Investing
Most Overpaid CEO Of The Day: Alan F. Schultz Of Valassis (VCI)
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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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