mgmt. compensation actually down...

Discussion in 'UPS Partners' started by moreluck, Mar 20, 2006.

  1. moreluck

    moreluck golden ticket member

    UPS executive compensation down 11% on average

    Monday March 20, 4:05 pm ET...

    United Parcel Service Inc.'s profit went up 16 percent in 2005, but executive bonuses were lower due to a shift from immediate compensation to long-term compensation for annual bonuses, according to a proxy filing with the Securities and Exchange Commission.
    Half of the annual bonus the Atlanta-based package shipper (NYSE: UPS - News) awards is now paid in restricted stock units that vest over a five-year period, UPS said.
    UPS Chairman and CEO Mike Eskew made a base salary of $979,500 and a bonus of $229,100, plus other compensation of $13,537, for $1.22 million in total compensation in 2005. This marks an 11 percent drop over the $1.37 million in compensation he got in 2004. However, his base salary rose 5.6 percent compared with his base salary of $927,500 in 2004. Eskew's bonus in 2004 was $435,000.
    Eskew's long-term compensation awards (restricted stock units and restricted performance units) jumped to $1.25 million in 2005, compared with $973,680 in 2004. He also received options for 34,993 shares.
    UPS had a profit of $3.87 billionon $42.6 billion in revenue in 2005.
    UPS Chief Operating Officer John Beystehner got a base salary of $538,750 and a bonus of $126,150, plus other compensation of $10,524, for total compensation of $675,424 last year. This was an 11 percent decrease compared with $758,800 in total compensation Beystehner got in 2004. His bonus for 2004 was $237,800.
    Beystehner also was awarded long-term restricted stock units and restricted performance units worth $529,573 in 2005, plus options totaling 13,768 shares.
    Chief Financial Officer Scott Davis earned a base salary of $496,000 and a bonus of $116,000, plus other compensation of $14,523, for a total of $626,523. This represented a 10.6 percent decline compared with the $700,700 in total compensation he received in 2004. David also got long-term restricted performance units and restricted stock units worth $486,946 and stock options for 12,660 shares in 2005.
    Published March 20, 2006 by the Atlanta Business Chronicle</I>
  2. over9five

    over9five Senior Member Staff Member

    How do they survive????
    If I were them, I'd leave!

    Casey's rolling in his grave.
  3. Compensation is not actually 'down'. It is being deferred as 'long term compensation'.

    Of course, they will use this as a rationale for no raises, or possibly cuts in 2008. You heard it here first.
  4. xracer

    xracer Member

    Have to agree with Susie on this one, they are going to cry poverty and say that they have already taken away from themselves and now they have no choice but to take away from thier devoted work force in order to stay competitive in todays fierce market.
  5. over9five

    over9five Senior Member Staff Member

    "...for $1.22 million in total compensation in 2005."

    The guy has done NOTHING to deserve any sort of pay increase. The stock does nothing, and we're stuck in the nightmare of a system(PAS/EDD), that will never live up to its expectations, or be worth its cost.
  6. Hangingon

    Hangingon New Member

    I thought I read somewhere back when Kelly was CEO that he was making less then 500k. Guess the big winners from us going public is Eskew and his friends around the table in Atlanta.
  7. InTheRed

    InTheRed New Member

    doesn't the guy who runs fedex make like $40 mil/year?
  8. michael

    michael Chicago area

    That's a good question InTheRed I would be interested to know what the CEO of other companies that are as large as UPS make. Anyone have any facts on something like this ?
  9. moreluck

    moreluck golden ticket member

    <TABLE cellSpacing=0 cellPadding=1 width=340 align=center border=0><TBODY><TR><TD bgColor=#999966><TABLE cellSpacing=0 cellPadding=2 width=340 bgColor=#ffffff><TBODY><TR bgColor=#d3d5c1><TD class=style1 vAlign=top colSpan=4>
    2004 Top 10 Most Highly Paid CEOs
    on Executive PayWatch​
    </TD></TR><TR class=small vAlign=top><TD> </TD><TD>Yahoo Inc.</TD><TD>Terry S. Semel</TD><TD>
    </TD></TR><TR class=small vAlign=top bgColor=#eeeeee><TD> </TD><TD>Coach Inc.</TD><TD>Lew Frankfort</TD><TD>
    </TD></TR><TR class=small vAlign=top><TD> </TD><TD>XTO Energy Inc. </TD><TD>Bob R. Simpson </TD><TD>
    </TD></TR><TR class=small vAlign=top bgColor=#eeeeee><TD> </TD><TD>United Health Group Inc. </TD><TD>William W. McGuire </TD><TD>
    </TD></TR><TR class=small vAlign=top><TD> </TD><TD>Viacom Inc. </TD><TD>Summer M. Redstone</TD><TD>
    </TD></TR><TR class=small vAlign=top bgColor=#eeeeee><TD> </TD><TD>TXU Corp.</TD><TD>John C. Wilder</TD><TD>
    $54,960,893 ​
    </TD></TR><TR class=small vAlign=top><TD> </TD><TD>Countrywide Financial Corp. </TD><TD>Angelo R. Mozilo </TD><TD>
    </TD></TR><TR class=small vAlign=top bgColor=#eeeeee><TD> </TD><TD>Occidental Petroleum </TD><TD>Ray R. Irani </TD><TD>
    $52,648,142 ​
    </TD></TR><TR class=small vAlign=top><TD> </TD><TD>KB Home</TD><TD>Bruce Karatz</TD><TD>
    $47,288,228 ​
    </TD></TR><TR class=small vAlign=top bgColor=#eeeeee><TD> </TD><TD>Gateway Inc. </TD><TD>Wayne R. Inouye </TD><TD>
  10. moreluck

    moreluck golden ticket member

    From CNN Money...

    In 2004, the ratio of average CEO pay to the average pay of a production (i.e., non-management) worker was 431-to-1, up from 301-to-1 in 2003, according to "Executive Excess," an annual report released Tuesday by the liberal research groups United for a Fair Economy and the Institute for Policy Studies.
    <!--startclickprintexclude--><!--endclickprintexclude--><SCRIPT language=JavaScript><!--var clickExpire = "-1";//--></SCRIPT>That's not the highest ever. In 2001, the ratio of CEO-to-worker pay hit a peak of 525-to-1.
  11. moreluck

    moreluck golden ticket member