sandpit
06-20-2008, 09:57 AM
Here are a few tidbits (in blue) from the annual CDI shareholders meeting.
Arlington Park owner and company director Richard L. Duchossois, 86, whose family businesses and trusts accounts for about 24% of all CDI stock, said in a post-meeting interview he approved of the way the company is being run by Evans, who assumed his roles in August 2006.
“Bob has put together one of the strongest teams in the industry,” said Duchossois, who is also a CDI director. “Racing is our core business. Now Bob is bringing (CDI’s) technology coverage to a higher leverage. We are trying to catch up, but also trying to get ahead.”
All I can say is that this senile bastard is completely clueless when it comes to Evans.
* Shareholders approved performance bonuses for Churchill executives, including $675,000 for Evans, $384,000 for Chief Development Officer Bill Carstanjen, $348,000 for Chief Financial Officer William Mudd, $360,000 for Executive Vice President of Technology Initiatives Vernon Niven, and $360,000 for Churchill Downs Racetrack President Steve Sexton.
This defies explanation. All of these bonuses are at least 100% of their annual salaries. I can guarantee you that the rank and file employees didn't receive anything close to this kind of percentage. Everybody that works there should demand similar bonuses or walk off the job. If CDI didn't have the built-in cash cow of the Oaks/Derby, they would be out of business.
On Aug. 18, approximately when Evans took over from Tom Meeker, CHDN closed at $39.82. Fast forward five years to yesterday's closeof $40.79. There was a big spike for a while, but the Evans "honeymoon" is over. Does this growth warrant this level of bonus?
Arlington Park owner and company director Richard L. Duchossois, 86, whose family businesses and trusts accounts for about 24% of all CDI stock, said in a post-meeting interview he approved of the way the company is being run by Evans, who assumed his roles in August 2006.
“Bob has put together one of the strongest teams in the industry,” said Duchossois, who is also a CDI director. “Racing is our core business. Now Bob is bringing (CDI’s) technology coverage to a higher leverage. We are trying to catch up, but also trying to get ahead.”
All I can say is that this senile bastard is completely clueless when it comes to Evans.
* Shareholders approved performance bonuses for Churchill executives, including $675,000 for Evans, $384,000 for Chief Development Officer Bill Carstanjen, $348,000 for Chief Financial Officer William Mudd, $360,000 for Executive Vice President of Technology Initiatives Vernon Niven, and $360,000 for Churchill Downs Racetrack President Steve Sexton.
This defies explanation. All of these bonuses are at least 100% of their annual salaries. I can guarantee you that the rank and file employees didn't receive anything close to this kind of percentage. Everybody that works there should demand similar bonuses or walk off the job. If CDI didn't have the built-in cash cow of the Oaks/Derby, they would be out of business.
On Aug. 18, approximately when Evans took over from Tom Meeker, CHDN closed at $39.82. Fast forward five years to yesterday's closeof $40.79. There was a big spike for a while, but the Evans "honeymoon" is over. Does this growth warrant this level of bonus?