The rises awarded by Rupert and James Murdoch to themselves are a blatant slap in the face for British Law.
As UK police arrested a 15th person yesterday in connection with the Newscorp Hackgate scandal, accounts filed in the US show that Chief Executive Rupert Murdoch’s total compensation rose by 47% to $33.3 million in the 2011 fiscal year. In what must have been one of the most humble days of his life, Rupert Murdoch boosted his own pay still further with an eye-watering $12.5 million bonus….and $8.5 million in stock awards.
Murdoch’s son James, who has been under pressure since the UK phone scandal erupted at Wapping-Liars-on-Thames (where he is the CEO, but cannot remember anything about the business) saw his total compensation rise by more than 73% to $17.9 million.
As he vernacular would have it, these people are taking the piss.