Schwarzenegger making millions as muscle mag editor

[-Cp]

More power to him:


http://news.yahoo.com/news?tmpl=story&cid=583&e=4&u=/nm/20050714/od_nm/life_schwarzenegger_dc

 

[archangel]

More power to him:


http://news.yahoo.com/news?tmpl=story&cid=583&e=4&u=/nm/20050714/od_nm/life_schwarzenegger_dc

as you said...so what...he did give up his California Governors salary...more than the idiots who are condeming him...as if being a editor on a jock mag is a conflict of interest anyway...since when were lib's interested in self improvement?

 

[GotZoom]

Technically he is a "consultant" with no set salary. He gets 1 percent of the advertising revenue (not to drop below 1 million dollars a year).

SACRAMENTO — Two days before he was sworn into office, Gov. Arnold Schwarzenegger accepted a consulting job paying an estimated $8 million over five years to "further the business objectives" of a national publisher of health and bodybuilding magazines.

The contract pays Schwarzenegger 1% of the magazines' advertising revenue, much of which comes from makers of nutritional supplements.

The agreement estimates that the governor's company will receive $2.15 million in fiscal year 2006; the same amounts in '07 and '08; and $1.7 million in '09. Those sums exceed the salary of the chairman and CEO of American Media, David J. Pecker, whose base pay this year is listed at $1.5 million.

American Media has also agreed to contribute $1.5 million over six years to one of the governor's tax-exempt groups: a physical fitness council launched this summer at Disney's California Adventure theme park. The chairman of the council is Austin M. Beutner, a director of American Media.

As a consultant, Schwarzenegger's role includes "advising on the direction of the" magazines and "otherwise helping in various ways to further the business objectives of the Weider business," the contract shows.

Entire article: http://msnbc.msn.com/id/8569218/

And to echo my esteemed collegues...So What?