Originally Posted by
All Bizniz
Call me a cynic, but could it be their strategy to massage the numbers to only pay 5-6% in the great years (when it should've been > 10%), and then in less profitable years, they come out smelling like a 🌹, by still paying out 5%, assisted by the bounty from the previous record years?
Management derives a large portion of their income from the profit sharing/incentive program. Their “participation rate” is much greater than our 5% target. But it’s the same metrics that drive their bonus…so massaging the numbers would be shooting themselves in the face…
All this stuff is available in the proxies filed with the SEC, no mystery.