Disjointed?

[markdgriffin]

I acknowledge and, to a certain extent, am sympathetic to the challenges being faced by Regent post-pandemic.  Parent company deep in debt, struggling with profitability, trying to deliver on the promises of the past under completely new circumstances, under pressure to meet high customer expectations, all doing so with a new leader at the helm.  Illustrative of the tough environment in which Regent is operating is a card my wife received yesterday (May 31) for her June 27 birthday signed by Jason Montague, who was replaced by Andrea DeMarco effective December 31, 2022.  We are scheduled for the Splendor August 31 Reykjavik to Copenhagen itinerary and are hopeful most of the "wrinkles" are ironed out by then.

[Kwaj girl]

Jason is still onboard in a consulting capacity

[irishwitchy]

“It’s the thought that counts!”   (Everyone’s mom has said this.) Perfect - NOT,  but we aren’t little kids any more.  

[Pcardad]

13 hours ago, Kwaj girl said:

Jason is still onboard in a consulting capacity

He is onboard to for his stock options. I would be very surprised if he was doing anything more than collecting them.

[papaflamingo]

31 minutes ago, Pcardad said:

He is onboard to for his stock options. I would be very surprised if he was doing anything more than collecting them.

That's a pretty hard criticism of a guy who everyone seemed to like and who most agreed did a good job.

[Pcardad]

20 minutes ago, papaflamingo said:

That's a pretty hard criticism of a guy who everyone seemed to like and who most agreed did a good job.

It is industry practice to retain top level executives on paper so they can collect their options. I've met him and liked him personally so my comment is more to the practice of retaining highly paid people after they are replaced in order to allow them to earn more.

[papaflamingo]

9 hours ago, Pcardad said:

It is industry practice to retain top level executives on paper so they can collect their options. I've met him and liked him personally so my comment is more to the practice of retaining highly paid people after they are replaced in order to allow them to earn more.

Still think it's pretty harsh. Could be he actually IS consulting.  But you know what?  It's really none of my business anyway.  I just choose to not sully the reputation of someone with no real knowledge of the situation.  Maybe I choose to be naive, or maybe I just have more respect for people based on past performance.

Edited June 2, 2023 by papaflamingo

[Pcardad]

7 minutes ago, papaflamingo said:

Still think it's pretty harsh. Could be he actually IS consulting.  But you know what?  It's really none of my business anyway.  I just choose to not sully the reputation of someone with no real knowledge of the situation.  Maybe I choose to be naive, or maybe I just have more respect for people based on past performance.

As I clarified, my comment has nothing to do with the man personally....it pertains to all the people who left with a huge golden parachute. No sullying of reputation.

[papaflamingo]

Just now, Pcardad said:

As I clarified, my comment has nothing to do with the man personally....it pertains to all the people who left with a huge golden parachute. No sullying of reputation.

So stating that "He is onboard to for his stock options. I would be very surprised if he was doing anything more than collecting them". .."has nothing to do with the man personally,"   but "pertains to all the people who left with a huge golden parachute?"  Seems pretty well directed at one individual and his reputation. Apparently you fooled me. Thanks for clearing that up. 

[Pcardad]

14 minutes ago, papaflamingo said:

So stating that "He is onboard to for his stock options. I would be very surprised if he was doing anything more than collecting them". .."has nothing to do with the man personally,"   but "pertains to all the people who left with a huge golden parachute?"  Seems pretty well directed at one individual and his reputation. Apparently you fooled me. Thanks for clearing that up. 

I don't know how to say it any more clearly than it is my understanding that it is customary to keep people onboard to collect stock options. The normal PTE window is 90 days. I am clearly stating that I an not implying any negative other than I think they were given 2 year PTE windows as a consideration for their service. I do not think they are expected to work during this time....but I could be wrong. There is no negative comment here...I am just sharing my understanding of public terms of their "severance". Do not read anything more into this.

