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Re: I guess you can call it Karma: After all these years of the Walton family supporting conservative politicians, they're getting the America they paid for and it turns out to be bad for business... 

By: oldCADuser in FFFT | Recommend this post (2)
Thu, 05 Jun 14 1:43 AM | 53 view(s)
Boardmark this board | Food For Further Thought 		Msg. 64336 of 65535
(This msg. is a reply to 64118 by oldCADuser)
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Not only has Walmart, by cooking it's books, been assuring that their executives that they would continue to get their FULL performance-based compensation (i.e. bonuses) each year, despite the company's continuing disappointing performance, but that this will also allow them to take an EXTRA $100+ MILLION TAX CREDIT simply because they PAID THOSE CRIMINALLY INFLATED BONUSES. If Walmart had been paying the actual bonuses based on the compensation agreements in place, using the REAL financial numbers, not only would the executive have not gotten something like an extra $290 million in bonuses, the company also could NOT have gotten the special TAX CREDIT that was based on how much of the executive compensation was tied to the IMPROVED performance of the company. So this special TAX CREDIT was intended as an incentive to companies to actually increase financial performance thus helping the American economy, or at least that was the intention. However, in Walmart's case, they simply juggled the numbers around so that they could tell THEMSELVES that they did better than they really had so that they could get their 'performance' bonuses, and then they had the gall to turn around and demand that the tax-payers of American give them back $100+ million because they had improved their financial performance, or at least they had if you were looking ONLY at the figures that they USED INTERNALLY to compute executive compensation and NOT what they had to LEGALLY report to the SEC and their shareholders.

And yet the Right continues to accuse the working poor in this country, and their families, of free-loading off the federal dole.

http://www.huffingtonpost.com/2014/06/04/walmart-executive-pay-tax-loophole_n_5446074.html




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Re: I guess you can call it Karma: After all these years of the Walton family supporting conservative politicians, they're getting the America they paid for and it turns out to be bad for business...
By: oldCADuser in FFFT
Fri, 30 May 14 1:06 AM 		Msg. 64118 of 65535

Apparently the BOD and executives at Walmart have found a way to insulate themselves from the consequences of the Walton family dumping millions into the campaigns of conservative candidates who have, among other things, cut food-stamps to the people who tend to shop at Walmart. It seems that since this cut into the company's bottom line, which was not good for the shareholders, nor the customers and even the Walmart 'associates' who were depending on food-stamps and which they used at Walmart stores, this was going to reduce the performance bonuses paid to Walmart executives. Well we couldn't have this now could we, so they simply 'cooked the books', reporting, for executive pay considerations purposes, an ESTIMATE of what the revenues and profits WOULD HAVE BEEN if Republican in Congress had NOT cut the SNAP program, allowing them to get their bonuses as if nothing happened. Of course, the stockholders are getting screwed as well as the 'associates' and of course their customers, as a result of the Walton's political views, but the people at the top are still going to get theirs. A sweet deal if there ever was one:

http://www.huffingtonpost.com/2014/05/29/walmart-executive-pay_n_5405863.html

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