Fundamentally I agree with you, but as a matter of practicality getting last year's bonuses reimbursed is nearly impossible.
What we can, however, do now is to petition the BOD to put an end to this " bonus " non-sense until there is a performance commensurate with issuing bonuses, period. You are very right in that this money is the share holders' money.
Declining revenues, along with decreased guidances on future revenues does not fit my definition of deserving a bonus.
As I understand it, bonuses will NOT be paid for Q3 for ANYONE in the company -- a first. This is a good step. For those thinking that mgmt is going to return their previous bonuses, dream on!
I personally have not given up yet. If they do not make anything happen in Q4, then I throw in the towel. Q3 (and Q2 for that matter) was pathetic and nothing less. There are no excuses, and noone should be making them. With the almost complete rebuild of the direct sales force and 6 month's time for BCE to gain traction, I am expecting to start seeing good things by the end of this quarter despite economic conditions. Maybe the C1 relationship could surprise as well.
Anyone heard anything about Feeney as of yet? I am really hoping that he is the heir to the Jeffery throne someday in the near future. I cannot believe a company of this size needs a SJ and COO.