 

[papaflamingo]

11 hours ago, Pcardad said:

I don't know how to say it any more clearly than it is my understanding that it is customary to keep people onboard to collect stock options. The normal PTE window is 90 days. I am clearly stating that I an not implying any negative other than I think they were given 2 year PTE windows as a consideration for their service. I do not think they are expected to work during this time....but I could be wrong. There is no negative comment here...I am just sharing my understanding of public terms of their "severance". Do not read anything more into this.

 

Ok.  Actually I didn't "read" anything in your posts, I simply took them for face value. Still think it's unnecessary and harsh criticism to publicly state that someone who was well like and respected is collecting a salary for simply being "onboard to for his stock options," and you   "would be very surprised if he was doing anything more than collecting them."  But whatever you say.

[Pcardad]

28 minutes ago, papaflamingo said:

Ok.  Actually I didn't "read" anything in your posts, I simply took them for face value. Still think it's unnecessary and harsh criticism to publicly state that someone who was well like and respected is collecting a salary for simply being "onboard to for his stock options," and you   "would be very surprised if he was doing anything more than collecting them."  But whatever you say.

Read the salary and contract agreements...they are all public record. You would be surprised how much money was handed out recently. I won't put them here...no need to fan the flames.

[papaflamingo]

22 hours ago, Pcardad said:

Read the salary and contract agreements...they are all public record. You would be surprised how much money was handed out recently. I won't put them here...no need to fan the flames.

Someone else's salary and contract agreements are, seriously, none of my business.  Just like my financial information is none of any one else's business.  And honestly, I really couldn't care less what others earn or how they earn it.  😏

Edited June 4, 2023 by papaflamingo

[Pcardad]

27 minutes ago, papaflamingo said:

Someone else's salary and contract agreements are, seriously, none of my business.  Just like my financial information is none of any one else's business.  And honestly, I really couldn't care less what others earn or how they earn it.  😏

Thats because you are not a pricipal officer in a publically traded company. To the stockholders it is absolutely thier business and the info is released to the public in compliance with SEC regulations.

[papaflamingo]

3 hours ago, Pcardad said:

Thats because you are not a pricipal officer in a publically traded company. To the stockholders it is absolutely thier business and the info is released to the public in compliance with SEC regulations.

It's because I'm not nosy and don't get into other people's business.  

But according to what was posted, he was being retained as a "consultant."  Is that not correct?  Did the public filings state that he was only "onboard to for his stock options" as you stated? 

Edited June 4, 2023 by papaflamingo

[Pcardad]

6 minutes ago, papaflamingo said:

It's because I'm not nosy and don't get into other people's business.  But if I did, does the public filing state that Jason is being retained as a consultant or to simply "onboard to for his stock options" as you stated?  

As a stockholder, any public release of information is 100% my business and my DUTY to read. There are hundreds of pages of SEC filings, please feel free to avail yourself of this opportunity to read them. I have CLEARLYT stated MULTIPLE times that I am not sullying anyone's reputation and I am speaking to the COMMON corporate practice of retaining an employee so that they can use their options. I have said that I have met Jason and liked him and I also think he did a fine job. I think if you read the public material, you would be very surprised at what has gone down in the past 6 months.

[fizzy]

Thank you Pcardad for your interesting observations. I am glad to learn about some of these things as a stockholder. I hope this CC board does not go back to the way it was awhile ago when so many  discussion topics turned into a battle.

[carolina cruisin]

1 minute ago, fizzy said:

Thank you Pcardad for your interesting observations. I am glad to learn about some of these things as a stockholder. I hope this CC board does not go back to the way it was awhile ago when so many  discussion topics turned into a battle.

Ditto!  We have strayed a bit from the good intentions of the forum.

