Shapiro gets 30% raise despite Six Flags' problems

Posted | Contributed by Jeff

A filing made Monday with the Securities and Exchange Commission said Mark Shapiro, who took over as president and CEO of Six Flags last December, will be paid $1.3 million next year. His previous employment agreement set Shapiro's salary at $1 million. The new agreement pumps up Shapiro's target bonus to $1.3 million from $1 million, and increases his maximum bonus to $2.6 million instead of 200 percent of his base salary, or $2 million.

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Here's a place selling them for about $9 a piece. 33,333 hissing cockroaches please.

At Six Flags, one cockroach = one free Qbot.
How many Qbots = $300,000?
Oh yeah, they only count if he eats them.

Are you guys commies or something? This is America and we are capitalists: any rational person would accept a $300k raise whether it's justified or not, so long as it's legal.

It's not particularly rational when you're leading a failing company where you're asking people to deal with a pay freeze. It has nothing to do with communism, it has to do with being a smart leader.

I think the ex-ceo of Enron will be out in a few years, I'm thinking theres a great person to take over the six Flags company. How much worse could he do?

lettuce, I'm all for capitalism (within reason). The thing about it though, is you have to HAVE the money first to spend it or offer it to someone else.

Maybe Shapiro's raise is only 0.0002 of the company's debt, but it represents a much higher percentage of the company's revenue, since that will probably be less than a billion this year. In fact, Shapiro's raise and bonus increase will be closer to 0.0009 of Six Flags revenue-- or about one dollar out of every 1111 dollars the company took in this year. That's the INCREASE, and doesn't include his signing bonus of 5 million and his base salary of one million and bonus of 2 million.

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