights the fact that all the other fatcat, corrupt slimes that call themselves top management NEVER do stuff like that.
They demand a full years salary plus bonusses when they are being fired for righteous reasons.

The world is just shit... :(
This. I love the fact that a high-paid man is willing to take some perspective on board and accept that he can easily do without a vast portion of his huge paycheck.
 

Xman490

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May 29, 2010
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It's rather sad to see Nintendo fall so bad, but it makes sense. Regular people just don't find the value in having the newest gadget (3DS) when they can have one that's somewhat less advanced (DS) for a much smaller price. On the other hand, gamers like me don't find the value in settling for second best (best being PSVita; HD portable = win).
 

Sporky111

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If only all CEOs would take responsibility like this. I'm sure if this type of thing had happened to Microsoft or Sony then they would start laying people off and bringing salary cuts all around, except of course for the executives.

Almost makes me feel bad that there's no way in hell I'm going to buy a WiiU or 3DS.
 

MeatMachine

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Nintendo of America makes me depressed.

Nintendo of Japan, however, continues to have my support.
 

IronicBeet

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You know, I try to hate Nintendo for all the crap they've got on the Wii and the remake of OoT, but then they go and do shit like this.

Damn Nintendo, why you gotta be so willing to own up to your mistakes?
 

Genixma

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US Government or rather I should say my Government...or rather CEOs of my countries companies? Take notes.
 

8-Bit Grin

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esperandote said:
They got balls, props to them. On the other hand, making 850k a year isn't that little.
It might already have been pointed out, but having your usual pay cut would mean cutting back on things that seemed inconsquential before.

It'll be pretty different in the Iwata house.
 

funguy2121

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Jumwa said:
What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.
I may be chided for submitting anecdotal evidence, particularly of the variety provided by an elder sibling, but what the Hell...

My sister gets to do quite a bit of travelling (read: globetrotting) in her job. She said that the culture is so different in Japan because they take that honor shit seriously. Since she is one of the lead lobbyists for a major pharmaceutical company, she used this hypothetical example.

An American animal pharmaceutical company creates a salve that is applied to the back of a dog's ears. While the product is being vetted by the FDA (that's Food and Drug Administration to you non-Yanks out there), a dog owner who's agreed to test the product fails to remove the salve at the appropriate time, and absently allows his toddler to play with the dog. The product kills the child once it gets into her system. A lawsuit may occur, which will slow the vetting and eventual release of the product, but once the fault is established as the negligence of the father, the company will do just fine, and in all likelihood no one will use their job, save for the person who elected the father for the trial. The same thing happens with a Japanese product, and the CEO resigns in shame. No concessions are made for the sole blame belonging to the negligent father. Is that right? I don't think so, but apparently the Japanese disagree.

On topic: what I do agree with is Nintendo taking ownership of their own fuck-ups. They are both a monumentally stubborn and a ridiculously creative, risk-taking company (sticking with the cartridge format, Super Mario 64, and the Wii, respectively), so fuck-ups are a matter of time for them. It would appear that money alone is not the bottom line for Nintendo. Good on them.

Also: 1.7 Million for the head of the one company most synonymous with gaming? That's it?
 

funguy2121

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koroem said:
I wonder what kind of pay cut they will take when the Wii U releases....
...cut and paste from 2005, with the letter "U" added and no discernible sense of irony.
 

funguy2121

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Denamic said:
So what's the big deal?
He's rich.
Big deal if his income is cut in half when he's already sitting on a fortune.
He could retire right now and his money would last down to his great grandchildren.
This is not some kind of noble 'self-sacrifice'.
If a 'normal' person gives $100 to charity, they're generous.
If a rich person does it, who cares, it's spare change for them.
Tell that to the anesthesiologist who tips me $5 every day for a cup of coffee.

And to all the rich people who give away a Helluvah lot more than $100 every year to charity, including both those who do it for their conscience and those who do it for the tax cut. Take away that and the churches, and there are no more charities.
 

coolkirb

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I think the problem with the 3ds is marketing, its being sold as the DS with 3d instead of as its own system, if you have actually seen the improvements to it are enough to say comparing the 3ds to the DS is like comparing the gamboy to the gameboy advance, their is enough improvemt in hardware to justify buying it as it can now play truely 3d games at a respectible id say game cube lv quality and the the wii menu like interface is realy good. its just Nintendo has made some poor marketing decisions and should have launched on July 1st instead of march, because then people could get Zelda and street fighter at launch and only have to waite a little while for a cascade of good games
 

funguy2121

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Sorry for all the chatter. I just wanted to ask...


