A bonus of more than 1/3 of a million? That shouldn't bother anybody.

[raccoon]

Wendy's agrees to sell Arby's to equity firm

By CHRISTINA REXRODE, AP Business Writer Christina Rexrode, Ap Business Writer – 57 mins ago
NEW YORK –

Wendy's/Arby's Group Inc. said Monday that it will sell a majority stake in its struggling Arby's brand to Roark Capital Group, the Atlanta private equity firm. The move marks the end of a short-lived union between the two fast-food chains, and represents a role reversal. Arby's started as the suitor in the relationship, and ended up on the chopping block.

(CEO Roland) Smith served as CEO of Arby's Inc. from 1997 to 1999 and again starting in 2007. He has been CEO of the combined Wendy's and Arby's since it was formed, and he said Monday that selling Arby's was "a little bittersweet" but best for both brands.

Smith should receive a cash bonus of $350,000 when the sale goes through, and general counsel Nils Okeson should receive a bonus of $100,000, according to regulatory filings. The company said the bonuses are "in recognition of their efforts in successfully completing the sale."

Smith said in the interview that he didn't think employees would be bothered by the bonuses.

"I would say that the folks in our company understand clearly how compensation works, and it is a very typical (bonus) that would come up any time we go through a change in our organization," he said. "I quite honestly don't think anyone's going to focus on it."

http://news.yahoo.com/s/ap/20110613/ap_on_bi_ge/us_wendy_s_arby_s_sale


Yeah, why in the world would employees making McWages be bothered by their CEO getting a bonus of more than 1/3 of a million?


:sarcasm:

[MineralMan]

1. Well, the sale was made at $430 million.

With that in mind, the bonus isn't that large, really. Successfully managing a sale of a company generally gets the manager a bonus. It's not flipping burgers.

Yes, Corporate executives are vastly overpaid, but this is a poor example you're using, really.

[Angry Dragon]

3. You are correct it is not a huge bonus, however

Why should he get any bonus when he failed to turn the company around??
That is why he got hired again and he failed.

Also, the words he used to describe the feelings of others was very poor.

I agree with the poster.

Where are the bonuses for the employees that also worked hard to save the company??

[Scuba]

2. Um, same reason nobody gets excited about someone making $2M per hour.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x597773

[Travis_0004]

4. If the bonus was paid to the employees, they would get about 5.00

Everybody bitches about CEO's bonuses, and I agree that they can be excessive.

According to wikipedia Wendys has 50,000 employees. Arbys has 25,000 employees. If instead of giving that bonus to the CEO, they gave it to every employee, each employee would get less than a 5 dollar bonus on their checks. After taxes, their take home pay might go up 3.00. I'm sure nobody would turn down 3.00, but it wouldn't even get them 1 meal where they work.

I get tired of people acting like the CEO's pay is what is keeping entry level wages down. Even if CEO's worked for free, that freed up money would still not earn anybody a significant pay increase.

[nomb]

5. I don't disagree with you, BUT....

I hate it when that argument is made, like when the cashier makes a mistake, but its ONLY a dime.

I've never seen a corporation, bank or government office ever say that when the money flows my way.

I'll take the five dollars thank you, even if it will only buy a burger.

[onethatcares]

6. I just wonder

how long will it take for the night manager of the southside store to get a bonus of any amount?

"I would sy that folks in our company understand how compensaton works" and I'm glad I'm getting 335 thousand dollars because those burger flippin, table cleaning, janitorial cleanup folks certainly don't need it.


"the company said the bonuses are "in recognition of their efforts in successfully completing the sale". WTF is up wit dat? Someone had the cash, someone had the merchandise, it's not like an Arbys is a rare artifact.

When we all do good, WE ALL DO GOOD.