Anyone have an idea as to the split of the 7.8% new stock by management? As who qualifies and what their distribution will be? Just how many management types can there be.
PITbull
Veteran
Well, Senior management is considered all the VPs, which there are 34. Then you have the CEO.
Directors and managers are not included in that stake above, but ARE included in bonuses for their individual performance review, regardless of company performance. They have a different kind of profit sharing, like what we have.
You figure 8% of 350 million profit is approx. $28Million to split among these "raiders". Then, like our CEOs contract: If he MEETS his targets, he's entitled to 100% bonus of his base salary of $600,000. If he EXCEEDS these targets, he receives 200% of base salary...if he exceeds his targets in the "performance period", he receives 400% of his base.Those bonuses start for the performance period in 2004 and forward moving.
Not bad for just coming on board and threatening liquidation to get what you want. Instilling FEAR is what works, like a bully in a playground.
Not all VPs have to report their bonsuses to the SEC. Only Top Senior Execs and CEO. those become public information.
We should pose this question above to "real world".
Hopefully, he can better answer this question above. But, I will tell you, Mangement hates when you ask them about their bonus and options. They may never respond to who gets what cut in this profit sharing piece.
Directors and managers are not included in that stake above, but ARE included in bonuses for their individual performance review, regardless of company performance. They have a different kind of profit sharing, like what we have.
You figure 8% of 350 million profit is approx. $28Million to split among these "raiders". Then, like our CEOs contract: If he MEETS his targets, he's entitled to 100% bonus of his base salary of $600,000. If he EXCEEDS these targets, he receives 200% of base salary...if he exceeds his targets in the "performance period", he receives 400% of his base.Those bonuses start for the performance period in 2004 and forward moving.
Not bad for just coming on board and threatening liquidation to get what you want. Instilling FEAR is what works, like a bully in a playground.
Not all VPs have to report their bonsuses to the SEC. Only Top Senior Execs and CEO. those become public information.
We should pose this question above to "real world".
Hopefully, he can better answer this question above. But, I will tell you, Mangement hates when you ask them about their bonus and options. They may never respond to who gets what cut in this profit sharing piece.
- Thread Starter
- #3
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On 2/9/2003 8:16:29 PM PITbull wrote:
.
We should pose this question above to "real world".
Hopefully, he can better answer this question above. But, I will tell you, Mangement hates when you ask them about their bonus and options. They may never respond to who gets what cut in this profit sharing piece.
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[/blockquote]
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PITbull,
Thanks for the info.
I also believe, he would not reply to this.
Even in the Big House there are still codes of conduct.
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On 2/9/2003 8:16:29 PM PITbull wrote:
.
We should pose this question above to "real world".
Hopefully, he can better answer this question above. But, I will tell you, Mangement hates when you ask them about their bonus and options. They may never respond to who gets what cut in this profit sharing piece.
----------------
[/blockquote]
***************************************8
PITbull,
Thanks for the info.
I also believe, he would not reply to this.
Even in the Big House there are still codes of conduct.
fatherabraham
Veteran
- Sep 27, 2002
- 814
- 354
In addition to above future attrocities, the rumors of S. Wolf taking out Millions just prior to BK are getting more frequent.
I keep hearing 26M
I keep hearing 26M
PITbull
Veteran
Father,
I believe that must be just a rumor floating. Those monies would have to be reported either to the BK judge and the creditors that would not allow that to happen.
I believe that must be just a rumor floating. Those monies would have to be reported either to the BK judge and the creditors that would not allow that to happen.
fatherabraham
Veteran
- Sep 27, 2002
- 814
- 354
Pitbull,
Hope you are right. Been hearing diferent #'s and it has been said that ALPA is releasing info soon that will be damaging to Mgt. We shall see this week I think?
Hope you are right. Been hearing diferent #'s and it has been said that ALPA is releasing info soon that will be damaging to Mgt. We shall see this week I think?
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