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AMD denies Ruiz raise, says it's just a misunderstanding


Last week, we reported that Hector Ruiz -- CEO of chipmaker AMD -- had received a 7.4-percent raise even though the company has been struggling as of late and its stock has dropped considerably over the past year. Now, according to reports, the rumors of the pay increase have turned out to be the product of a misinterpreted SEC filing -- or so say the public relations people at Advanced Micro Devices. Apparently, the confusion stems from a pay raise that the honcho received in 2006; somehow the change in figures halfway through the year led to a proxy statement of $1,046,358 -- the supposed new salary. The "clarification" still leaves a few questions unanswered, but at least for now we can sleep soundly knowing that Hector Ruiz, the highest paid CEO in the semiconductor industry, will only be earning a paltry $1,124,000 this year.

AMD's financial woes don't stop Hector Ruiz from nabbing a raise


In most jobs, if you cost the company money and generally screw up, you can expect a solid dressing-down from the management and then a swift boot out the door. Unless you run a major corporation like AMD. If you're Hector Ruiz, CEO of the ailing chipmaker, you can freely and openly admit to fouling up the works and still get yourself a tidy raise, it seems. "We blew it and we're very humbled by it and we learned from it and we're not going to do it again," Ruiz said on Thursday, just before the board of directors raised his $1,046,358 salary to $1,124,000 -- a 7.4-percent gain. Oh, did we mention the nearly $13 million in stock options too? Hey, just because you tacked on $3.7 billion dollars in long term debt and your stock plummeted 56.2-percent doesn't mean you're doing a bad job... although we can't think of another way to describe it.

TiVo fundraising with self-branded toasters / snowglobes


While just about everyone has experienced their fair share of ups and downs with TiVo, it's great to see the smiley TV box raising funds for two meaningful causes. The firm is offering up self-branded toasters and snowglobes (for $45 and $28, respectively) to its employees in order to raise money for the James Kim Memorial Fund and The Katrina Fund. Of course, it could be slightly difficult to get your hands on either of these adornments if you can't badge into TiVo HQ everyday, but perhaps a saintly reader could be a liaison for a group buy? Regardless, even if you're still using one of the eight toasters you got as a graduation gift or you've severed all ties with TiVo (and jumped ship), here's to lending a helping hand to those in need. Keep reading for a taste of TiVo toast...

[Via PVRWire]



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