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Thread: CEO pay and retirement bonus

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    Default Re: CEO pay and retirement bonus

    ###couldnt give a toss about what anyone else gets .......nobody gave a toss about what i got when i had nothing .....cappy

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  3. #12
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    Default Re: CEO pay and retirement bonus

    As long as the herbits don’t expect tips like these big so called intellectuals probably give away, and put the cost of living up for the normal people who work for a living. JS

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    Default Re: CEO pay and retirement bonus

    All seamen complain about money Lewis, even the Russians who I sailed with. That’s why I started the post about overtime. Myself I didn’t continue on as a professional seafarer for the life of a jolly jack and not worry about money. I was there also to make a living and not just to fornicate drink myself stupid and take days of to suit. That was cheap labour for a shipowner when he had teenagers and people in their early twenty’s they were cheap labour for him. Probably got back in loggings most of what he paid in wages. You would probably have found that most of your Australian seafarers were mostly ex Brits as even today most of what remains are also. JS

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    Default Re: CEO pay and retirement bonus

    These CEO's are employed to do a job like any other person on a salary and that, in my opinion, is where it should stay, There are many hundreds of thousands of people who work hard and do their job properly, more than often on very low wages but they get no bonuses, nothing. Why should the people on eye watering salaries get eye watering bonuses, why should they get bonuses at all, they don't deserve them, they get them for just doing their job, when very often, they are not doing their job properly at all. Its about time these bonuses were finished once and for all. They would be better off, if they must get a bonus, having it paid to a Charity of their choice as a part of their employment agreement. Now that could start me off on the eye watering salaries paid to executives of charities like the RNLI but I will leave that for another day.
    When one door closes another one shuts, it must be the wind

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    Default Re: CEO pay and retirement bonus

    I got an annual bonus , normally about two weeks salary , taxable and performance related , budgets met , projects in ontime, so in principle I cannot disagree with bonuses , as long as they based on improved performance
    Rob Page R855150 - British & Commonwealth Shipping ( 1965 - 1973 ) Gulf Oil -( 1973 - 1975 ) Sealink ( 1975 - 1986 )

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    Default Re: CEO pay and retirement bonus

    The last outfit I worked for were excellent regarding salary and leave along with conditions on board for all crew members, nearly all were all long term employees on company contracts. Written into the company's articles was that 10% of any annual profits were to be distributed amongst all sea going staff in the form of annual bonus. The profit's were to be gained through efficiency, increased contract payments on charters won but not on pure cost cutting exercises. They also used to reward some of us with very attractive share option's.
    Rgds
    J.A.

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    Default Re: CEO pay and retirement bonus

    Yes John quite agree, Shipping during my time was like a Clint Eastwood movie , the good the bad and the ugly, Shipping jobwise like most things in life was the luck of the draw. Today is beggars can’t be choosers so am pleased am not there to have to make soul rendering decisions anymore. As always crops up in posts on here however you can’t compare today with yesterday. And to most of us we got out of it what we deserved , which to most exludes financial gain. However as a lifestyle was mainly passable. JS

    PS if wanted huge wage packets should of gone into the banking profession and worked up to a CEO then just sacked half a dozen tellers when wanted a bonus for making further profits for the bank. Cheers JWS...
    Last edited by j.sabourn; 17th November 2018 at 01:48 PM.

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    Default Re: CEO pay and retirement bonus

    Though not in the salary and bonus league or the gross sales and net profits of these titans of business being discussed, I was paid very well. All what separated the titans and me were zeros on our paycheck and balance sheet. The business goals and balance sheet objectives were the same.

    I was senior-vice president, operations, for an international remote-site catering company. We were taken over by an even larger company. The President, for reasons of his own resigned, but recommended me as his replacement before leaving. The chairman of the board of the new parent company told me I could start at the same salary as Snr. VP, I tendered my immediate resignation. He asked me why and I told him I could be bought but I could not be sold, my staying was not a part of his negotiations in the purchase of the company. We negotiated. My starting salary was substantially increased as was the bonus opportunity, plus I insisted as part of my employment contract annual salary increases equal to the annual inflation increase, not the cost of living index. This later proved very lucrative as in that time annual inflation rose to 15% plus p.a..

    A bonus is an opportunity and not a given. For my salary I was expected to reach budgetary goals and objectives, my bonus was for exceeding the goals and objective, it was not a given, just for showing up. And if, financially, I performed poorly I would swiftly be given the gate. My contract would not be renewed.

    As I said, there was no difference in actions between what I did and the titans. I negotiated a deal for myself and so did they, and the other party was willing to pay.

    In remote site catering, payment is made by the client at various manning levels. As the project moves up more people have to be fed and housed as the project grows, more employees are hired, as the project comes to an end the client tales down his work force and the caterer follows suit...terminates people.

    That makes no difference whether it's cooking food and making beds, or a project to smash a rocket into a distant planet, once it's done and accomplished it's tail down and terminate...short order cooks or engineers.

    Any manager, what ever his title, who tries to stretch profits by cutting employees to the bone, will not last long. His/her reputation would be tarnished and jobs would be harder to get, their career path would be downhill. No matter the business, a grapevine exists and phonies and poor managers swiftly get found out. Cutting product quality is no way to move upwards.

    There would have been a field of candidates that was short listed for the position in question. Each being considered would have had to have a track record of prior success, he was the best of the best and the one most acceptable to the board of directors which led them to agree upon terms. He was given an employment contract, it stated his salary, benefits and how and why he would receive a bonus. He was, I assume terminated. He had a contract and it had to be paid-out. An employment contract tells the company they are guaranteed (short of extreme illness or death) that his position would be filled for the contracts term. Remember the board wanted him, he was the best of the best, and the contract guaranteed him money for the term of the contract. All engaged were adults looking to achieve goals and objectives. And assuming there was no skullduggery involved good luck to him.

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    Default Re: CEO pay and retirement bonus

    A lot of us have worked in similar situations where salary is negotiable, that is democracy. But taking salary’s to obscene amounts is not Democracy it is self indulgent blackmail at the least. And as said no one on. This earth is worth some of the obscene amounts paid out especially for sitting on your ass and delegating all The dirty jobs to others, with the threat of dismissal if didn’t comply. Qantas if you remember employed a so called clean up of its business to put it back on the right hand side of the ledger.
    It had some of the cabin staff up in arms by his methods , which were
    Thinning out the wages bill. I would never fly Qantas today. His own salary would probably adequately cover the. Wages bill of the whole airline or a large percentage of it. Cheers JS
    Last edited by j.sabourn; 18th November 2018 at 01:01 AM.

  15. #20
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    Default Re: CEO pay and retirement bonus

    Just mention this company and the sick side how failure is rewarded.
    https://en.wikipedia.org/wiki/Fred_Goodwin

    Here is another one who was well rewarded for failure,

    https://en.wikipedia.org/wiki/Tony_Hayward
    Last edited by Lewis McColl; 18th November 2018 at 04:17 PM.

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