Idealab Fighting For Survival

from the how-much-longer-can-they-hold-on? dept

Yet another article about the spectacular failure of Idealab. This one has a few more details about what's been happening lately - including that Bill Gross is heavily in debt and may be close to personal bankruptcy. It also points out that Gross had his salary increased from $250,000 to $766,667 and his fiancee had her salary raised from $190,000 to $616,667. The company claims that it gave them both such large salary increases for "guiding the company through difficult times." It's tough not to laugh out loud reading that. What a great job. Destroy a company that's worth $10 billion and be given a huge raise (more than tripling your salary) as a thank you for dealing with the "difficult times". Sign me up for that job.