How convenient for the managers at Staples? If you don't hit your numbers, just ask the board to change the rules to pay out bonuses any way as if you did hit your numbers. Sort of like the Veterans Administration managers claiming they give patients care within 24 days rather than the actual 117 days. How would you like to be an owner of Staples stock? Well it could be worse, you could be a Staples employee who is not bonus eligible and have to stomach going to work every day with managers who just received bonus pay of 10% to 15% of their annual pay for the work that employees do every day without bonus and at heightened risk of losing that meagerly paying job because there is less available cash that the company knows what to do with it. So they placate shareholders with a dividend which is nice, but make their profit targets by culling through those rank and file employees who just aren't doing the job well enough, fast enough, or with enough "following of the rules" to be kept around.
"Making more happen" is more like "Taking more from others." This is at least what I got out of the
Boston Globe piece who are more familiar with the shareholders voting disapproval.
Staples stock ended trading at the time of this post at $10.95, down from a 52 week high of $17.30 per share. The company is led by the same sociopathic Harvard Business School leadership training and philosophy of "pay me first before I do anything of substantive value and to which I accept no responsibility or accountability because I came from Harvard or Accenture or Bain or McKinsey" management style that took Circuit City from leading their specialty retail industry category to extinction. After all, what's a billion dollars in free cash flow between friends from Harvard, right?
