This board has been silent for over a month now. What happened? Did Parker put the squeeze on personal use of office computers? I know they did several years ago when they blocked access to the internet web sites. Either that or everyone has just lost interest. Hope that isn't the case.
Eaton doesn't have this problem, they're pretty active on their board.
My point is that you can tell a lot about a company by how it transacts: If the $ to CEO in event of a takeover is irrelevant, why has it been calculated, and why is it in writing?
If the company is making a big deal about share buybacks but not shrinking the float because of issuance to execs, that's not shareholder-friendly, and that's an issue.
I bought below $75 b/c I sensed intrinsic value. The more PH disclosure I read, however, the less value I see. You are free to draw your own conclusion-
Kind of contradicting isn't it? First you say you won't take a position unless there is common shareholder-friendly action and now you say you have a position (small but a position). Are you just trying to promote an argument of something? Time to drop this whole immaterial discussion.
You seem to miss the key words; ie: "in the event of a takeover". Do you expect one? I don't.
Position 839 shares at avg. cost $73.34. Have just reread October 2011 proxy. Sticking by my guns that executive comp is out of control. $78 million to CEO in event of takeover? (page 62)
You all are cheerleaders b/c the system is fattening you. Not adding til see common shareholder-friendly action.
More: I assume that you haven't got a position in any company based on your thought process. There just aren't any that are aligned with what you call "common shareholders". Besides what does all this mean to you since you don't have any of the stock?
I'm not a crusader, just a retired former beneficiary of Parker's compenstion system. And I earned it over 35 years.
You've got to be kidding. That's your reason for not investing in PH? Taking that view has lead to you missing out on one of the best industrial growth stories, cash machines, and stocks of the past 2 decades.
You are quite the crusader. Let's talk about deferred comp, stock options issued versus buyback, golden parachute in event of takeover (was it $48 million?)
If I am going to accumulate a position in a company, I want the Mgmt directly aligned with common shareholders. All of the above give me pause...
I don't disagree with you regarding excessively high executive comp. I just feel in light of what the top CEO's get paid, Parker is not that far out of line and based on their results seemed to deserve it. At least they are providing leadership and guidance that will benefit a lot of people with jobs and an opportunity to earn returns on their stock investments. Which is more than you can say for sports stars making millions each year for just a few games and entertainment. No question in my mind that compensation at upper levels of operations, sports, entertainment, etc. have gotten out of line over time but how much harm (if any) has it done? I wouldn't be adverse to paying more for better government legislators than we now have particularly at the federal levels if it would improve our way of life instead of taking us down the tank. Good luck on your investments, I hope the returns justify the compensation management gets.
I said as long as they perform it's fine, and they've been performing. I don't work for Parker. These guys work form. Not really complaining much mind you. In general I think executive pay is too high, not that I think Parker is especially egregious in that regard. I'm long and don't expect these guys to work for free.
It is defensive. Having been a 35 year employee of Parker I have a problem with people that criticize rather than support. Save your time on researching CEO compensation. Forbes publishes it annually and if you want look it up on the internet and you will see the 2010 results. (Too early for 2011 results). Out of the Forbes 500 top corporations the Parker CEO ranked 103rd with total comp of 17 million and if you read that Parker proxy again you will see his compensation for 2011 dropped to 12 million which lowered his ranking even more. Get facts before you make statements. By the way, didn't have to make excuses to my parents. I was honest and they were understanding.
Your response sounds frankly defensive. When I can, I'll pull some specific figures. Don't buy the "It's what everyone else is doing" argument...it didn't work in 10th grade with my parents, either.