Categories: OLD Media Moves

Exec pay down at TheStreet.com, but not for Cramer

Total compensation for the top executives at financial news web site TheStreet.com fell slightly in 2005 as the CEO and others received smaller bonuses than they did in 2004, according to a proxy statement filed with the Securities and Exchange Commission.

However, co-founder Jim Cramer, whose CNBC show Mad Money is seen every night, saw his salary increase dramatically, according to the proxy. Cramer’s salary was increased from $400,000 to $500,000 annually for 2005, $750,000 for fiscal 2006 and will be increased to $1 million for fiscal 2007. In addition, he will continue to be paid the radio talent fee — currently $450,000 per year — paid to TheStreet.com by CBS Radio Inc. under the company’s January 2006 radio agreement.

CEO Thomas J. Clarke Jr.’s base salary remained at $356,000 in 2005, but his bonus fell to $124,600 from $338,200. However, in January 2006, Clarke was granted 45,000 restricted stock units pursuant to his newly executed 2006 employment agreement with the company.

President James Lonergan’s salary rose to $275,000 from $265,000 in 2004, but his bonus dropped to $96,250 from $251,750.

Chief Financial Officer Lisa Mogensen, who left the company in March, received a salary of $245,000, up from her 2004 salary of $230,000. Her bonus, however, also fell, to $85,750 from $218,500.

The proxy, which can be read here, also noted that Clarke’s new base salary has been bumped up to $410,000, and he is eligible to receive a bonus of up to 75 percent of his salary.

View Comments

  • Just more proof that corporate whoredom pays off. Cramer was on Meet the Press Sunday and sat next to an oil company flack. The only difference between the two is that Cramer was shorter and not quite as bright. He defended the oil companies' obscene profit-taking and claimed that former Exxon CEO Lee Raymond earned his $400 million golden parachute. Oh and I almost forgot the best part -- Cramer cited Walmart sales figures for April going up 6 percent as proof that most people aren't feeling any real pain at the gas pump. What a card.

Recent Posts

PCWorld executive editor Ung dies at 58

PCWorld executive editor Gordon Mah Ung, a tireless journalist we once described as a founding father…

11 hours ago

CNBC taps Sullivan as “Power Lunch” co-anchor

CNBC senior vice president Dan Colarusso sent out the following on Monday: Before this year comes to…

2 days ago

Business Insider hires Brooks as standards editor

Business Insider editor in chief Jamie Heller sent out the following on Monday: I'm excited to share…

2 days ago

Is this the end of CoinDesk as we know it?

Former CoinDesk editorial staffer Michael McSweeney writes about the recent happenings at the cryptocurrency news site, where…

2 days ago

LinkedIn finance editor Singh departs

Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…

3 days ago

Washington Post announces start of third newsroom

Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…

4 days ago