Hmmm.... the $1000 (gross) equates to a 0.6% bonus if you're an F/O, and 0.4% if you're a Captain. The execs' bonus? TWENTY PERCENT. I'll say it again: TWENTY PERCENT.
And at least with the old share scheme you didn't pay tax on the $1000 worth of shares. Now a top tax bracket sucker is giving 50% of this bonus to John and Pete. The lower brackets end up with a higher net bonus. "People are our most valuable asset...." Yeah, sure....
Oh, and it appears that the REAL reason for giving employees a bonus in the form of shares was that it was a way to defer expenses by three years, hence make the current year's profit & loss statement look better. Now there's a change in accounting standards that require such an allocation be recorded as an expense in the year it's first granted. So there's no benefit to QF anymore in giving employees shares.
They have no idea just how much damage they're doing to morale.
Last edited by Ron & Edna Johns; 22nd Aug 2004 at 01:03.