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story category FairPoint CEO's Base Pay Jumps 30%
While company's support systems remain inadequate...
(old news - 08:43AM Tuesday May 05 2009)
tags: dsl · business · trouble · Fairpoint Communications
Tipped by mattmill See Profile
According to the Portland Press Herald, Fairpoint CEO Eugene Johnson saw a 30% increase in base salary, while six other top managers saw raises averaging 23%. Of course normally this could be considered a nice reward for a job well done, but thus far the carrier has botched the acquisition of Verizon's New England network, and consultants hired to monitor the integration say executives repeatedly understated the degree of dysfunction. The company recently suspended quarterly dividend payments to investors and lacks the support systems to handle a massive backlog of new service and repair orders. Some Fairpoint customers haven't had e-mail service since January.

Related:
  1. Fairpoint Hints At Possible Bankruptcy
  2. Fairpoint: Things Returning To Normal
  3. Vermont Prepares For Fairpoint Bankruptcy
  4. Fairpoint Doesn't Want To Pay Fines, Either
  5. Vermont May Boot Fairpoint From State
  6. Fairpoint Accused Of Faking Network Readiness Test
  7. Windstream Buying Up Fairpoint Debt?
  8. Unions Blame Verizon For Fairpoint Disaster
Forums » FairPoint CEO's Base Pay Jumps 30%
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ropeguru
Premium
join:2001-01-25
Bridgeport, WV
clubs:
·VOIPo

And this is a surprise??

Given the greediness of most all executives these days, even when the company is going to crap, this should surprise no one.

I still say Verizon did this knowing that Fairpoint would die then Verizon can step back in and take everything back for pretty much nothing.
Dolgan
Premium
join:2005-10-01
Sun Prairie, WI

Re: And this is a surprise??

You're a fool to believe that Verizon even remotely wants the territory back. Another small ILEC [ie Century Tel/Frontier] would be the most likely canidate to pick up Fairpoint if it fails.

SteveCon
IBEW 2222 Boston, MA
Premium
join:2004-09-02
Burlington, MA
·Verizon FIOS

Like the previous poster stated: Verizon wants no part of this territory. It is far too expensive to deploy new fiber technology or even maintain the existing copper plant in such a sparsely populated area. I bet Verizon would unload western and possibly central MA if it could.

ptrowski
Got Helix?
Premium
join:2005-03-14
Putnam, CT
clubs:
·VOIPo
·Metrocast Communic..
·AT&T DSL Service
·ViaTalk

Re: And this is a surprise??

said by SteveCon See Profile :

Like the previous poster stated: Verizon wants no part of this territory. It is far too expensive to deploy new fiber technology or even maintain the existing copper plant in such a sparsely populated area. I bet Verizon would unload western and possibly central MA if it could.
Not sure about central Mass. I have quite a few friends that are moving to the Shirley area because it is somewhat "affordable". I would imagine that will be built up next with some substantial developments.
--
"So, Lone Starr, now you see that evil will always triumph because good is dumb."

Have you been touched by his noodly appendage? »www.venganza.org
bac522

join:2003-08-04
Manchester, NH

WRONG!!!! Verizon actually didn't want to give up southern NH, but Fairpoint said no deal with out southern NH being part of the sale.

I love you people who don't know squat, don't sit in executive meetings, probably don't even own stock yet seem to know though some mysterious osmosis that you know what Verizon does and doesn't want.

EVRC Tech

@verizon.net

Re: And this is a surprise??

Verizon is not going to pick up the entire territory just to get southern NH. May not sit in on executive meetings, but did work at Verizon long enough to know the executive take on regions with poor RoI--stop investing in it and sell it off.

@ bac522-- You can hold onto your pipe dream of Verizon reacquiring the territory, but it is not going to happen.

pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD

Ugh

I smell more bailouts.

hayabusa3303
Over 200 mph
Premium
join:2005-06-29
clubs:

better idea

Quit giving Ceo pay increases and just tell them THEY get to keep there job other year.

n2jtx

join:2001-01-13
Glen Head, NY
·Optimum Online

Re: better idea

said by hayabusa3303 See Profile :

Quit giving Ceo pay increases and just tell them THEY get to keep there job other year.
Better yet, don't give them a pay raise and tell them to hit the road. Then replace them with someone competent.
--
I support the right to keep and arm bears.

pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
·Comcast

Re: better idea

said by n2jtx See Profile :

Better yet, don't give them a pay raise and tell them to hit the road. Then replace them with someone competent.
Blame the shareholders who allow for this type of thing to occur.
--
Blagojevich / Madoff 2012!
patcat88

join:2002-04-05
Jamaica, NY

Re: better idea

said by pnh102 See Profile :

said by n2jtx See Profile :

Better yet, don't give them a pay raise and tell them to hit the road. Then replace them with someone competent.
Blame the shareholders who allow for this type of thing to occur.
Yep, its the old boys club. Even if you own stock, your vote is meaningless »finance.yahoo.com/q/mh?s=FRP, and any single person investors always proxy their vote away anyways.

GOLFnSUN
Enjoy the sun
Premium
join:2002-03-03
Avalon, NJ
·Sprint Mobile Broa..
·Comcast

Re: better idea

said by patcat88 See Profile :

Even if you own stock, your vote is meaningless »finance.yahoo.com/q/mh?s=FRP, and any single person investors always proxy their vote away anyways.
I don't. I always vote for what I think is best for me. But I admit I am in the minority.
--
My BLOG .. .. Internet News .. .. My Web Page
Ammler
Premium
join:2005-04-19
Pittsburgh, PA

Re: better idea

But shouldn't you be voting what is good for the company as a whole vs what is good for you? Again, isn't this still part of the problem?

