Oldtimer
Well-known member
GETS KIND OF HARD FEELING SORRY FOR THE "POOR" PACKERS AND ALL THE MONEY THEY'RE lOSING :roll:
BEEF NEWS
Golden handshake: Simons receives $7.2 million severance
by Pete Hisey on 4/29/2005 for Meatingplace.com
Swift & Co. has given former chief executive John Simons a parting gift worth roughly $7.2 million, including $2.3 million in severance pay, $3.4 million for 4 million unused stock options, and $1.2 million for about 1.2 million shares of Swift stock, according to the Rocky Mountain News. He will also receive fees for a six-month consultancy of about $225,000. The settlement is, coincidentally, almost equal to the $7.25 million the company has earned in the first three quarters of fiscal 2005.
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Another I stole from Ranchers.net......
Did you see the news blurb in yesterday's USA Today entitled, "Flying into the sunset?" Interesting comments about Don Tyson.
"Some executives retain rights to company-paid personal flights (in public companies) after they retire. Under a consulting agreement that calls for a maximum 20 hours a week of 'advisory' services (which, to me, means that he really doesn't have to do anything when they say 'a maximum'), former Tyson Foods chairman Don Tyson gets $1.2 million annually through 2011, plus 150 hours of personal use of company aircraft for himself or designated passengers. In fiscal 2004, his flight time cost the company $92,764."
The 1.2 mil and the flight costs would be in the expense category in the company books, right? If the market sets the selling price of beef (the income side - which has to offset more than expenses to yield a profit), how does the company offset "Don's perks?"
BEEF NEWS
Golden handshake: Simons receives $7.2 million severance
by Pete Hisey on 4/29/2005 for Meatingplace.com
Swift & Co. has given former chief executive John Simons a parting gift worth roughly $7.2 million, including $2.3 million in severance pay, $3.4 million for 4 million unused stock options, and $1.2 million for about 1.2 million shares of Swift stock, according to the Rocky Mountain News. He will also receive fees for a six-month consultancy of about $225,000. The settlement is, coincidentally, almost equal to the $7.25 million the company has earned in the first three quarters of fiscal 2005.
---------------------------
Another I stole from Ranchers.net......
Did you see the news blurb in yesterday's USA Today entitled, "Flying into the sunset?" Interesting comments about Don Tyson.
"Some executives retain rights to company-paid personal flights (in public companies) after they retire. Under a consulting agreement that calls for a maximum 20 hours a week of 'advisory' services (which, to me, means that he really doesn't have to do anything when they say 'a maximum'), former Tyson Foods chairman Don Tyson gets $1.2 million annually through 2011, plus 150 hours of personal use of company aircraft for himself or designated passengers. In fiscal 2004, his flight time cost the company $92,764."
The 1.2 mil and the flight costs would be in the expense category in the company books, right? If the market sets the selling price of beef (the income side - which has to offset more than expenses to yield a profit), how does the company offset "Don's perks?"
