Dear Sam, et alia,
At his weekly crew meeting last week, my boss gave his workgroup the Non-Rep Incentive presentation he received from y'all (display only, no copies allowed, as you directed). He covered all the talking points on the PowerPoint slides and reviewed your FAQs with us but he was unable to answer my questions about other pertinent details, so I was kinda hoping you might be able to clarify a couple of things:
- The presentation told some story about the Company getting Board approval to grant us this "discretionary" award but no indication of when this occurred. We know that the Board didn't approve any payment to us when they approved increasing our Exec's bonuses, so just when in the three weeks since did our Execs approach the Board to grant our Earned Time Off and just what new details prompted the Company to do so?
- The pitch stated that a calculation "similar to" that used to increase our Exec's bonuses by six days of pay was used was used to determine our three day award. My boss understood and could provide a very detailed explanation or how the '0.81" factor was used to calculate Exec bonuses but was unable to describe any of the math whatsoever used to determine how or why the non-reps were granted an additional three days of ETO. Just which performance numbers and calculations were selected to determine this performance award?
- Tell me again why no cash payout. The presentation said something about how we're getting days off because it allowed the Company to grant us "more" than a cash payout would allow, but again there were no details about a cash vs ETO determination and my boss was unable to provide detail. As absolutely nobody who's been paying attention could believe our Execs would do anything "more" for us that didn't somehow benefit themselves, what's really going on here? Cash payout would require an embarrassing public SEC announcement while ETO can be hidden in the books or what?
I anxiously await your detailed answers in the Comments section, below.
-- Bill, who'll be awaiting winged primates again tomorrow morning as well...
