New Borders CEO: $775,000 a year, another million-plus in bonuses

The detail that leapt out at me in this NYT interview with the new CEO of Borders is his compensation package:

Late yesterday the company said in a securities filing that Mr. Jones would be paid a base salary of $775,000 a year with the opportunity to earn a maximum annual bonus of $1.2 million.

That's peanuts compared to the six million dollars in stock he made as CEO of Saks Dept. Stores, but it's a lot more than store managers are getting, since nobody got bonuses at Borders this year -- not the president, not the individual store managers. I wonder how they feel about Jones.

Borders, executive compensation