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rccl exec. bonuses $$$

njtom

By njtom,
in Royal Caribbean International

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njtom

njtom

Posted
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Now i know where all my bingo bucks went.......

personally , i think their bonuses should get smaller for every person they lose overbord or go "missing" ...just a thought....

 

 

RCCL discloses executive bonuses

11/2/2006

Royal Caribbean Cruises Ltd. reported annual bonus amounts and salary changes for its top executives. According to a filing, 2005 bonuses are as follows: Chairman and ceo Richard Fain, $2,744,610; evp and cfo Luis Leon, $979,997; Royal Caribbean International president Adam Goldstein, $897,356; Celebrity Cruises president Dan Hanrahan, $568,901; and corporate evp revenue performance Brian Rice, $548,384.

 

The filing also noted that the 2006 base salary for Hanrahan was increased to $500,000 from $425,000, and for Rice, to $450,000 from $350,000. The increases in base salaries for other top executives were each less than 10%. Goldstein’s 2005 salary was $525,000. The 2005 salaries for Fain and Leon have not yet been disclosed. However, for the sake of reference, Fain’s 2004 salary was $987,000 and Leon’s, $509,000.

In addition, the following target bonus amounts were set for 2006: Fain, 130% of his base salary; and Leon, Goldstein, Hanrahan and Rice, 70% of their respective base salaries. For Fain, Leon and Rice, 75% of the target bonus will be based on company performance goals (a net income figure) and 25% on individual performance goals. For Goldstein and Hanrahan, 38% of the target bonus will be based on brand performance goals (a specific EBITDA figure), 37% on company performance goals and 25% on individual performance goals.

Depending on the level of net income achieved, the level of brand-specific EBITDA, and/or the individual goals achieved, 5% to 300% of the target bonus amounts may be awarded. According to the filing, after determining the bonus based on these factors, the amount may be increased or decreased by up to 15% at the discretion of Royal Caribbean’s Compensation Committee, depending on EBITDA performance levels relative to leading industry competitors.

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dyanna72

dyanna72

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You would think that they would take some of the money before the bonuses were givin out to help fix all those smelly sewage problems on board some of their ships as well as upgrade some of the menus so that they would not have to force people to eat in the specialty restaurants. Still would have been more than enought bonus money left for all.

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cruisinfanatic

cruisinfanatic

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You would think that they would take some of the money before the bonuses were givin out to help fix all those smelly sewage problems on board some of their ships as well as upgrade some of the menus so that they would not have to force people to eat in the specialty restaurants. Still would have been more than enought bonus money left for all.
11 cruises with RCL and haven't been forced to eat in any specialty restaurant
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wraithe

wraithe

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Now i know where all my bingo bucks went.......

personally , i think their bonuses should get smaller for every person they lose overbord or go "missing" ...just a thought....

 

My first thought, oh never mind, no point in being rude, especially when it would be so easy. As long as I can get a cruise at a reasonable price, and thoroughly enjoy myself like I did on Grandeur last Fall, I don't really give a dam* what they pay their executives. As a Chief Petty Officer in the Navy, I didn't expect to get paid what my Commanding Officer did, even when he made mistakes that were directly attibutable to him, and not something he had no control over. Goodness knows, I was happy that they didn't hold it against me when one of my guys got in trouble drinking or doing something equally stupid after I'd already talked about the new policies on drinking until I was blue in the face. If you're having too much wealth envy with RCL, vote with your dollars and go somewhere else. Just a thought.......

Wraithe

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njtom

njtom

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i did not imply that their company execs. don't deserve the bonus for their hard work. rccl is an excellent cruise line, and all four of my cruises have been on rccl, and my 5th cruise (and my honeymoon) will be on rccl also....as long as i can have 2 entrees and dessert every night in the dining room, i'm happy....if the company can afford to give the mthe bonuses, they by all means, do it!!! and soon a 10,000 person cruise will be out, rccl will be the first to have it. i think they are the bill gates of cruise lines, and i highly doubt i would ever cruise on another cruise line. keep up the good work, rccl!!!

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hdawson

hdawson

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I can't think of any industry impacted more by 9-11 and the subsequent economic turndown, than the travel industry, especially leisure travel.

This management team has lifted Royal Caribbean to a new day. Remember, the stock two or three yrs ago was selling for $9.00 per share. Today, $44.00. There is no reason not to pay these well-earned bonuses. Wish I had had the guts to buy the stock at $9.00.

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vacationbound

vacationbound

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FYI.........As a close relative;) of a CEO of a non-cruise related company, I can assure you that those numbers are VERY misleading!! Alot of that compensation is either deferred and unavailable for many years (and may NEVER be available based on performance and stock prices), or $$ given in the form of shares of stock grants that may never mature or obtain a profitable price. Nevertheless the compensation must be reported in the year given and appears that this person is actually receiving this money. Also, many execs are required to have a substantial amount of personal money directly invested in the company at any given time. (sometimes resulting in tight cash flow situations). I cringe every time our yearly "Report" comes out because I hope no one I know sees it and thinks this is what we are receiving! NOT TRUE !! There are so many tax and disclosure laws that must be satisfied that it's mind boggling!! Heaven knows I'm not saying they shouldn't exist....hint...Enron.....BUT life as a CEO is no longer the life it once was. These days the pressure, hours and hours away from their homes/families 24/5, and amount of travel is staggering! Some days flipping burgers at McD's doesn't sound so bad.....Can we afford to cruise once a year? Yes, and I am very thankful for every single blessing that comes our way, but sometimes the price is extremely high.

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mrstrod

mrstrod

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My first thought, oh never mind, no point in being rude, especially when it would be so easy. As long as I can get a cruise at a reasonable price, and thoroughly enjoy myself like I did on Grandeur last Fall, I don't really give a dam* what they pay their executives. As a Chief Petty Officer in the Navy, I didn't expect to get paid what my Commanding Officer did, even when he made mistakes that were directly attibutable to him, and not something he had no control over. Goodness knows, I was happy that they didn't hold it against me when one of my guys got in trouble drinking or doing something equally stupid after I'd already talked about the new policies on drinking until I was blue in the face. If you're having too much wealth envy with RCL, vote with your dollars and go somewhere else. Just a thought.......

Wraithe

 

Amen to that brother!

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superjerryw

superjerryw

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You could have been a CEO, all you had to do was set your sights on it!

 

I did set my sights on it. Every time I cruise with RCI or Celebrity I fill out my comment card and I volunteer to be the new CEO. I've written it on the comment card enough times so I can only assume they are ignoring me and/or not reading the comment cards......;)

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jcanino

jcanino

Posted
Posted
Now i know where all my bingo bucks went.......

personally , i think their bonuses should get smaller for every person they lose overbord or go "missing" ...just a thought....

 

 

RCCL discloses executive bonuses

11/2/2006

 

Can you tell me what the stock price will be on 11/2/2006 so I can decide if I want to buy now. :cool:

 

 

 

Yes, I realize it is 11 February 2006 but I had to be a smart a**.

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