RCL CEO'S compensation package

[A2Mich]

Welcome to 2015, and just about every freaking company today is doing the same! Any company is cheaping out where they, can so they can pay more to the top and stockholders; screw there customers and products made well to last! I wonder how all these new ships will be in 5 years? I bet issues!

 

 

You know that reminds me, on several threads here, there are a variety of posters whose sole response to people's concerns of high prices is along the lines of "that's business, of course they're going to maximize profits," or something along those lines to defend and justify companies' actions. Sadly enough, over the years, how many production jobs have been lost to Mexico, China, and other nations in increasing numbers. Why? Because these big corporate giants care about their workers, of course! Sadly, many go to whatever measures they have to simply to increase profits, yet these tactics are defended by so many. I may be wrong, but I would venture a guess that the ones who defend such corporate actions are not the ones who have ever had to work a production, factory, assembly job, nor known people affected by these business decisions. We have given away tens of thousands of jobs, hire illegal aliens for other jobs, and countless people were put out of jobs all in the name of corporate greed--nothing more. Sadly enough,there are plenty of people on this forum who agree that the end justifies the means---make the money no matter what it takes.

[Biker19]

Since it's all theoretical, why couldn't all the money go to the dishwashers?

Because they make enough from the auto-grats and min wage?

 

It's very simple folks - if you don't like the ethics of a company don't buy their products.

You don't like exporting of jobs and sweat shop conditions used by Apple, give up your iPhone and get a Motorola phone made in Dallas (and always buy Made in America products).

You think LeBron is overpaid, don't go to Cavs games. You don't like that the RCI CEO is making "too much" money, don't sail on RCI ships.

 

Biker, who thinks a lot of people talk a good game in terms of "fairness" but very few take action on it.

Edited April 11, 2015 by Biker19

[rimmit]

 

I know a lot of people say that cruising is cheaper now, and maybe it is, but I find that I am less willing to spend more money.

 

 

It's not a maybe. Thats a fact. Back in the mid 90s for a 12 night med. with inside cabin for 4 people with 3rd and 4th berth with airfare you were paying 12,000 with airfare, and airfare was much cheaper bakc then. That doesnt include excursions, tips, etc. major cruise line pricing was more in line with silver seas, regent, etc. and they were even higher.

 

Cruising used to be only for the 1 percent. With the building of glut the late 90s, cruising pricing drop dramatically as cabins increased. It is now an affordable middle class vacation.

 

If you want the old time cruise experience you have to abandon the big ship lines and go to the smaller more expensive brands.

[lovetocruise75]

Just for context:

 

Tim Cook, Apple's CEO, was compensated $9.22m in 2014 (in salary and shares).

 

Apple is the world's biggest, most value, company that's making money hand over fist.

 

$12m for the Royal Caribbean CEO seems a bit steep.

 

 

Wrong. Cook also had $94M in shares that vested in 2014

[marci22]

It's not a maybe. Thats a fact. Back in the mid 90s for a 12 night med. with inside cabin for 4 people with 3rd and 4th berth with airfare you were paying 12,000 with airfare, and airfare was much cheaper bakc then. That doesnt include excursions, tips, etc. major cruise line pricing was more in line with silver seas, regent, etc. and they were even higher.

 

I think it depends on the cruiseline you chose in the past and the deal you got.

[Big_G]

 

It's very simple folks - if you don't like the ethics of a company don't buy their products.

You don't like exporting of jobs and sweat shop conditions used by Apple, give up your iPhone and get a Motorola phone made in Dallas (and always buy Made in America products).

You think LeBron is overpaid, don't go to Cavs games. You don't like that the RCI CEO is making "too much" money, don't sail on RCI ships.

 

Biker, who thinks a lot of people talk a good game in terms of "fairness" but very few take action on it.

