Originally Posted by SharpestTool

Denny,

No it wasn't compensation for past sacrifices. It was the best we could do for future compensation based on a very weak hand we were dealt post-bankruptcy. We would've opted for fixed pay increases if we would have had the negotiating leverage.

I certainly don't view it as compensation for past sacrifices but, as you said, it is tied to past sacrifices because we wouldn't have it without them.

I understand you value the insurance as a "bonus". Nothing wrong with that. What that insurance is worth is the question. The value changes with the business cycle. Are you willing to pay the premium when risk changes? That is the question.

Insurance? I do not look at it as insurance. An executive gets a bonus (extra compensation in the form of money or stock options) when s/he performs well. This can be measured a number of ways one of which is company profitability. This is our bonus. I want pay rates that reflect what I feel I'm worth. If a profit sharing check does not appear for the year, I will not be disappointed.

Profit sharing is a tool in which its value changes in the business cycle. We should look to monetize when its value is high and likely to be lower in the future. We can initiate it when its value is low and likely to increase in the future. It isn't good or bad. I'm saying I think it is a good time to capture value and reduce risk.