Golden Handshake?

[Digger]

The Agricore circular revealed that on Tuesday the company's board set up "executive retention agreements" with about a dozen senior officers. Under those deals, executives will get at least two years of pay and bonuses if they lose their jobs after a change in control.

[Pulseman]

One more step by UGG, operating under the name AU, to make a takeover more expensive for a potential buyer. How much makes that dirty dozen (sorry, wrong name), $100,000 -1,000,000/year? Easy $10,000,000 in unexpected takeover costs.

[Pulseman]

Oh, sorry that is per nose, mulipied by 12= ~$10,000,000 give or take.

[Incognito]

The President and CEO of SWP made 3.3 million last year.

[cottonpicken]

Goldman sachs announced 16.5 BILLION in end year bonuses.
26,500 employes=600,000$ per person

[wilagro]

Did you say rip-off? I would turn the whole lot out to pasture and run in a new management group. Too bad that management is thinking only of THEIR bottom line. Greedy b******s.

[chaffmeister]

Wilagro:

If I told you I could make you $100 million, but my fee would be $10 million (payable ONLY if I'm successful at making you the $100 million), would you go for it?

In another life, I offer strategic risk management services and charge 10% of the net benefit; on other straight trading services we charge 25%. No one has balked at the fee yet. It all comes down to performance - if we don't perform, we don't get paid. It's as simple as that.

I'm not advocating the doling out of obscene bonuses but I think it needs to be put into perspective - many of these bonuses are performance related.

Interesting concept - getting paid for performance. What has the CWB done for you lately - that you can reasonably calculate? What would you pay for what you've been getting?

[Zaphod]

I used to work at AU. Those golden handshakes are not new. They came into being before Agricore and UGG merged in 2001.

[wilagro]

In an other life before I began farming I worked in retail management and was paid a year-end bonus based on NET PROFIT of the corporation. Since my bonus was directly proportional to performance, I did the best for my boss and we both profited.

I read about negative sales, margins and indeed losses of coporations but their top executives are still paid bonuses and their severance pay is still generously doled out no matter what.

If the CWB executive perform poorly or indeed officials of grain traders such as Agricore perform poorly, then they should be docked pay instead of being rewarded.