"Will Finchem, co-chief operating officers Charlie Zink and Ed Moorhouse and executive vice presidents David Pillsbury, Tom Wade and Ron Price take a cut in pay?"
One lingering question from the Tiger saga involves media coverage and whether having been caught off guard by Tiger's private life would lead to tougher golf media coverage. I don't know about you, but I'd say this Alex Miceli Golfweek.com piece looks like the first sign of a more, uh, discerning golf media.
He starts off in your basic recap of Tim Finchem's panned teleconference by noting some particulars in the 2010 schedule and then the hatchet comes out.
The commissioner also neglected to mention recent jobs losses at the Tour.
The changes included layoffs in multiple departments, notably Championship Management, Shotlink and Golf Course Development and Construction.
A tournament director was let go, and at least six Shotlink employees were eliminated.
The Shotlink crew got the news immediately after completing its last tournament of the year, a source told Golfweek.
According to a Tour official, three of the Shotlink crew were made redundant. The other three positions were being outsourced and may be hired by the contractor. The same official said these and the other personal moves were not layoffs.
Miceli goes on to detail how the 401k program has been frozen for all staff and then asks the obvious question that's been burning since Jon Show revealed 2008 PGA Tour executive salaries and scheduled future bonuses. You're cutting the Shotlink folks taking home chicken feed, so are the executives doing their part?
One question that wasn’t addressed: Will Finchem, co-chief operating officers Charlie Zink and Ed Moorhouse and executive vice presidents David Pillsbury, Tom Wade and Ron Price take a cut in pay? Each made more than $1 million in compensation in 2008, according to Tour financial filings.
And to remember, as Show wrote:
In the 2008 filing, the tour also outlines a long-term incentive bonus plan payable to high-ranking employees in 2009 and 2010 unless the individual terminates his or her employment. Finchem’s bonus is scheduled to be nearly $1.9 million in 2009 and 2010, followed by Zink and Moorhouse at $534,127 each.
I know, I know, those bonuses will be hard earned no matter the job performance and these men have second and third homes in need of twin Sub-Z's. But those bonuses sure could pay for a lot of jobs that appear headed for outsourcing.
I put the question out once and will try again, someone please explain to me the point of a performance bonus that is pre-determined and scheduled?