Deep Diver, for the most part your post is reasoned and balanced. However, I don't think that you know of what you speak when you say that the bonus structure for one senior executive would be enough to take care of all of all of the problems in the entire Dragon line. I seriously doubt that Polaris pays their executives bonuses that are that large.
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Dont think they pay their Execs. that much????Hmmmmm look closely.
Well here is
Scott Wines comp package for the year.
ANNUAL COMPENSATION*
Salary $177,622
Bonus $530,000
Total Annual Compensation $707,622
STOCK OPTIONS*
Restricted Stock Awards $252,378
All Other Compensation $242,177
Unexercisable Options 232,000
Total Number of Options 232,000
TOTAL COMPENSATION*
Total Annual Cash Compensation $892,622
Total Short Term Compensation $707,622
Other Long Term Compensation $494,555
Total Calculated Compensation $1,586,798
Here is
Bennett Morgans comp.
ANNUAL COMPENSATION*
Salary $392,308
Total Annual Compensation $392,308
STOCK OPTIONS*
Restricted Stock Awards $203,048
All Other Compensation $78,469
Exercised Options 4,400
Exercised Values $104,478
Exercisable Options 128,000
Exercisable Values $195,575
Unexercisable Options 110,000
Unexercisable Values $34,500
Total Value of Options $334,553
Total Number of Options 242,400
TOTAL COMPENSATION*
Total Annual Cash Compensation $832,308
Total Short Term Compensation $392,308
Other Long Term Compensation $281,517
Total Calculated Compensation $1,655,933
Mike Malones Comp.
ANNUAL COMPENSATION*
Salary $365,385
Total Annual Compensation $365,385
STOCK OPTIONS*
Restricted Stock Awards $127,118
All Other Compensation $62,533
Exercisable Options 77,624
Exercisable Values $206,807
Unexercisable Options 47,000
Total Value of Options $206,807
Total Number of Options 124,624
TOTAL COMPENSATION*
Total Annual Cash Compensation $675,385
Total Short Term Compensation $365,385
Other Long Term Compensation $189,651
Total Calculated Compensation $1,093,992
Here is
Tillers plan..he is still a director on the board.
ANNUAL COMPENSATION*
Salary $750,000
Total Annual Compensation $750,000
STOCK OPTIONS*
Restricted Stock Awards $924,360
All Other Compensation $269,783
Exercised Options 400,000
Exercised Values $8,962,000
Exercisable Options 1,442,000
Exercisable Values $3,026,750
Total Value of Options $11,988,750
Total Number of Options 1,842,000
TOTAL COMPENSATION*
Total Annual Cash Compensation $2,250,000
Total Short Term Compensation $750,000
Other Long Term Compensation $1,194,143
Total Calculated Compensation $4,814,757
After just looking at a few of these Execs comp plans..especially Tiller who is still involved at polaris, I think you can see that I wasnt too far out in left field even though it was an assumption at the time..more of a figure of speech than anything. If anything you may have missed the context of the assumption....IMHO it was meant as an anology that in the "big Picture" of Polaris in respect to their earnings this recall isnt going to drastically hurt them. If anything they might possibly be hurt more by not doing it. Are you a Polaris employee by any chance? I have had some interesting Pm's by some I would guess have a real vested interest in Polaris. I have a piece of Polaris stock in my portfolio so any bad decisions of Polaris effect the share price which isnt real great, but not bad considering the market in general. Only about a 50% loss in share value since about Sept.
Cheers and if you are a Polaris emp. we need you all to do the best you can in this trying time!