Executives earnings

Tuesday, July 30, 2002 10:55 AM

While watching the screen savers today, I saw a link to a site that tells you how much executives earn each year who own any publicaly traded company. That gave me an idea to see how much the executives at Cedar Fair and Six Flags make each year. The following two links show the results. I figured that these guys would make a good amount of money, but not the million and a half dollars that they do. Makes me want to own a park more and more.

http://www.ecomponline.com/company.tcl?dir=Demo&symbol=PKS&x=29&y=7

http://www.ecomponline.com/company.tcl?dir=Demo&symbol=FUN&x=25&y=10

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Tuesday, July 30, 2002 10:59 AM

One company pays lean to executives that are real lifetime amusement park people, the other pays huge amounts to lawyers and financial guys. Interesting! Draw your own conclusions from that.

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Jeff - Webmaster/Admin - CoasterBuzz.com, Sillynonsense.com
"Let's stop saying 'don't quote me,' because if no one quotes you, you probably haven't said a thing worth saying." - Dogma, KMFDM

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Tuesday, July 30, 2002 9:37 PM

One company also deals with a lot more parks! Draw your own conclusions from that.

(And since when is Gary Story not a "real lifetime amusement park person?)

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Wednesday, July 31, 2002 4:29 AM

In both cases, the executives have grown their business. In my personal opinion, one exec did it with a great deal of foresight and responsibility. That, to me, signifies someone who cares about the amusement park business.

In the other case I think the executive did it with a great deal of bravado and disrespect. That, to me, signifies someone who cares about business.

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Wednesday, July 31, 2002 4:54 AM

Story isn't the top dog... people often forget that. He's #2. He's a career park guy, yes, but he's surrounded by lawyers and bankers.

The smaller company is a fraction of the size and has a market cap nearing the bigger one and pays me four times a year for investing. My conclusions have long since been drawn about that...

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Jeff - Webmaster/Admin - CoasterBuzz.com, Sillynonsense.com
"Let's stop saying 'don't quote me,' because if no one quotes you, you probably haven't said a thing worth saying." - Dogma, KMFDM

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Wednesday, July 31, 2002 8:57 AM
Those CP earnings seem a little low... there was a time when several of those people listed were making 1 million plus.

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Jes
Jes's Roller Coasters DJ Jes MCS Please, Feel Free To Call Me Jes!
Six Flags Worlds Of Adventure 2002 Ride-Ops Crew (Have Fun Trying To Find Me!)

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Wednesday, July 31, 2002 10:18 AM
And what times were those and what documentation are you referring to?

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Jeff - Webmaster/Admin - CoasterBuzz.com, Sillynonsense.com
"Let's stop saying 'don't quote me,' because if no one quotes you, you probably haven't said a thing worth saying." - Dogma, KMFDM

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Wednesday, July 31, 2002 10:59 AM

Maybe I should restate what I said... Those earnings seem just about right, however, they have been higher. I can't seem to find the page that listed those higher earnings, but the internet doesn't tell you everything... actual human people fill that void.

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Jes (Who is well aware of his redundancy problems...)
Jes's Roller Coasters DJ Jes MCS Please, Feel Free To Call Me Jes!
Six Flags Worlds Of Adventure 2002 Ride-Ops Crew (Have Fun Trying To Find Me!)

*** This post was edited by Zero-G on 7/31/2002. ***

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Wednesday, July 31, 2002 11:03 AM
Human people? What other kind are there? ;)
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Wednesday, July 31, 2002 11:13 AM
As someone who worked at CP full time I can tell you those salaries look plenty high to me. Not that they aren't deserved but for the amount of work that the full time (non-executive) workforce at Cedar Fair puts in, and for their loyalty to the company, they are grossly underpaid.
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Wednesday, July 31, 2002 11:55 AM

Very true... but if you hang in there and are a lifer, the payoff sure is nice. Every last one of the full-timers I've met worked their way to their positions from the inside. There's a point just short of VP (or so I'm told) that you really start to do well in that company.

That's probably why I could never do it... I want six figures now. :)

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Jeff - Webmaster/Admin - CoasterBuzz.com, Sillynonsense.com
"Let's stop saying 'don't quote me,' because if no one quotes you, you probably haven't said a thing worth saying." - Dogma, KMFDM

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Wednesday, July 31, 2002 12:03 PM
The people at SF are making way too much money. The people at CF are making too much money, and it is *very* close to being outrageous. Kinzel's salary needs to be reduced by half at least -- that is just too much money to be paying an exec! They should all sit down with Warren Buffet and learn a lesson. -Allan

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Magnum Allan - FLCC member. My website: http://dropzone224.tripod.com

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Wednesday, July 31, 2002 12:10 PM
That really isn't a lot of money for the trouble that they probably have to go through. I would have expected the salary to be much higher, but with bonuses, it is a pretty nice amount of money.
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Wednesday, July 31, 2002 12:34 PM

Kinzel is overpaid? You do realize he runs a billion dollar, publicly traded company, right? Get over it... he has earned every cent. The company has done fabulous things on his watch.

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Jeff - Webmaster/Admin - CoasterBuzz.com, Sillynonsense.com
"Let's stop saying 'don't quote me,' because if no one quotes you, you probably haven't said a thing worth saying." - Dogma, KMFDM

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Wednesday, July 31, 2002 12:39 PM

Jeff, you make a good point about "hanging in there" but that is a looooonnnnngggg time to be working on medicocre salaries. If you make it, ala Falfas, Albino, Spehn, etc then sure....it is worth it in the end. But boy, those low and mid-level employees sure deserve better, imo.

MagnumAllan, do you have a problem with performance-based pay? B/C that is what this is. Their salaries are 500K-800K and their bonuses push them up over $1,000,000. A-Rod is going to get his half-billion salary over the next several years whether he hits .350 or .150.

*** This post was edited by wahoo skipper on 7/31/2002. ***

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Wednesday, July 31, 2002 2:31 PM
The problem I have is not with their salaries but with their bonuses. Their salaries are more than enough to live well on and they are paying themselves extraordinary bonuses. They have done a good job with CF and I enjoy having a steady stock and collecting my big dividend, but I don't like to see bonuses worth hundreds of thousands when I am investing in the company.

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Magnum Allan - FLCC member. My website: http://dropzone224.tripod.com

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Wednesday, July 31, 2002 2:33 PM
Those quotes don't suprise me at all.
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Wednesday, July 31, 2002 2:34 PM

That's the way that executives work. Some execs at some companies get $1 in actual salary, and the rest is all bonus. That makes good sense, because if they don't meet the goals set by their boards, they don't get paid. It provides a lot more incentive to do the job right.

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Jeff - Webmaster/Admin - CoasterBuzz.com, Sillynonsense.com
"As far as I can tell it doesn't matter who you are. If you can believe, there's something worth fighting for..." - Garbage, "Parade"

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Wednesday, July 31, 2002 2:38 PM
Well, you are generally correct and while I still think they are slightly overpaid, I can agree. However, that is not always how it works. See Enron, WorldCom, Adelphia, and many others to come.

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Magnum Allan - FLCC member. My website: http://dropzone224.tripod.com

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Wednesday, July 31, 2002 4:45 PM

Yeah, instead of earning their money, they steal it.

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Jeff - Webmaster/Admin - CoasterBuzz.com, Sillynonsense.com
"Let's stop saying 'don't quote me,' because if no one quotes you, you probably haven't said a thing worth saying." - Dogma, KMFDM

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