Tuesday, March 10, 2015

Larry Ellison pays the lowest-ranking sailors on his America's Cup team $300,000 a year, court filings show

A wrongful termination suit filed by a former sailor on Oracle Team USA is revealing secrets about how billionaire Larry Ellison runs his championship America's Cup sailing team. According to court filings shared by the Wall Street Journal, fired Oracle sailor Joe Spooner was being paid $25,000 a month — or $300,000 a year — as compensation for his work as a grinder. There are six grinders on a typical 12-person sailing team, and they tend to be the lowest-paid of the bunch. Sailors responsible...-> read more

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