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SportTrac Discussion
Engine & Drivetrain
ExxonMobil earns Record $10 Billion Profit in Quarter
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<blockquote data-quote="John Mastrocco" data-source="post: 545300" data-attributes="member: 54595"><p>With AA there was no hint the bonuses would be paid until after the concessions were made. And the union has no say-so on the bonuses. As you pointed out, the board makes those decisions.</p><p></p><p></p><p></p><p>Which brings up one of the biggest problems I have with the largest companies: the way bonuses and employment contracts for top execs are distributed. The people doing the distribution (the Board) are too often CEO's of other companies on whose board the person they are preparing to reward also sits. Over time the whole thing has become a very close-knit club with each looking out for the other. At least with the largest companies. And even if they don't share the same business interests, they know that may change and then their reward will be decided by the person they just shot down. That won't do at all. So they play the game and continue to reward even when there is failure.</p><p></p><p></p><p></p><p>And stockholder votes have almost become meaningless the way most people assign their proxies these days.</p><p></p><p></p><p></p><p>Like I said, most of this doesn't hold for smaller companies. and 125 employees is definitely a smaller company. In a lot of ways, I envy you your position. I've worked for both and the smaller ones, while not paying as well or having the same benefits available, are a hell of a lot more fun to work for.</p></blockquote><p></p>
[QUOTE="John Mastrocco, post: 545300, member: 54595"] With AA there was no hint the bonuses would be paid until after the concessions were made. And the union has no say-so on the bonuses. As you pointed out, the board makes those decisions. Which brings up one of the biggest problems I have with the largest companies: the way bonuses and employment contracts for top execs are distributed. The people doing the distribution (the Board) are too often CEO's of other companies on whose board the person they are preparing to reward also sits. Over time the whole thing has become a very close-knit club with each looking out for the other. At least with the largest companies. And even if they don't share the same business interests, they know that may change and then their reward will be decided by the person they just shot down. That won't do at all. So they play the game and continue to reward even when there is failure. And stockholder votes have almost become meaningless the way most people assign their proxies these days. Like I said, most of this doesn't hold for smaller companies. and 125 employees is definitely a smaller company. In a lot of ways, I envy you your position. I've worked for both and the smaller ones, while not paying as well or having the same benefits available, are a hell of a lot more fun to work for. [/QUOTE]
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SportTrac Discussion
Engine & Drivetrain
ExxonMobil earns Record $10 Billion Profit in Quarter
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