...and no one has a Reggie joke for this? Sad...
 

kebab4you

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Thought they would learn after there first failed 3-d console, guess you can't learn an old dog to sit, but atleast they are acknowledged it themselves.
 

The Wooster

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figment of mind said:
Jumwa said:
What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.
And we sit back and watch them squander that money while killing the company until every ounce of life is taken from it and they file bankrupcy and close down, letting tousands of workers lose their job and fucking them over while everyone else in the world who gave a crap looks at the goverment and asks, "Why didn't you guys do something to stop this?", and said CEO's go on to work as CEO or another high rank job at another company and bleed them dry...

Also, anyone else under the impression now that CEO's are vampires and that we should stake them?
You do realise that most CEOs of companies that needed bailing out got canned right? Ya I agree CEOs should not be giving themselves a record size bonus while at the same time reporting record size losses. What you do have to realise is that a CEO is one of the least stable jobs out there.
 

Richard Allen

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SgtFoley said:
figment of mind said:
Jumwa said:
What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.
And we sit back and watch them squander that money while killing the company until every ounce of life is taken from it and they file bankrupcy and close down, letting tousands of workers lose their job and fucking them over while everyone else in the world who gave a crap looks at the goverment and asks, "Why didn't you guys do something to stop this?", and said CEO's go on to work as CEO or another high rank job at another company and bleed them dry...

Also, anyone else under the impression now that CEO's are vampires and that we should stake them?
You do realise that most CEOs of companies that needed bailing out got canned right? Ya I agree CEOs should not be giving themselves a record size bonus while at the same time reporting record size losses. What you do have to realise is that a CEO is one of the least stable jobs out there.
Umm no, most ceo's were not fired, nor did anything happen to most. CEO's unstable job? Yea right.
 

remnant_phoenix

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Jumwa said:
What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.
HAHA! Ninja'd...

Seriously, if CEOs and politicians in the States were more willing to take the same approach as Nintendo during hard financial times, maybe the U.S. economy wouldn't be creeping towards collapse the way that it is.
 

Fiz_The_Toaster

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Good for Nintendo, for a while there I was beginning to think that they don't care anymore, but I'm glad they're actually taking some responsibility for this.

Much respect Iwata.
 

The Wooster

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little did the escapists know that they were traveling through another dimension...

well i would like to say thank god someone knows how to take responsibility for ther actions instead of blaming others. but time and time again has shown me to wait before i cheer.

but in case he doesnt suddenly change his mind i'd say.
kudos to you sir!
 

Charli

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Well you can't see me but I am applauding behind my monitor, Good show Nintendo Exec's.
 

Arafiro

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koroem said:
I wonder what kind of pay cut they will take when the Wii U releases....
This.
Hopefully they'll learn from this and go back to the drawing board with that mistake of a console concept.
 

For.I.Am.Mad

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The pay cut IS a gesture of some sort, I guess, but in the grand scheme of things it doesn't do anything and won't be the thing to bring Nintendo's revenue back up. Hardware and software is the key.
 

Callate

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Wow. A CEO actually taking personal responsibility for his company's market failures. That's kind of noble. I really feel like I should do something to encourage this kind of integrity and...

...Oh, [email protected]%&. I'm going to have to get a 3DS, aren't I...?
 

RamirezDoEverything

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This is what a real person does!

This man deserves a medal, instead of laying off workers, he cuts himself in half, sure he's still living wealthy, but.. wow.
 

Arizona Kyle

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mysecondlife said:
whoa... CEOs ACTUALLY didn't layoff hundreds of their employees just so they can keep their regular wage.
well to be fair Nintendo is a Japaneses company so they do have morals lol
 

Low Key

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Richard Allen said:
Low Key said:
Any time I read a CEO takes a pay cut, I don't find it endearing at all. Oh, you mean he has to make do with only a half a million dollars? How poor and unfortunate of him. If only we all could be so lucky.
If you're an idiot a paycut of about %50 percent can screw up your life just as much as not having a lot of money in the first place (no sympathy for the devil type thing) but it could hurt. This guy clearly has lead nintendo well the past 10 years and a a salary of 1.8 mill is nothing in that posistion, I'm sure he earned every cent, and it's a classy move that on the first big mistake this isn't turning into a fit about pay.

