If you're one of Walmart's top five officers, the good news is that in fiscal year 2009 together you took in $65 million. The bad news is that if you happened to be Michael Duke you took a huge pay cut over the previous year, taking home a measley $19.2 million. From 24/7 Wall Street:
The top five officers at Wal-Mart Stores made $65 million in aggregate in the company’s fiscal year ending January 31. Shareholders did not do quite as well. Wal-Mart shares rose only 10% over the same period. The DJIA was up 40%, and the stock of Wal-Mart’s smaller competitor Target Corporation was higher by 51%. Wal-Mart’s lack of success is primarily because of two weaknesses in the firm’s operation. Sales at its largest division, Wal-Mart US, which is 63% of the company’s revenue, have flat lined. Revenues at the unit were $258.2 billion in the last fiscal and $255.3 billion the year before. The part of the Wal-Mart that has been growing rapidly for the last decade, its international operations, is not growing at all any more. For the year ending January 31 overseas revenues were $100.1 billion compared to $98.8 billion in the same period last year. Wal-Mart is concerned enough about its lack of growth in America that it has begun a period of significantly discounting merchandise to help its faltering “Everyday Low Prices” image. Analysts are worried that the middle class customers Wal-Mart picked up during the recession can afford to move back up to big box retailers for the more affluent, companies like Costco.
And poor Mike? From Today's Hot News:
Wal-Mart Stores CEO Michael Duke received a compensation package worth a bit more than $19 million in the fiscal year ended in January, down from $28.2 million a year earlier when he received a big stock award related to his promotion to chief executive. Duke replaced Lee Scott, who retired as CEO as of January 31, 2009. His salary was $1.2 million in the latest fiscal year, according to the annual proxy statement of the world’s largest retailer, up from $1.1 million a year earlier. He received stock awards of $12.7 million, down from $23.7 million a year earlier. He also received non-equity incentive payments of $4.8 million in fiscal 2010 and $3.1 million in fiscal 2009. In fiscal 2009, Duke received $11.4 million in one-time stock awards that will vest over the next several years, Wal-Mart spokesman Greg Rossiter said, adding that without the award, Duke’s compensation rose to about $19.2 million in fiscal 2010 from about $17 million in fiscal 2009.
How do you think he tightened his belt? Jeff Hess: Have Coffee Will Write.

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