According to an Associated Press analysis, Time Warner Cable CEO Glenn Britt received over $14 million in compensation last year in salary, stock, bonuses, and benefits. And this was down 8 percent from last year.
…. Britt received a salary of $1 million last year, unchanged from 2007, and a performance-based bonus of $6.4 million, down from $7.8 million a year earlier, according to a Securities and Exchange Commission filing.
He received other compensation worth over $82,500, which included more than $25,000 in life insurance premiums, a car allowance and a company savings plan match.
Britt also received nearly 104,000 restricted stock units worth $2.86 million on the date they were granted. He received 374,610 stock options as well with an exercise price of $27.51, worth $4 million when they were granted on March 3, 2008. However, the options are currently worth less given that Time Warner Cable shares closed at $27.37 Monday, slightly below the exercise price.
It’s interesting to note that Wilson built their own triple-play (voice, video, data) fiber network that will serve them for the next twenty years all for the cost of just two years of Glenn Britt’s compensation.
This is a company that needs protection from municipal broadband systems. Yeah, right.
I wonder how much it would take to hook up a city like, say, Durham, or Chapel Hill, or even Carborro. I bet Carborro could be done for less than Wilson.
Our elected officials really need to be made aware that Internet access is the new utility, just like water and sewer.