 

Agreed. It's to bad the populace position is to characterize solid business practice as unethical just because it may makes them reach deeper into their pockets. Results, all corporations are bad. :rolleyes:

[Aintnofun007]

You know that reminds me, on several threads here, there are a variety of posters whose sole response to people's concerns of high prices is along the lines of "that's business, of course they're going to maximize profits," or something along those lines to defend and justify companies' actions. Sadly enough, over the years, how many production jobs have been lost to Mexico, China, and other nations in increasing numbers. Why? Because these big corporate giants care about their workers, of course! Sadly, many go to whatever measures they have to simply to increase profits, yet these tactics are defended by so many. I may be wrong, but I would venture a guess that the ones who defend such corporate actions are not the ones who have ever had to work a production, factory, assembly job, nor known people affected by these business decisions. We have given away tens of thousands of jobs, hire illegal aliens for other jobs, and countless people were put out of jobs all in the name of corporate greed--nothing more. Sadly enough,there are plenty of people on this forum who agree that the end justifies the means---make the money no matter what it takes.

 

 

 

 

so you volunteer(ed) at your job or you did it for the money and got paid? why should a company be any different.

 

also ive never worked in a factory but have family that have worked and some still work for various car manufacturers. if everyone at GM gets similar compensation like my one uncle who still works there, its no wonder they were circling the drain. the moving benefits, the pay while the plant re tools, the health benies, etc.. it doesn't take to much calculation to figure out how much cheaper it could be made over seas.. he is extraordinarily compensated for not a lot of work and he'll gladly let you know that... And all he does is try to beat GM at every turn and badmouth them. So why should the company care about him, making all that money and still hates the company? if i was him and seen what happen to the industry and im sure many friends of lost there jobs, id shut up and go to work every day. but he feels entitled i guess. and i know where talking about just one person, but when he still lived around here and i would go to BBQ's at his house all his coworkers had a similar attitude/stance...

 

regulation does not help manufacturing in this country, go ahead and try to build a new plant somewhere that builds something. you could probably get it built in china in 1/8 the time.

 

but on another note as transportation costs increase and other economies lower class workers make more money and want more money i think you'll see and are starting to see some stuff come back SLOWLY, but i have hope!

Edited April 11, 2015 by Aintnofun007

[F27TW]

Welcome to 2015, and just about every freaking company today is doing the same! Any company is cheaping out where they, can so they can pay more to the top and stockholders; screw there customers and products made well to last! I wonder how all these new ships will be in 5 years? I bet issues!

 

 

Very true ... and it makes you wonder where else (behind the scenes and below the waterline) they might be cutting corners in order to save money, make the stockholders happy and ensure some fool CEO a multi-million dollar salary and package.

 

Might not just be in the places that are visible to or affect passengers. It does seem like there have been some technical (propulsion) issues in the recent past with RC ships ... hmmmm ..... wonder if theyre "adjusting" in other areas too in order to save some $$$ ....

[rimmit]

I think it depends on the cruiseline you chose in the past and the deal you got.

 

I think if you ask any long time cruiser they would disagree. I have been cruising since the late 80's and have seen the evolution of the market. I have been on premier(big red boat), rci, hal, carnival, disney, ncl, star, princess, celebrity and some expeditions.

 

Before in the late 80's early 90's most cruiselines were relatively equal IMO, with the exception of carnival, they were all pretty equal. They were all very high class with service that was truly 5 star. In the late 90's this began to change. Each cruiseline started to try and carve a niche in the market. Carnival always had the lower wnd party market. NCL went the freestyle route. RCI abandoned the high end market and left that the celebrity and marketed more toward families. HAL went for intellectuals and slower paced people. Disney entered the market and aimed at young families.

 

In the process of revamping their images they also went on a building boom. By increasing supply they had to lower the initial cost of entry onto the ships. Before, the cheapest price you would typically get on any cruiseline was YEARS in advance. Not the two months before. The pricing was not this endless dynamic pricing scheme that changes weekly. That all came about with the internet. Before You had to try for early booking discounts and rely *gasp* on brochures for prices!

