Lets see, they are killing you guys in operations, killing your pensions, screwing with your MIP, beating you up on conference calls, threatening your jobs, just so a guy that came from roadnet technologies can run the company that Casey designed to be a partnership, can pay himself 13 million dollars this year. Keep hitting those numbers boys and see who else you can get to take a management job.
Davis Paycheck
- Thread starter Bm01555
- Start date
Catatonic
Nine Lives
Couple of things:
1) He came from IIMorrow.
2) He does not set his salary ... that is set by an outside agency under the guidance of the Board.
Other than that, seems OK.
DS
Fenderbender
Translated:
He came from tomorrow
The board gets 5 million a year to decide who gets 13
this is all determined by aliens under the influence of compliance.
Davis is his alter ego,They all live on a secret planet.
It's hidden from view behind uranus,
Scientists and astronomers alike,are paid well not to publicise it's existence.
Planet tomorrow exploded and his parents, Jim and Claude rocketed him to
Greed.
Other than that,seems OK
rod
Retired 22 years
Translated:
He came from tomorrow
The board gets 5 million a year to decide who gets 13
this is all determined by aliens under the influence of compliance.
Davis is his alter ego,They all live on a secret planet.
It's hidden from view behind uranus,
Scientists and astronomers alike,are paid well not to publicise it's existence.
Planet tomorrow exploded and his parents, Jim and Claude rocketed him to
Greed.
Other than that,seems OK
Especially the one about the board getting 5 million a year to determine who gets 13
curiousbrain
Well-Known Member
As a public company, the rules are not set by employees - they are set by stockholders; if the stockholders happen to be employees, that is just a quirk of fate. If you have a real problem with his salary, take it up at a shareholders meeting, or call in on the quarterly earnings conference call.
That doesn't mean I don't curse out the corporate culture when I have a really bad day, but the reality is that if you want to change things, the system is set up so that you need to invest in the company you want to change - financially, with your time, or otherwise.
Catatonic
Nine Lives
Translated:
He came from tomorrow
The board gets 5 million a year to decide who gets 13
this is all determined by aliens under the influence of compliance.
Davis is his alter ego,They all live on a secret planet.
It's hidden from view behind uranus,
Scientists and astronomers alike,are paid well not to publicise it's existence.
Planet tomorrow exploded and his parents, Jim and Claude rocketed him to
Greed.
Other than that,seems OK
Careful, that stuff will mess your mind up.
brownmonster
Man of Great Wisdom
13 million is pocket change for a company this profitable. If Davis could hit a curve ball he would make 20 mil a year.
satellitedriver
Moderator
My paycheck clears the bank.
I'm happy.
I'm happy.
Seriously? How much longer will they give you a paycheck?
Catatonic
Nine Lives
Sat is a driver so he's fairly safe.
soberups
Pees in the brown Koolaid
8up
Well-Known Member
a public company, not actually. with 51% of the shares held by the Anne E. Casey Foundation, and former ruling party members on the board there in kahoots with the current top dogs, there will never be any majority of shareholders to move thing in any direction other than what has already been decided upon before the meeting opens.
Catatonic
Nine Lives
Half true - The last time I checked, Class B shares was well over 60% ... however, Class A shares have 10 votes to 1 vote for Class B so your point is valid.
The BOD has a fiduciary responsibility to ensure that decisions are made to protect the shareholder rights.
In this respect, there is no difference in Class A vs. Class B.
SignificantOwner
A Package Center Manager
Sounds nice, but the voting power of A shares makes successful shareholder activism very unlikely. Mid level management (as they like to call us) can't afford to buy enough A shares to turn heads, and the major class A shareholders won't side with an activist. The top executives are doing very well, why would they side with an activist?
The thing that drives me crazy is the non-stop talk about tying pay to performance. What a bunch of hot air. Don't we all work for the same company? How can the same performance that got the top execs significant increases in compensation have gotten "middle management" 3% raises, less of a discounted stock purchase plan, a lower 401(k) match, and less. We all took some major hits and did more with less over the last few years, but only a few are catching up.
FracusBrown
Ponies and Planes
Simple.
Decreasing expenses, increases profit. Reducing compensation reduces expenses. Adding profit increases EPS and drives share price. Shareowers benefit. The more shares owned the larger the benefit.
The boards primary goal is to protect shareowners, including themselves.
SignificantOwner
A Package Center Manager
Got that right What's say we cut the happy talk about tying pay to performance and just put that line in a pretty brochure. At least it would be honest.
