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Tuesday, May 15, 2007 3:43:06 PM
The executives do not need to perform to be rewarded. If Fritz, et al. had any semblance of decency, they would forgo receiving a salary, return all repriced options back to the company and work completely on a pay per performance basis contingent on reaching concrete and measurable goals.
The company's finances dictate that these guys should be staying at the Motel 6 and dining at Thelma's 24hr All You Can Eat Buffet when attending conferences but my gut tells me they're likely shacking up at the Ritz and dining at 5-star joints while toasting their personal success.
If they keep adding to the OS count, and keep borrowing tens of millions of dollars per quarter, they still get paid, and still buy retirement property in the Carolinas. If they keep borrowing, to keep this boat afloat, then they continue to receive the salaries, the perks, and the benefits of heading a publicly traded company. And we, the little investors, get nothing, and have nothing to say about it.
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