 

Mainstream cruising is totally different today. If you took an avid cruiser from 1989 and put them in 2015 they would be in shock. The IDEA that I would board a ship and the room steward would not be immediately available to say hi and ask you what you needed would cause an outrage. Now boarding time is their break time. In the late 80's that would be unnacceptable and likely prompt a visit to he Cs desk. They would also be in shock at how cheap it is. But you get what you pay for. Inflation adjusted it's a three cruises for the price of one now.

[Justmekaren918]

Very true ... and it makes you wonder where else (behind the scenes and below the waterline) they might be cutting corners in order to save money, make the stockholders happy and ensure some fool CEO a multi-million dollar salary and package.

 

Might not just be in the places that are visible to or affect passengers. It does seem like there have been some technical (propulsion) issues in the recent past with RC ships ... hmmmm ..... wonder if theyre "adjusting" in other areas too in order to save some $$$ ....

In fact I am off Liberty as off 4/2 and Liberty being the newest to suffer said propulsion issues! Whatever they did; I have the loving feeling a good temp. fix! My interactive portion of my tv not working! I never got to see our speeds! It seemed like she was struggling some, and some big vibrations during heavier seas in WJ. We seemed like we got rocked around pretty good in the WJ a few times. I believe every newer ship minus Q has had propulsion issues.[emoji32] That's another reason why Brilliance is my favorite ship! Sturdy and well made. Not keen on Vision propulsion systems.

 

I was given a b-day gift of a 2015 Subaru Forester! If I could get every dime back I would hand the keys back! What a pos crap. The seats are pleather and very unsafe for dogs in the back and food. Oh I barley touched rock stairs and broke $1k of plastic. [emoji32] The thing is so state of the art clock doesn’t change itself.

 

I bought 2 Sunbeam humidfier 1 month ago they are headed back. Pos of crap. Many more examples of stuff for crap.

 

I do have a problem with this new culture of CEO pocketing 1000% more then the minions! I doubt Royal has that many legal employees that someone mentioned, because most are contracted employees; which means Royal isn't paying benefits to most.

 

Hence that lovely announcement the day of Quantum launching saying tablets for all, but yet none have been handed out! That is beyond not cool! Comes via a very long standing cabin attendant. Unfortunately there isn't a place to escape this anymore. Outcontrol greed is here to stay and it is in everything!

[DirtyDawg]

Another yawner of a thread. Debating the CEO's comp. package. :rolleyes:

 

If you don't like his package either don't buy from his company or buy some shares and lead a shareholders' revolt.

 

Just stop with all this whining already.

[TexCruise371]

Because they make enough from the auto-grats and min wage?

 

It's very simple folks - if you don't like the ethics of a company don't buy their products.

You don't like exporting of jobs and sweat shop conditions used by Apple, give up your iPhone and get a Motorola phone made in Dallas (and always buy Made in America products).

You think LeBron is overpaid, don't go to Cavs games. You don't like that the RCI CEO is making "too much" money, don't sail on RCI ships.

 

Biker, who thinks a lot of people talk a good game in terms of "fairness" but very few take action on it.

 

Another yawner of a thread. Debating the CEO's comp. package. :rolleyes:

 

If you don't like his package either don't buy from his company or buy some shares and lead a shareholders' revolt.

 

Just stop with all this whining already.

 

Totally agree.......

[shipshape sam]

I think it depends on the cruiseline you chose in the past and the deal you got.

 

Past is relative also. I would think most are thinking the main stream cruise lines and back to mid 1990's or early 2,000's. That's what I think of as it is my frame of reference when we sailed first in 1998.

 

I can attest that, prices have gone up for specific cabins we used to book. I used to book aft facing CC category cabins for mid 2,000's for 14 day cruises. Now they are mid 3,000's and higher and Concierge has 3 levels within the category.

