Sony CEO Makes $8.8 Million For Driving Company Into The Ground (247wallst.com)

Sony SNE CEO Sir Howard Stringer spends his time jet setting among his offices and homes in Tokyo, New York, and his native Wales. Sony has lost money two years in a row as he has made his rounds from place to place. Today, the company disclosed that he made $8.8 million last year for his unsuccessful labors. Sony has not only lost money, it has lost its way. Once the “Apple” of consumer electronics, is had immensely successful franchises like the PS3 and Walkman. It does not have an iconic consumer device any more and its PS3 is usually hammered in monthly sales by the Microsoft MSFT Xbox 360 and Nintendo Wii. Stringer has made a number of strategic mistakes and will continue to pay for them. For instance, he failed to cement the company’s position in the highly profitable game console business. Sony’s consumer electronics business — PCs, television screens, and digital cameras — also is facing larger and often lower cost producers. To read the rest of this article, click here.