So much for executive bonsuses
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how low can it go? think around 5/share
Dropped another 1% today; down to $9.40. How low can it go? :)
While I probably would have taken the opportunity to drown Bill at that time, it would have only resulted in Vinnie Goombah moving in earlier.
We won store of the year also. It was lovely seeing Bill Madormo in a speedo.
Millions in the bank but the laughing stock for all eternity.... "R D O" are sad examples of what is wrong in upper echelon corporate America. Having preserving integrity. Great.! Earning millions, also great! It's not to much to ask for both!
"Clearly the direction they have taken is working out for them" Well, Ron is pretty much set for the rest of his life, whether he remains or goes. Demos and Otis should each have a nice chunk of change saved from their ill gotten bonuses and they probably have packages set up, although not as generous as Ron's. They pretty much ruined several thousand people's lives, so they probably got a good laugh out of that. The only thing that remains is to get out of the game without looking to bad or facing indictments. But they probably do not care because they already know they are unemployable anywhere else, based on how they ran Staples.
I can add to this. I was another GM who was screwed out of a max bonus. I quit and am having a very successful career at a competitor. So much for retaining top talent. Top talent to Staples are yes managers. So happy to see this 13 year low on their stocks. Clearly the direction they have taken is working out for them.
Note To: "I remember that very well"; You may have outed yourself but I believe you probably no longer work at Staples. I tried to post this earlier but they blocked it...heheh lets see how clever they are. I remember a GM who maxed out on bonus that year. Near 30k... they screwed him out of it, he got to go to a very nice Caribbean trip with Demos and other asses... he cleverly quit upon his return and went to work for another company.
To : Anonymous | Post ID: @ETAFh27-glc, I'm assuming you no longer work at Staples since you may have outed yourself. One manager in particular that I was aware of had qualified for MAXIMUM bonus. Ran a great store. He "WON" a trip to the Caribbean as one of the TOP managers in the company, woohooo! but LOST nearly $30,000 of bonus. He quit for a better company almost immediately after his return from the trip hehehe smart guy!
I am sure the double standard will apply for this year as well. If the EPS clause does not work they will probably just alter the rules to read an appraisal score of meets expectations must be met to receive a bonus. Then they will tell all DMs to only give Meets Most or Does not meet expectations.
I remember that very well, because I was the one that sent in the question asking if execs were getting bonuses when store managers were not. It was AWESOME to watch him lose his shit over it!!!!
hahahahahah! Really! May I remind you it was only a few years ago that Demos posted an online video deriding GM's because they had been upset about a bogus clause never before used in the policy (EPS) to deny all of them a bonus. At the same time Demos, Ron and others were getting millions of bonus dollars based on exactly the same performance. I would not underestimate this slime from trying anything, particularly because this may be their LAST PAYDAY!