Posted on 04/03/2013 5:56:54 AM PDT by jimbo123
J.C. Penney Co. (JCP) Chief Executive Ron Johnson saw the value of his compensation plunge 96% last year, as he received little more than his straight salary after getting rich stock awards when he joined the retailer in 2011.
The executive's performance has been under intense scrutiny lately, as his vision for reviving the department-store chain--by filling it with boutiques and forsaking perpetual clearances--has failed to stem sliding sales. Members of J.C. Penney's board would consider ousting Mr. Johnson or selling the company if sales declines don't reverse, The Wall Street Journal reported last month.
(Excerpt) Read more at foxbusiness.com ...
Am I supposed to feel bad? *SNICKER*
LOL!
Heck’uva job, Brownie.
On the plus side it’s nice to see a CEO’s compensation reflect how his company is doing. How many times to we see CEOs continuing to rake in millions in salary, stock, and bonuses while their company tanks? Kudos to the JC Penny board for that if nothing else.
What’s the problem? Not enuf homos to sustain sales?
To paraphrase Dr. Bones McCoy, “It’s dead, Jim.”
I’m sure the little red horny pitchfork wielding dude on his shoulder was telling him
“there won’t be any consequences for stomping on God’s Word - the world will love you!”
ie - “I’ll give you all this if you’ll worship me.”
A small amount of stock is set aside and he gets the dividend. That is it.
Company does well, he does well, company does poorly... life is tough ain't it.
Can’t wait to see Starbucks on the waning side.
That might be valid if pump and dump didn’t exist or near term gains at the expense of long term health.
I can fire every employee and increase my EBITDA tenfold in a quarter only to go out of business the next quarter.
Apparently the alliance of mentally deranged sex perverts are not going to save him.
He couldn't sell the stock or anything like that.
Dividends are paid only when a company makes a profit.
No profit no money.
That's a very simplistic way of looking at things, and probably not fair.
What about companies that aren't large enough to issue stock? What about companies that are large and issue stocks, but don't pay dividends? What about CEOs who come into a troubled company, and lay the groundwork to turn it profitable?
I'm not saying that all CEOs should receive 100's of millions of dollars in compensation, nor should they raid other company assets to pay their own salary, but a reasonable compensation is due, regardless of what Occupy Wall Streeters believe.
He still got 2 million bucks for his efforts.
Based on that,Obongo’s compensation should be(Maximum)”The Minimum-Wage”????????????????????????????????
Such companies are family owned for the most part and the CEO has a great incentive to keep the company profitable. Aunt Myrdal and Uncle George will make his life a living hell if he screws up.
What about companies that are large and issue stocks, but don't pay dividends?
You figure out what dividend they would pay if they did.
What about CEOs who come into a troubled company, and lay the groundwork to turn it profitable?
If it turns profitable, then he gets a very nice payday.
a reasonable compensation is due,
And he would get it. It gives him "skin in the game".
It would be interesting to know, how much Ellen Degeneres was paid for comparison.
I’m sure Ellen made more than the CEO last year. She gets paid no matter what.
As for skin in the game, large, Fortune 500 companies should have active boards of directors that look out for shareholders best interests. They have a fiduciary responsibility to do so. These same boards should be monitoring the CEO's performance, and adjusting compensation accordingly.
Ah, Starbucks, Where Butterfinger isn’t just a candy bar...I couldn’t eat or drink anything that came out of that place now...
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