He's taking the responsible approach and should be credited for that, is he going to starve clearly not but after leading a company like he has and deserves $$$ because he did his job well. It came off as if you want to give him shit because he's payed more then you and jealousy. People can earn that type of money and saying he doesn't' deserve a clap for taking responsibility and a huge pay cut is silly
You can think what you want, but a CEO taking a pay cut and still making 6 figures doesn't impress me. If you want to commend him for it, go right ahead, but just because you do doesn't mean I have to. I have no need to be jealous. I make enough money and live within my means.
 

Thorvan

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A true gentleman among giants. Mr. Iwata, I applaud you, and wish you the best of luck.
 

The Lugz

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weeny eyestrain-o-vision is not what the masses want and kids don't have the funds to pay for the games

= severe niche market

prettymuch sums up recent handheld platform issues,
but the honest truth from my point of view is i'd rather play games on a smartphone in the bus station than street-fighter or Mario or something on a separate device that i also have to carry around, and then there's the 3d... why? why is everyone obsessed with 3d? it's not even real depth we already have that what were being sold now is a fake pop up book depth of field polarising fish-eye filter that will push your perspective around and eventually give you a migraine or so badly screw up your depth perception that you have trouble touching the ends of your fingers together

i'm in the first category, by the way.
 

Hungry Donner

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Japan's economy certainly has its problems, but their CEOs certainly seem far more ready to accept responsibility like this (and from what I've been told even when times are good their salaries aren't too ostentatious compared to American CEOs).
 

Not G. Ivingname

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Crono1973 said:
Not G. Ivingname said:
Jumwa said:
What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.
Japanese business is more "honorable" in the name of forming good business relations. Sign a contract with a Japanese company, and they won't try to "change" the deal or not follow through. It has to do with the cultural background of the nation and their self image. They also don't want all their investors to die of a heart attack from the news.
Apparently you never heard the story about how the Sony Playstation came into existence?
Yeah, Sony made the playstation partly as their honor bound revenge against Nintendo's disownerable acts, and considering how well the Sony systems did compared to the Nintendo (till the Wii) they succeed.
 

Gladiateher

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What struck me odd about this story is not that he took the pay cut, that's extremely admirable though, but that he was making less than two million a year as CEO of Nintendo? That's truly surprising to me.
 

duchaked

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well it's nice to see some people take responsibility. props to Nintendo's CEO...or Japanese something or another :p
 

kasperbbs

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Well thats odd, most CEO's would rather fire half of their staff before taking a cut from their salary. I wish my government did things this way, so they would actually try to improve things here instead of thinking of o way how to get more money or what expensive car to rent to drive to work on our taxes. I have no interest in nintendos products but i like the way they do business, hopefully 3DS will get some games soon and wont be just an expensive 3D demo.
 

Silva

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So he's getting richer a bit slower.

Yes, it's better than the American model of things. But in a serious supranational company like Nintendo, one would idealise the sacking of incompetent CEOs, rather than the lowering of pay packet size.

I understand that Iwata has some charisma to his approaches though, so I guess it is a fair compromise in this case.
 

Void Droid

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*Respectfully bows to Satoru Iwata*

Now I just hope that was respectful and not racist.
 

Reincarnatedwolfgod

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wow that impressive a ceo taking responsibility and a pay cut... if only more american ceo's did that. that being said he does deserve a little respect. he is still making good money but less and that means something.

i would like to see an american ceo do this next but will never happen because of greed.

in unrelated new the old captcha it back sort of better then the one that replaced it earlier
 

Robert Abramski

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Seems the Japanese have a better idea of what constitutes austerity measures. Fifty percent is quite a pay cut. I wish some of the banks would just stop giving themselves bonuses. We need to tell the executives that if they share in the successes, they need to share in the faults as well. http://www.ceopaycut.org