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Post by wmdhunt on Apr 13, 2020 9:52:10 GMT -5
Ah well, they've certainly got nerve. It all will likely pass but there may be more of a pushback this time. I am not caring for how things are going personally.
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Post by cjm18 on Apr 13, 2020 10:55:10 GMT -5
Salaries are frozen for 2020. There was no pay raise.
Stock compensation. Based on 2019. Again not a raise. There were objective goals.
Somehow objective goals were rated at almost base value (just below 100%). This is the pickle.
Ceo taking a 50% pay cut. Would that suffice for everyone?
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Deleted
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Post by Deleted on Apr 13, 2020 11:39:00 GMT -5
YES....Mike said on one of the recent conference calls that Doctors have been asking to see their reps more. That caused Mike to reconfigure the salesforce and shrink territories so they can be closer to the doctors. Th Reps territories were too large and were spending a lot of DRIVE TIME. This is also the time when Mike decided to focus on Type 1 Endos and pullback from the Type 2 Market. Type 2's will take more time and energy because most are not on insulin and getting approval was troublesome. Plus with the Type 2 Study about the DROP this will give MNKD more ammunition and DATA to present to PCP's, Endos and PAYORS. Sorry but I have a really, really difficult time believing that doctors were "asking to see their reps more." No, I think the effort "to reconfigure the salesforce and shrink territories" was simply to save money. I vaguely recall reading something to the effect that some territories were dominated by managed care companies with policies so restrictive of sales reps that there was simply no point in having reps there. Well that's on you. You can believe whatever you want. The CEO said those words and I believe him. Go back and listen the the last 4 calls. It's on one of them. |
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Post by mango on Apr 13, 2020 11:44:34 GMT -5
Salaries are frozen for 2020. There was no pay raise. Stock compensation. Based on 2019. Again not a raise. There were objective goals. Somehow objective goals were rated at almost base value (just below 100%). This is the pickle. Ceo taking a 50% pay cut. Would that suffice for everyone? In the filing it specifically states, non-equity compensation. Correct me if I am wrong, but that eliminates the possibility of stock compensation. Salary increases and/or bonuses are two examples of non-equity compensation. |
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Deleted
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Post by Deleted on Apr 13, 2020 11:47:10 GMT -5
@chuckbass Since you made our point that there was not a single thing MannKind Executive Management did in 2019 that warrants salary increases and/or bonuses—that the Executive Management team simply performed his/her job duties within its boundaries, and not a single significant event justifies compensation increases— furthermore, just to make matters even worse for your case, you did not list a single event that could possibly warrant or justify salary increases and/or bonuses in light of a grand, nationwide economic meltdown and global pandemic. Therefore, MannKind Executive Management should forfeit any and all compensation increases being awarded to them for their 2019 performances, and do at least one of the following with that said money: • Donate the money to a diabetes charity/organization such a JDRF • Start a MannKind Scholarship Fund and donate the money into it • Put the money back into the Company to help fund the pipeline or something similar • Donate the money to their local community in Danbury, CT for those in need Any one of those 4 suggestions would be a righteous and noble thing to do, and I think even you can agree it would be more beneficial for them to do that versus accepting compensation increases that are not warranted nor justified—and, hypothetically speaking, even if they were warranted/justified it would still be the morally right and noble thing to do given the Company's, the Country's and the World's current situation. Being Righteous and Noble will not put food on the table for their families. I'm sure (but not positive) the executives provide for their families. WAKE UP!!! You keep saying it's not warranted or justified. Every mid to high level executive in a company has Yearly Objectives and that's what they are measured against. Everything I wrote are in his objectives. So don't sit here and say didn't accomplish anything the whole year. You're ABSURD. |
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Post by mango on Apr 13, 2020 12:05:03 GMT -5
@chuckbass Since you made our point that there was not a single thing MannKind Executive Management did in 2019 that warrants salary increases and/or bonuses—that the Executive Management team simply performed his/her job duties within its boundaries, and not a single significant event justifies compensation increases— furthermore, just to make matters even worse for your case, you did not list a single event that could possibly warrant or justify salary increases and/or bonuses in light of a grand, nationwide economic meltdown and global pandemic. Therefore, MannKind Executive Management should forfeit any and all compensation increases being awarded to them for their 2019 performances, and do at least one of the following with that said money: • Donate the money to a diabetes charity/organization such a JDRF • Start a MannKind Scholarship Fund and donate the money into it • Put the money back into the Company to help fund the pipeline or something similar • Donate the money to their local community in Danbury, CT for those in need Any one of those 4 suggestions would be a righteous and noble thing to do, and I think even you can agree it would be more beneficial for them to do that versus accepting compensation increases that are not warranted nor justified—and, hypothetically speaking, even if they were warranted/justified it would still be the morally right and noble thing to do given the Company's, the Country's and the World's current situation. Being Righteous and Noble will not put food on the table for their families. I'm sure (but not positive) the executives provide for their families. WAKE UP!!! You keep saying it's not warranted or justified. Every mid to high level executive in a company has Yearly Objectives and that's what they are measured against. Everything I wrote are in his objectives. So don't sit here and say didn't accomplish anything the whole year. You're ABSURD. Are you insinuating that MannKind Executive Management will not be able to put food on their tables if they do not accept their compensation increases for their 2019 [mediocre] performances? Because that is what you said.  Yearly objectives are expected metrics that are well within the given job duties/role of the position. Again, merely doing your job duties does not in any way, shape or form warrant salary increases and/or bonuses. You seem to not understand that for some reason. I assume you did not read the article either. It appears you are in favor of the rigged scoring system, and the status quo of pharma CEOs' increasing their pay not for exceptional job performances, but merely because they can and are in bed with the BoD. If you would simply read the article you would learn a thing or two. You repeating the same thing over and over does not address the issue at hand—you have yet to name a single significant event that MannKind Executive Management is responsible for that warrants and justifies salary increases and/or bonuses for performance year 2019. You can call it absurd all you want, but it will not change the reality and the facts. To repeat myself for one last time since you seem to not be able to comprehend much here, merely doing your job duties does not warrant salary increases and/or bonuses. |
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bkdmd
Researcher
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Post by bkdmd on Apr 13, 2020 12:09:44 GMT -5
Opinions are not right or wrong. They are just feelings. IT doesn't do any good to argue about feelings or opinions......but
The final judge of how how well MC has run this company isn't disputable. The share price is less than 25 cents. That says it all. It is what it is.
MC's number one priority is MC. It isn't shareholders. I believe has has lost what little credibility he had.
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