tag:blogger.com,1999:blog-3862216000300765627.post2969150144175011907..comments2024-01-16T03:42:46.705-05:00Comments on The Downward Spiral: The Third World Comes to Scranton, PennsylvaniaBill Hickshttp://www.blogger.com/profile/17551954408189665078noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-3862216000300765627.post-1495892682346907502012-07-13T08:30:10.029-04:002012-07-13T08:30:10.029-04:00Well here it is, answered my own question. I did a...Well here it is, answered my own question. I did a little bit of digging a.k.a "googled - darden ceo pay".<br /><br />Darden CEO's pay jumps 10 percent<br />August 11, 2011<br /><br />Darden Restaurants' chairman and chief executive officer Clarence Otis received a 10.3 percent increase in total compensation last year for an earnings package worth $8.5 million, the company said Thursday.<br /><br />Otis' salary for the fiscal year that ended in May was $1 million, up from $946,800 the previous year, according to a proxy statement filed with the Securities and Exchange Commission.<br /><br />Otis' incentive pay went up to $2.1 million from $1.7 million.<br /><br />Other compensation included stock awards and personal benefits including use of company aircraft, executive physicals and financial counseling reimbursement.<br /><br />The jump in compensation came as Darden's earnings per share last year increased by 19 percent, to $3.39, from $2.84 a share in 2010.<br /><br />http://articles.orlandosentinel.com/2011-08-11/business/os-darden-executive-compensation-20110811_1_darden-ceo-clarence-otis-compensation<br /><br />Makes me feel all warm and fuzzy inside. Now I'll have to waste a bunch of money target shooting this weekend just to get the rage out of me. (at least someone at an ammo factory will get to keep their job for another week)Rusty Shacklefordhttps://www.blogger.com/profile/10506236048118129016noreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-56728920968324637912012-07-13T08:14:26.582-04:002012-07-13T08:14:26.582-04:00Great writing Bill!
One of the things I wonder, ...Great writing Bill! <br /><br />One of the things I wonder, that conveniently isn't ever mentioned in any of the news articles, is how big of a haircut are the decision makers taking? There is almost NEVER an article about the top earners taking a 10% cut to help "profitability".<br /> <br />I opened my newspaper this morning to see exactly this type of bottom screwing, only these aren't civil servants but soon to be un-civil servers.<br /><br />http://articles.orlandosentinel.com/2012-07-12/business/os-red-lobster-service-assistants-20120712_1_red-lobster-darden-restaurants-servers<br /><br />In a plan that starts nationwide Monday at Red Lobster, the chain owned by Orlando-based Darden Restaurants, will eliminate busboys, demote many waiters, and reduce the number of servers working each shift by assigning each four tables instead of three.<br /><br />At Red Lobster, some waiters and waitresses will be demoted to service assistants. Chili's has eliminated busboys and now pairs up servers who wait up to 10 tables at a time. That system has saved $25 million.<br /><br />Schauer wouldn't say how much Darden, which had $8 billion in annual sales this past year, will see in labor savings.<br /><br />Darden made tip-sharing mandatory at Olive Garden and Red Lobster last year, when it also slashed hourly wages for busboys and bartenders. The amount of tips servers will required to share will increase under the new system, workers say.<br /><br />Employees said people were selected for demotion based on performance reviews, amounts reported in tips and results of a personality test.Rusty Shacklefordhttps://www.blogger.com/profile/10506236048118129016noreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-23428177541476420172012-07-11T21:11:09.968-04:002012-07-11T21:11:09.968-04:00Perfectly executed bit of writing.Perfectly executed bit of writing.starskeptichttps://www.blogger.com/profile/02661141833059602897noreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-58676790721915208162012-07-10T16:00:23.505-04:002012-07-10T16:00:23.505-04:00Once again, excellent commentary on the disintegra...Once again, excellent commentary on the disintegration of society.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-79033414615964368252012-07-10T15:11:36.798-04:002012-07-10T15:11:36.798-04:00This excellent movie captured the essence of this ...This excellent movie captured the essence of this area of the country for me. I should know, I spent the first eleven years of my life there, or right next door in Dallas, Pa. It will fill you with despair, as if we need any more despair.<br /><br />http://mubi.com/topics/wanda-barbara-loden-1970Morocco Bamanoreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-82634208981856783202012-07-10T12:42:37.540-04:002012-07-10T12:42:37.540-04:00I thought at first that it would suck not getting ...I thought at first that it would suck not getting a Downward Spiral update everyday, but I like what you've put out since you've decided to "take a break". Seems like it's doing you a world of good and your commentaries are awesome.<br /><br />Thanksfurloadednoreply@blogger.comtag:blogger.com,1999:blog-3862216000300765627.post-53473462491838737142012-07-10T03:13:25.630-04:002012-07-10T03:13:25.630-04:00Interesting. Scranton is particularly apt as an ex...Interesting. Scranton is particularly apt as an example of energy decline. It was a booming coal town around WWII, and it had twice the population then as it does now. The coal went away, the people went away, the money went away.Anonymousnoreply@blogger.com