 

Can I still get a balcony cabin for mid $2,000's? I am sure, but not the premium ones we used to get on a regular basis. My first 3 cruises on Celebrity were in CC aft cabins. Outliners are to be had, so the exception is not a fair comparison to what most cruisers find with looking and booking a cruise.

 

The real question is has the 'value' proposition increased proportionately? If so, then one can argue prices have not increased. That though is a subjective question. For us, the answer in NO. Thus we don't book CC and above. We are low maintenance cruisers and our cabin is just a place to crash, although DW wants balcony. I could care less, so we get a balcony. :)

 

As to Richard Fain and compensation, the controlling shareholders must feel he is providing 12 Million of value. It is their money.

 

I think he has done a very good job as RCL and Celebrity are always ranked high and the stock itself has returned a nice profit to shareholders.

Edited April 11, 2015 by shipshape sam

[Royal2464]

Those of you that are bothered by a CEO's compensation package in a "free market economy " should book your cruises with a cruise line from a socialist country. Then you can have a "Progressives and Socialists Meet and Mingle."

[A2Mich]

Those of you that are bothered by a CEO's compensation package in a "free market economy " should book your cruises with a cruise line from a socialist country. Then you can have a "Progressives and Socialists Meet and Mingle."

 

 

Exactly what I was expecting. Where do people come up with the notion that people are socialists if they don't agree with the rich getting richer off the backs of the lower paid ones? I think the real issue is that small locally owned companies tend to care about their employees and customers. The large publicly traded ones could give a rats butt about anyone other than their shareholders and execs. And I really do think that the ones who are OK with paying these execs these ridiculous salaries are the very ones that are in similar positions themselves.

[Aintnofun007]

Exactly what I was expecting. Where do people come up with the notion that people are socialists if they don't agree with the rich getting richer off the backs of the lower paid ones? I think the real issue is that small locally owned companies tend to care about their employees and customers. The large publicly traded ones could give a rats butt about anyone other than their shareholders and execs. And I really do think that the ones who are OK with paying these execs these ridiculous salaries are the very ones that are in similar positions themselves.

 

 

quite clear who you voted for the last two elections, haha jk

 

so two things why don't you rebel and cancel you upcoming cruises?

 

and why don't you go enroll in some prestigious school like Wharton, get an MBA and become an exec yourself and reap the rewards?

[A2Mich]

quite clear who you voted for the last two elections, haha jk

 

so two things why don't you rebel and cancel you upcoming cruises?

 

and why don't you go enroll in some prestigious school like Wharton, get an MBA and become an exec yourself and reap the rewards?

 

 

No, I did not vote for Obama. I don't have anything against companies making a profit. I do have a problem with them making the almighty dollar at the expense of those who earned them the money. Such as years ago, when Michael Eisner was still in charge at Disney. Hourly workers had their pay frozen, benefits cut, many reduced to part time to avoid giving them benefits, uniform laundry service discontinued, among other things, all in an effort to cut costs. Yet, Disney posted record profits, and the execs posted record earnings and stock dividends. I'm sorry, and I know others won't agree with me, but shafting your own workers and cutting what should be theirs to simply bolster the company's bottom line and further fatten the wallets of the execs is not the right thing to do. Sure it makes the company more money, but is it the morally right and ethical thing to do? Oh I forget---seems that some people have no morals or ethics. They got lost in the pursuit of the almighty dollar somewhere.

[A2Mich]

Aintnofun---sorry, can't seem to edit posts from my phone--I'm not singling you out here by any means. Sorry, can't afford to go to a prestigious school like that. I've actually had to work hard for everything I have. Wasn't born into money like some extremely fortunate people are. CEOs and not an asset to any company. They do absolutely nothing to provide any income to the company. Sure they are supposed leaders and should be compensated as such, they are not worthy of tens of millions of dollars per year--same as any professional athlete. Absolutely not worth that kind of cash.

