Cendant C.E.O. Gets $12.3 M. Bonus

MarketWatch is reporting that today’s filings, Cendant–the real-estate and travel conglomerate that owns, besides everything else, The Corcoran Group–disclosed the $12.3 million bonus they’ve just approved for C.E.O. Henry Silverman for performance in 2005.

A lot of dough! But not as much as last year.

For 2004, Silverman got a $15.3-million bonus, according to the company’s most recent annual proxy. The year before that, he received a $13.8-million bonus.

So what gives?

On Monday, Cendant reported 2005 net income slipped 35.6% to $1.34 billion, or $1.26 a share, despite higher revenue.

- Tom McGeveran