Most Overpaid CEO Of The Day: Alan F. Schultz Of Valassis (VCI)
Valassis (VCI), the media and marketing services companies, has done an astonishingly poor jobs for its shareholders. The stock is down from a 52-week high of $16.80 to $1.78. The firm’s third quarter earnings only made the situation worse. VCI…
Valassis (VCI), the media and marketing services companies, has done an astonishingly poor jobs for its shareholders. The stock is down from a 52-week high of $16.80 to $1.78. The firm’s third quarter earnings only made the situation worse.
VCI reported quarterly revenue of $563.7 million down 7.2% from $607.2 million for the prior year quarter. The firm also said it had a net loss of $5.2 million or $.11 per share, for the third quarter compared to net earnings of $16.4 million, or $.34 per share, in the year ago period.
The company also lowered its forecast for the balance of the year.
Alan F. Schultz, Valassis Chairman, President and Chief Executive Officer made $780,000 as a base salary last year. His total compensation was over $2.8 million. He and other senior officers get perks including car allowances and country club memberships.
The VCI market cap is only $89 million and falling. Nest year, Schlultz may be making more than the company does.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
