P-Man,
For mgmt, No longer is it "Mgmt" it seems corporate has clearly made it clear there's low level mgmt (Definitely 16 and below), (possibly include 18's in there). And there's high level mgmt (gr 20 and above). The folks at high level, have shares earned over the years and to them, the no pay raise is nothing as compared to if the dividend were cut in half. For low level mgmt, a div cut wouldn't have affected us as much. The decision is clear, protect the higher ups and have low level pay for it. It's real frustrating, as the 20's and above are feeding at the trough, the low level mgmt is getting hurt and I see serious problems for this company 10 years down the road. Let's see mgmt lost a lot of chance for upward mobility. No pay raise, MIP is a magic number now. No one knows how it is figured out, since it's made up. There's no doubt since the change, if we still used the old formula, the MIP would have been higher. Also, now we can't use 1/2 the MIP right away, it's vested. Every year it's more and more they are taking away.