[Biker19]

Sure they are supposed leaders and should be compensated as such, they are not worthy of tens of millions of dollars per year--same as any professional athlete. Absolutely not worth that kind of cash.

The market (and consumers) seems to disagree with you.:cool:

[A2Mich]

The market (and consumers) seems to disagree with you.:cool:

 

 

And that's fine

[marci22]

and why don't you go enroll in some prestigious school like Wharton, get an MBA and become an exec yourself and reap the rewards?

 

Didn't they design Quantum for the NY market? They were promoting Quantum to the East coast like mad. Had to spend millions on that marketing campaign.

 

And when Bermuda said they weren't going to fix their channels without more $ help, RC pulled out and said 'we're going to China'? And now they have to rip apart a totally new ship to 'fix' it for the Asian market? And this new market is basically a test built on hopeful projections?

 

I didn't go to Wharton but it seems like you need more than smartness to succeed in business. You have to have luck and a big reservoir of cash (made by cutting benefits and increasing drink and food prices while lowering quality) in order to fix your own mistakes.

[A2Mich]

Didn't they design Quantum for the NY market? They were promoting Quantum to the East coast like mad. Had to spend millions on that marketing campaign.

 

 

 

And when Bermuda said they weren't going to fix their channels without more $ help, RC pulled out and said 'we're going to China'? And now they have to rip apart a totally new ship to 'fix' it for the Asian market? And this new market is basically a test built on hopeful projections?

 

 

 

I didn't go to Wharton but it seems like you need more than smartness to succeed in business. You have to have luck and a big reservoir of cash (made by cutting benefits and increasing drink and food prices while lowering quality) in order to fix your own mistakes.

 

 

Yep

[Aintnofun007]

Didn't they design Quantum for the NY market? They were promoting Quantum to the East coast like mad. Had to spend millions on that marketing campaign.

 

And when Bermuda said they weren't going to fix their channels without more $ help, RC pulled out and said 'we're going to China'? And now they have to rip apart a totally new ship to 'fix' it for the Asian market? And this new market is basically a test built on hopeful projections?

 

I didn't go to Wharton but it seems like you need more than smartness to succeed in business. You have to have luck and a big reservoir of cash (made by cutting benefits and increasing drink and food prices while lowering quality) in order to fix your own mistakes.

 

 

you can talk about cuts all you want, people are still cruising. do the cuts make a cruise less enjoyable. sure do, but until the market really reacts to the cuts and RC has a bunch of bad quarters i highly doubt anything will change and the cuts will keep coming.

And to say they made a bad decision on quantum in the NY market maybe they did or maybe there is more money to be made in china. so if they make more money in china is it really a bad decision?

 

. I'm sorry, and I know others won't agree with me, but shafting your own workers and cutting what should be theirs to simply bolster the company's bottom line and further fatten the wallets of the execs is not the right thing to do. Sure it makes the company more money, but is it the morally right and ethical thing to do? Oh I forget---seems that some people have no morals or ethics. They got lost in the pursuit of the almighty dollar somewhere.

 

there are some companies who still value there employees, but that's why you pay $7 dollars for a cup of coffee at starbucks when you can get a cup of coffee and a hardroll at a convenience store for $1.50.

[A2Mich]

you can talk about cuts all you want, people are still cruising. do the cuts make a cruise less enjoyable. sure do, but until the market really reacts to the cuts and RC has a bunch of bad quarters i highly doubt anything will change and the cuts will keep coming.

And to say they made a bad decision on quantum in the NY market maybe they did or maybe there is more money to be made in china. so if they make more money in china is it really a bad decision?

 

 

 

there are some companies who still value there employees, but that's why you pay $7 dollars for a cup of coffee at starbucks when you can get a cup of coffee and a hardroll at a convenience store for $1.50.

 

 

Yes there are some, but that seems to not be the norm with many larger companies. Sadly.