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Big Bucks As Midway Crumbled

The Game Reviews has some interesting insights from recent financial reports from Midway Games, which was recently sold and devalued, suffering the threat of bankruptcy and job cuts. They point out that amid all this, the company still has one executive making over a half-million dollars a year, and perhaps more interesting is the compensation package earned by the CEO that captained this ship onto the rocks:

According to filings with the SEC, former President and CEO David F. Zucker made over $4.5 million in the past two years. This includes over $3 million in stock options and sold stock. Since 2003, Zucker has made just under $11 million.

The filings address his massively disproportionate compensation specifically, stating that extra compensation was awarded in order “to motivate Mr. Zucker to devote all of his energies to the company.” Since 2006, Midway’s stock value has dropped from nearly $23 to 18 cents. Zucker left Midway in March.

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