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James R
Joined: Oct 2001
Posts: 1278
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Because that .3 million will help the company lose its 2 billion dollar debt.
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| 10/3/2006 5:53 PM |
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Chris L
Joined: May 2001
Posts: 7362
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I also don't understand this. Sure, it could have been prearranged before all Shapiro's promises for this summer went unfulfilled, but it's absolutely ludicrous. $300,000 is a lot of money. And so is the half million increase to his bonus. Makes me sick. When was the last time we've even heard from this guy? Looks to me he's followed Kieran Burke and Michael Eisner down the same path. Making promises he can't keep. Accepting bonuses and raises when the company's in financial stress. Cutting park budgets across the board so they have to lay off employees, meet-n-greet characters, ride operations, etc...
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| 10/3/2006 5:59 PM |
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coastrfreak2000
Joined: Jan 2006
Posts: 788
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[sarcasm] Woot! Way to go Six Flags! Give Shapiro more money because he really deserves it! He runs the most superb park chain ever that can afford anything! [/sarcasm]
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| 10/3/2006 6:14 PM |
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all4thx
Joined: Mar 2002
Posts: 35
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Whoa! Michael Eisner earned his salary and bonus. Under his tenure Disney grew into an empire. Ignore the few "know-it-all" enthusiast critics who paint the wrong picture about him. He may have struggled at the very end, but aside from that Eisner is well repsected for what he did and earned it. Do your homework before your criticize.
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| 10/3/2006 6:58 PM |
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I love DW
Joined: Jun 2006
Posts: 1961
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This is the dumbest move I think I have ever seen in the Six Flags company how dumb do you have to be to give some one a $300,000 raise when the company is in a $2 billion debt. They need to take that money and put it toward the debt. If the guy was at all conserned for the parks he wouldn't accept it, because I'm sure $1 million should be enough for him to survive until the company is doing better.
^^^And by the way Chris L it doesn't really matter but you have three to many zero's on your amount.
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| 10/3/2006 7:03 PM |
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Chris L
Joined: May 2001
Posts: 7362
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^^ Seems like you're the one who really doesn't know much about what happened with Eisner. He didn't struggle at the end, he and select "uppers" at Disney were accepting million dollar raises when Disney's stock performance was slipping. He cut budgets from Hong Kong Disneyland and other amusement park projects and opened them "half-assed" which was reflected in the lackluster attendance figures. Go Google it. You'll find out everything you need to know about the right picture about Eisner.
http://www.sec.gov/Archives/edgar/da...5/dex991.htm />
http://www.sec.gov/Archives/edgar/da...215/dex9911.htm
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| 10/3/2006 7:05 PM |
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Joseph
Joined: Aug 2005
Posts: 1282
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Though I don't agree with it, that is an awfully low salary for a CEO. And think of how much money he has lost with the stock depreciation ;)
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| 10/3/2006 10:42 PM |
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BGWfanatic
Joined: Aug 2005
Posts: 1864
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And six flags strikes again...
How about they actually make some improvements and THEN award shapiro.
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| 10/3/2006 11:10 PM |
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Zingoman
Joined: Dec 2004
Posts: 1299
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I would call a million dollars a high sallary not matter what your freakin job is. I don't care if you are a CEO. what does he NEED that money for?? It does not take a million dollars for a human to survive comfortably. This is ridiculous.
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| 10/4/2006 12:02 AM |
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pipesdrums
Joined: Jun 2004
Posts: 1380
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It is certainly nice to see that the raised parking prices are being put to good use.
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| 10/4/2006 12:07 PM |
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ltngrcr9051
Joined: May 2001
Posts: 403
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I guess Mr. Shapiro didn't think that his first golden parachute wasn't big enough... Oy vey.
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| 10/4/2006 12:10 PM |
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CHILLERLC1
Joined: May 2001
Posts: 7870
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He's doing the "in" thing.
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| 10/4/2006 6:35 PM |
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Zingoman
Joined: Dec 2004
Posts: 1299
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So what is better? To get a crap load of unneeded extra money from your company while you still can and let it continue to be driven into the ground, or to take a paycut so that your freaking company can have a little less to worry about while it is struggling? I could never take extra money from a company that is in financial distress. That is outragious! "uh, gee you guys. I've got all these decisions to make. I'm not sure I can handle that without at least a couple hundred thousand dollars to wipe the sweat from my forhead with. You think you could lay a few people off so I can fatten up my VAULT that I call a wallet?"
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| 10/4/2006 10:00 PM |
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I love DW
Joined: Jun 2006
Posts: 1961
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I think once this company get turned around starts showing profit then they should give hime a raise but not until then. And the way there going I don't think he should have gotten a raise for at least 5 or more years.
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| 10/4/2006 10:44 PM |
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Richard Wilson
Joined: Jul 2001
Posts: 1648
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That salary increase is a paltry figure and really won't have any effect whatsoever on the bottom line of the company. The company is going to be in trouble for a number of years to come and this is irrespective of who is at the helm. I would be thankful if anything that they have a CEO with some degree of vision on a fraction of the salary any other in his position would command.
It's NOT, I repeat NOT, about rewarding a CEO who has achieved great financial things (if it were his paycheque and bonuses would be five times what they are). It's about retention. At the end of the day it would be far more costly than $300,000 to replace Shapiro with a new face.
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| 10/4/2006 11:15 PM |
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Mrceagle
Joined: Sep 2002
Posts: 1928
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This is by far the worst Move the chain has maid this year. When a company looses million for the year you don't give your CEO a .3 million raise. Allot of you have mentioned the debt. how about this, think about how many gallons of paint .3 million would buy. How much better you can take the parks looks to get customers to return more then once a year or at all. I admit some of Shapiro's ideas are good but many Enthusiasts have said that should be done like painting rides, increasing landscaping, working on there customer service, etc. So he's not exactly an innovator. every idea he has hes Stolen from another company. so why should he even be paid 1 million.
Bad move this money and the Bonus money needs to be put to better use within the company.
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| 10/8/2006 2:53 PM |
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More about News
Oct. 3rd, 2006 -- The top executive at Six Flags Inc., Mark Shapiro is to receive a raise despite the company's financial and operation struggles.