j-malotky Posted January 11, 2003 Share Posted January 11, 2003 The company I work for released there 10-K document last week. You know, where it shows all the financial info for the company etc. Our company has not been doing to good the last 2 years, with the tech stock crash and 9/11 etc. Like most companies. We are still closing factories around the world, 5 this fall and 3 more by end of Feburary. Basically we are just barely in business. Because of this, we had not received raises in two years. This year they gave us a 2 1/2 percent raise and a pat on the back telling us what a good job we are doing etc.... I bought it until I saw this 10-K. Then I got pissed off. The president of the company gave himself a $200K raise and a $675K bonus. One Vice President got a $100K raise. Another got a $150K raise. And they ask us to be happy with a 2 1/2% raise. I need to start working on my resume. This is a bunch of CRAP. JM Quote Link to comment Share on other sites More sharing options...
Mighty Favog Posted January 11, 2003 Share Posted January 11, 2003 Gee, if everyone there decides to quit at once the those white-collar guys aren't gonna make SQUAT!! That's one reason I like were I'm at. Most of the employees make more than the company's owner does. Hell, I make more than my immediate boss and she's been there 4 years longer, not to mention we're pretty much interchangable too. Quote Link to comment Share on other sites More sharing options...
IndyKlipschFan Posted January 12, 2003 Share Posted January 12, 2003 "The president of the company gave himself a $200K raise and a $675K bonus. One Vice President got a $100K raise. Another got a $150K raise. And they ask us to be happy with a 2 1/2% raise." Hmmmm Without understandng the specifics...And how the company has done so profitablility wise...And also remember that salaries and bonuses are voted on by the board.... So "technically" he does not give it to himself. The bonus may be for "X" amount of dollars to be able to buy stock in your company too. Look at it this way, it has also been very very difficult in the market economy for many companies. You have a job. Hopefully a good one too. I would think this last "Holliday Season" whatever God or upper being you prayed to, you gave thanks that you actually HAD a job and that through hard work and yes some luck too, you may prosper in 2003 and beyond. Quote Link to comment Share on other sites More sharing options...
jt1stcav Posted January 13, 2003 Share Posted January 13, 2003 Everything that indy said may be true, but it still doesn't make you feel good knowing that you're the one working your fingers to the bone making the money for the company, and the head honchos are the ones raking in the dough. Hell, my managers can't even do my job...if I walked out right now (along with my fellow coworkers), our managers couldn't work our departments, hence, no money would be made. They'd all be up the creek without a paddle, along with the head honchos! But they expect us to keep our noses to the grindstone and work our tails off, so they can collect their healthy salaries each week. And they still can't give us the days off we request, or grant us a long-overdue vacation. They still expect us to cover for someone while on our days off, yadda, yadda, yadda...I guess most businesses are like that, no matter where you go, which is why I've stayed at my job for almost 17 years now (that, plus I know I can clear well over $800 a week if the business is there...because of the present state of the economy and of 9/11, I'm lucky to be doing half of that anymore). Oh, to be self-employed! Quote Link to comment Share on other sites More sharing options...
MrMcGoo Posted January 13, 2003 Share Posted January 13, 2003 Re: Closing factories while executives get pay raises. IMO it shows how totally corrupt US businesses have become. Lest you think I have left wing tendencies, I teach capitalism in an accredited business college. This is an example of the ills of using "professional managers" instead of promoting from within etc. Just remember that these same folks are in charge of the accounting (my specialty). Our economy will never fully recover IMO until corporate governance is completetly reformed. Reform is not happening except as window dressing. Bill Quote Link to comment Share on other sites More sharing options...
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