[pappy1022]

Thank you Pcardad. You have always been a source of useful information and I appreciate it very much. Some folks just got to argue for argues sake and don’t respect the thoughts and opinions of others. Your opinions are always welcome for me because you are balanced and although you often are very complimentary of Regent, you are also willing to be critical if needed. In this case all you are doing is pointing out facts that are public information. We should all be aware of where Regent spends its money. They have huge debt that added significant annual expense. They have to increase revenue and/or decrease expenses to pay for all that debt. It is simple math and paying out huge bonuses and stock options adds to the expense. 

[Pcardad]

Apologies. I do no t wish to argue but I also do not want to be accused of something it was not my intention to do. 


This explains the PTE window, how it is typically 90 days and you can see that the 2 year PTE window offered to certain employees is not at all common. 

https://carta.com/blog/pte-90-day-window/

The 2022Q4, 2022EOY and 2023Q1 filings also have a lot of good info about benefits available to certain employees going forward including retention of some nice benefits.

[BuckGood]

On 6/1/2023 at 5:37 PM, markdgriffin said:

I acknowledge and, to a certain extent, am sympathetic to the challenges being faced by Regent post-pandemic.  Parent company deep in debt, struggling with profitability, trying to deliver on the promises of the past under completely new circumstances, under pressure to meet high customer expectations, all doing so with a new leader at the helm.  Illustrative of the tough environment in which Regent is operating is a card my wife received yesterday (May 31) for her June 27 birthday signed by Jason Montague, who was replaced by Andrea DeMarco effective December 31, 2022.  We are scheduled for the Splendor August 31 Reykjavik to Copenhagen itinerary and are hopeful most of the "wrinkles" are ironed out by then.

I’m not sure what “ wrinkles “ you are referring to! We were on board the Splendor April/May for 18 nights and it was Wonderful, other than loud children running at will, and will be on board August 7th for 16 nights and looking forward to seeing the crew again! There weren’t any “wrinkles “ from what we saw! You might want to have a more Positive attitude or you won’t have a good time! IMO! 

[BuckGood]

On 6/3/2023 at 7:49 AM, Pcardad said:

Read the salary and contract agreements...they are all public record. You would be surprised how much money was handed out recently. I won't put them here...no need to fan the flames.

Who Cares? 🤷‍♂️

[papaflamingo]

9 hours ago, Pcardad said:

As a stockholder, any public release of information is 100% my business and my DUTY to read. There are hundreds of pages of SEC filings, please feel free to avail yourself of this opportunity to read them. I have CLEARLYT stated MULTIPLE times that I am not sullying anyone's reputation and I am speaking to the COMMON corporate practice of retaining an employee so that they can use their options. I have said that I have met Jason and liked him and I also think he did a fine job. I think if you read the public material, you would be very surprised at what has gone down in the past 6 months.

I guess I get an opinion too , so, to me, you came across as actually sullying the man's reputation.  You made a very simple statement that indicated that you thought he was basically "sitting around collecting free money."  That may not have been your intention, but that's how it came across to me.  No discussions of contracts, buy outs, board actions, etc.  Simply in answer to one poster's comment that Jason Montague was in a consulting role, YOU stated simply "He is onboard to for his stock options. I would be very surprised if he was doing anything more than collecting them."  Sorry, but I don't read that as being very complimentary to the man. 

But enough of this. We have beaten this dead horse enough.  Time to move on.

[papaflamingo]

9 hours ago, pappy1022 said:

Some folks just got to argue for argues sake and don’t respect the thoughts and opinions of others. 

I'm assuming this is pointed directly at me.  But in all honesty, you should look in the mirror.  You tend to completely ignore the fact that others may also share opinions, and you have shown your fair share of disrespect.  You should at least try to practice what you preach. 

[wristband]

Personally, I was sad to see Jason's migration away from an active oversight role.  He has a long and enviable history in the cruise industry and at Regent.  His experience and interaction wth crew, guests and the press is admirable.

 

The point about billions in debt and how that will impact Regent's cost control strategy and operational execution is one guests might be mindful of.