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LTIP for the CEO, COO & CFO
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<blockquote data-quote="Black_6_Leader" data-source="post: 501934" data-attributes="member: 9413"><p>P-Man, As I see it, there are several errors in your logic . . . the options are worthless because these so called leaders were unable to impact the share price in a positive direction. </p><p></p><p>And remember, all the supervisors and managers, who were awarded MIP shares shares when the price was in the $70s, are now receiving vested shares worth $45. They too have taken a haircut. And I would bet, that haircut is by far a larger percentage of their net worth then the underwater options represent to a district manager. That is why they have been leaving in droves.</p><p> </p><p>Let me borrow a few lines from a document, that from the sounds of your comments, you may have seen before:</p><p></p><p><em>"I work for the success of the entire Company rather than for my own personal gain or advantage. I give the benefit of my knowledge and experience to each of my Partners. I want to help them as I know they will help me."</em></p><p><em></em></p><p><em>"To me, "Service Comes First" I am dedicated to serving others, -- All of our People--All of our Customers --All of our Business Contacts --and All of the People in the Community. I perform this act of Service with sincerity and honest purpose."</em></p><p><em></em></p><p><em>"The financial stability and the future profitable success of our Company are assured when my dedication to Service is performed with the thought of "giving" rather then "receiving."</em></p><p><em></em></p><p><em></em>These were copied word for word from a certificate that is still given to first time MIP recipients. There was a time when these were more then hollow words . . .</p></blockquote><p></p>
[QUOTE="Black_6_Leader, post: 501934, member: 9413"] P-Man, As I see it, there are several errors in your logic . . . the options are worthless because these so called leaders were unable to impact the share price in a positive direction. And remember, all the supervisors and managers, who were awarded MIP shares shares when the price was in the $70s, are now receiving vested shares worth $45. They too have taken a haircut. And I would bet, that haircut is by far a larger percentage of their net worth then the underwater options represent to a district manager. That is why they have been leaving in droves. Let me borrow a few lines from a document, that from the sounds of your comments, you may have seen before: [I]"I work for the success of the entire Company rather than for my own personal gain or advantage. I give the benefit of my knowledge and experience to each of my Partners. I want to help them as I know they will help me." "To me, "Service Comes First" I am dedicated to serving others, -- All of our People--All of our Customers --All of our Business Contacts --and All of the People in the Community. I perform this act of Service with sincerity and honest purpose." "The financial stability and the future profitable success of our Company are assured when my dedication to Service is performed with the thought of "giving" rather then "receiving." [/I]These were copied word for word from a certificate that is still given to first time MIP recipients. There was a time when these were more then hollow words . . . [/QUOTE]
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