In this case, I would think that instead of increasing the CEO's compensation, diverting those funds into badly needed operational improvements is the ideal solution here.
me1212

join:2008-11-20
Pleasant Hill, MO
·VOIPo

said by n2jtx See Profile :

said by hayabusa3303 See Profile :

Quit giving Ceo pay increases and just tell them THEY get to keep there job other year.
Better yet, don't give them a pay raise and tell them to hit the road. Then replace them with someone competent.
^This
Kearnstd
Elf Wizard
Premium
join:2002-01-22
Mullica Hill, NJ

with the current economy you could likely hire execs who are better at their jobs and willing to work for less.

which the investors would like as it means more money not going into over inflated salaries.
--
[65 Arcanist]Filan(High Elf) Zone: Broadband Reports

Not a CEO

@suddenlink.net

Not Surprised

Its nice to be at the top. It seems this is the place to be in any company. Do nothing, bankrupt your organization, and get paid millions!

DataRiker
Premium
join:2002-05-19
Metairie, LA
clubs:

wrong

This screams everything that is wrong with America

trustee

@comcast.net

reward for great first 1/4

reward for great first quarter - listen to upcoming announcement

trustee

@comcast.net
reward for great first 1/4
GenBlood

join:2005-04-14
Nashua, NH

This is why the US is becoming a third world
country .... just like Africa ... Only a few
rich people an the rest poor ..

FairPoint losses millions and they give the people
in charge " BONUSES and big salaries "

Time
Premium
join:2003-07-05
·Dish Network
·Cox HSI
·Embarq

Re: This is TOTALLY .. MESSED UP !!!

said by GenBlood See Profile :

This is why the US is becoming a third world
country .... just like Africa ... Only a few
rich people an the rest poor ..

FairPoint losses millions and they give the people
in charge " BONUSES and big salaries "
Typically, individuals in third world countries don't have solid homes and a vehicle parked outside. What you consider to be "poor", is what an individual in a third world country would consider to be wealthy.
Sammer

join:2005-12-22
Canonsburg, PA

Re: This is TOTALLY .. MESSED UP !!!

said by Time See Profile :

Typically, individuals in third world countries don't have solid homes and a vehicle parked outside. What you consider to be "poor", is what an individual in a third world country would consider to be wealthy.
Maybe you haven't noticed but an increasing number of Americans can no longer afford those solid homes or new cars.

vv1r3d

@centurytel.net

In response to the Air Force guy..... THIS IS 3rd WORLD... to what we used to be, think about what America has done, and what we have lost. My family has been here for over 200 years, and lived in Missouri for over 175 of them. America was once thriving, with ideas everywhere... now our goverment is scared of the "new" and "now" and paranoid that the people might want a change. America has invented: The light bulb, Automobile as we know it today, Computer, Internet, Cotton Gin, Peanut Butter, you name it... we even invented Fortune Cookies (look it up). That is where it ends, we then let someone else improve it because once someone makes money they get lazy.

I could go on all day, but I think I will let someone else have some of this page.

cableties
Premium
join:2005-01-27
·Verizon FIOS

Lemme see:

-Bailed out Banks bolster bullish exec with bullion parachutes
-Taxes telephoney tricks taxpayers to try FAILPOINT takeover and has titillations that Failpoint execs pre-boost total take prior to Chapter 11.

And many other ridiculous rewards for failure and penalties for being honest.

I had too much latte.
--
Weeeeeeee!

TeleSup

@myfairpoint.net

This year no Mangement employee recieved a pay raise under Fairpoint. They were told it was due to the economy and needed to keep the business afloat. Bonuses were also cut in half. Now that CEO gets a 30% raise! What a way to kill the moral for management.

UnFairPoint

@fairpoint.com

Re: Raise and Pay.

How about this... low level management not only didn't get a pay increase they have been mandated to work 6 days a week 12 hours a day without any Overtime pay or Comp Time!!! Termination would be a reward.

dump_it_all

@gtcom.net

F#$% you un-Fairpoint.....

My service has fallen lower levels than free dial-up and I am paying for the top of the line DSL package....

I AM P-ed OFF..... Time to SUE for REFUNDS...

I can take a day or so of problems once every few years as it has been in the past, but this last couple months has been a continual down hill ride to nothing...

A 7 DVD Seminar Set, FREE, intentionally NOT copyrighted by the author with him stating to copy and freely pass around, took me several weeks to download. For the DSL speeds I am paying for I could have downloaded it last September in 2 days time tops. I thought my service was being CHOKED OFF like Comcast, but have just recently noticed we have a DIFFERENT OWNER it seems. On all our speed tests we get the label of GTCOM.NET, and no longer have FAIRPOINT.NET on the results, so I suspect we've been dumped in a silent bankruptcy to a gutter based company who seems to be dissolving our services or DILUTING our services into other companies customer base like AOL does by stealing some of your computer resources to run their proxy internet service system.....

This May 5th of 09 article is the last piece of news I see on them, and since then I'm getting this GTCOM.NET stuff.....

Whats up??????

I can easily dump my access and say to hell with all of them, I'm NOT going to pay some jerks payhikes, or payjacking wages..... I would also rather spend my life in a REAL WORLD instead of trying to force a page to load or access SLOW EMAIL ...

Just to hell with it all, Im tired of spending a big part of my free time EVERY DAY deleting SPAM and to block ADVERTISEMENTS.... THOSE ADVERTISERS DONT PAY FOR MY ACCESS SO GETTHEFUCKOFF MY NET ACCESS...... F-U-FLASH cant read a web page any more without a million flash ads so FUCKITALL....

viggen

@comcast.net

Re: 30% payhikes ... not on my bill

dude just get comcast
Forums » FairPoint CEO's Base Pay Jumps 30%


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