Derek and the others should be selfless monks. Why is he getting paid? Why does any CEO take pay!! Shame on them!!
I'm accused often of dancing around at night with my DP blowup doll and longingly starting at his poster above my bed......and equally as often, accused of "bashing"....I suppose a by product of actually having little emotion and personal feelings towards a business decision and transaction and a trading position.
That being said, there are actually many thoughts regarding the above.
I've been part of projects where people drew excessive compensation prior to it being the appropriate time for doing so. I've also been in positions where I waived all compensation, as did many of my associates until the appropriate time to draw, and then graduated accommodating the operation(s) and it's growth.
Some would call either a personal decision, some would call it business, but when one has to answer to, and is responsible to shareholders, that is indeed a different story.
My primary current entity I did not draw anything significant the first 2+ years. Everyone I brought on committed to the same, all with the understanding the money was/would be there, but drawing would hinder growth.
3 years later, I started cutting the 6 figure checks for people with a thank you for their loyalty, commitment, dedication and understanding, and giving portions of company worth 7 figures.
It is not a question of "if they should be paid".
It is the actions of a responsible adult professional committed to the growth of the organization, and a display of commitment to shareholders how one chooses to proceed in these matters, knowing those actions will publicly and directly feed investor sentiment and confidence in not only themselves, but the current and future success of the endeavor.
Bottom line:
To draw excessive compensation during a time of growth prior to launch of operations and profitability is by any standards, poor form and bad taste and irresponsible.
I would think very few would disagree.
I'm big on "back end". You do this, you execute this, you display this performance, and you'll get 10 times more down the road than today.
There is little incentive (for anyone, anywhere, anytime) regarding performance if any and every compensation they desire is present from day 1.
I'd like to see a little more personal commitment to company and shareholders.
Spoken by someone who heads up many similar operations (and much larger as well), who answers to investors, partners and associates daily, and who has the level of trust from people that I frequently bring people on who agree, and wait for their "back end", as well as quite a significant shareholder, which is an understatement.
I'm probably the only person in the nation who can staff an entire operation, anywhere, anytime, with "top tier" staff and no payroll. That is the level of trust and confidence I feel is appropriate and desirable in my world.
While I don't expect the same from anyone, ever, a glimpse of such wouldn't hurt ;) lol
That being said, I did still add an extra $100k this week when contemplating Oct-Feb, because business is business, and movement is movement.
Business. Not personal ;)
