I understand all that...however, if times are tough and they are...Macy’s execs should not be getting bonuses...it smacks of bad judgment...I would not consider buying a stock after I have been basically wiped out by these kinds of CEO’s. I can’t trust them to run their companies properly...they don’t seem to care if the companies they run do well or not-the bonuses continue-good times and bad times...if you drive your company into the ground...you lose very little. No way to run a business. I would not be surprised if Macy’s was in bankruptcy by the end of the years and this is a take the money and leave strategy.
The bonuses are based on performance and they’re still making a profit. Comnpanies are always looking to streamline and constantly looking at underperforming areas where business activity is not meeting their goals. Do you want them to stop paying bonuses every time people are laid off? For retailers who are constantly closing stores, that may mean never paying the execs a bonus. And paying bonuses to execs is part of their compensation and it’s based on how well they did throughout the year. They’re the ones who put in the long hours, they’re the ones who go home and probably still bring home their work. And frankly, it’s their business how much and whether they want to pay a bonus.
As I said, the media is out to create an anti business environment and it seems they’re winning.