This is Ron Sargent and I don't care about anybody but myself. I would like to announce today that I am eliminating all full time supervisor positions and cutting all manager salaries by 30%. I'm doing this so I get our stock price higher so I can get a bigger bonus. I am also cutting store labor hours for the same purpose. I don't care about customer service and I surely don't care about you(my employees). Thank you and keep working your tails off for little pay and no respect to make me richer. I'm not going to share any of the wealth you produce, it's all for me.
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I think his head would implode if the concept of leading by example, giving respect down the chain, or taking a cut to save jobs. It will only get worse as well. Even if he left, each successive CEO would have to tighten expenses through hours reductions, layoffs and closures to get to the desired compensation rate. A high ratio of CEO pay to avg associate pay is a badge of honor for these clowns, not something to be embarrassed about.
I'm checking after hours trading just in case .... JUST KIDDING!
Damn I wish I knew this before the market closed cause I'd have bought a ton of SPLS. Oh and I would also have used a trailing limit to sell as soon as this DOG turned south.
@Ron,
Why don't you lead by example & cut your salary in half so you can save jobs. Think of how many individual positions you could save...my goodness....you could be a hero instead of the opposite. Who knows, may your self-sacrificing example could lead other CEO's around the world to do the same thing....Could you try to do this, for us????