Well, the bonuses are absolutely incredible. The Parachute bonuses are pudding on the cake. If you were Steve Warshaw, what would you want to happen to the company? He has to go to work everyday trying to motivate employees, put up with unhappy stockholders, and try to justify his bonuses to the troops...i imagine it is not a pleasant experience. If he is lucky he can get out of the nightmare by letting the company sink and then get out as a multimillionaire!
What kind of incentive are they giving him?!!!
Even if we assume Steve doesn't want the $4.5 million, even if he tried he will never get this company out of the problem they are in. He and Carl and Keith and Bob created the problem and have had sufficient time to correct it. They are Harvard's prizewinner for best Case of how not to run a company.
This company is a dog. How could they accept those bonuses?!!! It just is beyond my imagination.
Having spent time inside CQB HQ, I can vouch for the fact that the place has been run like a fraternity house ever since Keith took over years ago. Top management was a bunch of buddies managing the company like it was a new toy: "Look, guys, a real life Monopoly set!"
Keith isn't exactly a moron, but he had absolutely no experience working in, much less running, a large company, and the place suffered as a result. The whole company was being run on voicemail (until the unfortunate issue with the Enquirer).
Once things began to go south, Keith scurried into a corner and Warshaw took over. Of course, Steve didn't know beans about the industry either and focused, instead, on perception management. Too bad he wasn't half as good at managing a business as he was at bullsh----g the analysts. Pretentious and closed-minded, his overestimation of his own abilities has finally caught up with him.
The only one at the top who adds any value at all to the business is Bob Kistinger, but it's probably too late for him to do anything. Soon enough, "Chiquita" will emerge merely as a brand name owned by another produce company, and the entire management structure will be eliminated. It's really too bad for the loyal Chiquita people who were unfortunate enough to relocate from the east coast to Cincinnati when Carl bought the company.
Why would anyone in his right mind move a banana company to Cincinnati, Ohio? That should have been first indication that the Lindner family had no idea into what they were getting themselves back in 1982.
Glad to see that Bobby K, Keith L. and Carl were all included among the guilty parties. Almost all of the decisions, that have brought this once proud company to the current situation, were made by Keith with the blessing of daddy!!!!!