imiami, you jump to unwarranted conclusions. You say that everybody took a cut other than Hussey. How do you know that???? I'm saying that it's possible that he did take a cut, not that he actually did. Neither of us truly know that.
I think Augme was in big trouble. Someone had to step in and take control. They arrived at a comp deal for Hussey, and he agreed to try to right the ship. Do you disagree with his approach? Do you think he is taking us down the path to bankruptcy? If not, then what should the salary be for someone trying to turn the company around, cut costs and re-direct its focus, who was already in a good position to evaluate its warts? Should he make $100K? Why are you even worried about it? We've got bigger worries than Hussey's comp. If he does the job, and gets the stock price back up to $2.00 short-term, and ultimately sells us for $5-8, then whether he makes $350K or $2-million is irrelevant. It's pocket change to us compared to the value he created.
I'm just glad it's done so that we get some stability in the company and start moving forward again.
If RH really believed in the future of the comp*ny he would do what many other CEOs have done and that is take $1 salary and the rest in stock! Now that is putting performance as the driver to his pay!!! Else he is the same ole same ole and he has plenty of maney so maoney is not the issue!!!! Don't forget he is aprt of PAs buddys that blow each other every day and take ur money! And take it after they are gone from the company!!! Jiust ask mitt romney!!
Now you guys know why he hasn't purchased much stock!! Because he's been given over 250k shares!!!!!!! You guys will never learn. This puppy will never recover from previous shenanigans, continued dilution, litigation expense (with no wins, results etc). Its dead for all intents and purposes for at least 2 years unless it files for bk first. Next stop is in the .40's, then .30's. Open your eyes guys.
" And we’ve also implemented a 20% senior management PAY CUT, which is NOT a deferral, but a pay cut as I said. This cost reduction plan is not an end, but a beginning and we intend to continue to scrutinize our expenses, identify additional savings and carefully control our expenses going forward.