The Semi-Official pursuade WSB to move...,
Joined: May 2001
Posts: 93,305
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From: Nowhere
Originally Posted by LESISMOR,Jul 21 2006, 09:36 AM
what happened babes?Our fiscal year ends Oct 31 (2005 in this case). SEC rules requires end of year financials be posted by January 15 (2 1/2 months after EoY). We didn't post. We also didn't post Q1 (January 31), Q2 (April 30), and won't be posting Q3 (July 31). The company has said they'll state/restate all earnings back to 2004 as of EoY 2006 (January 15, 2007 in other words).
Well, our profit sharing, meager as it is, is based off those financials, as is the executives' and managers' profit sharing/bonuses. So we never got profit sharing in January despite a massively profitable year - likely the 2nd or 3rd most profitable year in the last 25 years.
Well, today... we find out that all non-rep (managers and executives) are being paid an Achievement Bonus in lieu of their annual profit sharing/bonus. Rep'd employees (designers, engineers, manufacturing, maintenence, technicians, etc) won't be getting anything this year, again, despite near record profit levels.
International Truck & Engine
bastards...now I understand why you're pi$$ed.
Joined: Jun 2001
Posts: 88,444
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From: Pt. A to Pt. B via VTEC!!
Originally Posted by WestSideBilly,Jul 21 2006, 10:02 AM
This goes back to October of last year.
Our fiscal year ends Oct 31 (2005 in this case). SEC rules requires end of year financials be posted by January 15 (2 1/2 months after EoY). We didn't post. We also didn't post Q1 (January 31), Q2 (April 30), and won't be posting Q3 (July 31). The company has said they'll state/restate all earnings back to 2004 as of EoY 2006 (January 15, 2007 in other words).
Well, our profit sharing, meager as it is, is based off those financials, as is the executives' and managers' profit sharing/bonuses. So we never got profit sharing in January despite a massively profitable year - likely the 2nd or 3rd most profitable year in the last 25 years.
Well, today... we find out that all non-rep (managers and executives) are being paid an Achievement Bonus in lieu of their annual profit sharing/bonus. Rep'd employees (designers, engineers, manufacturing, maintenence, technicians, etc) won't be getting anything this year, again, despite near record profit levels.
International Truck & Engine
Our fiscal year ends Oct 31 (2005 in this case). SEC rules requires end of year financials be posted by January 15 (2 1/2 months after EoY). We didn't post. We also didn't post Q1 (January 31), Q2 (April 30), and won't be posting Q3 (July 31). The company has said they'll state/restate all earnings back to 2004 as of EoY 2006 (January 15, 2007 in other words).
Well, our profit sharing, meager as it is, is based off those financials, as is the executives' and managers' profit sharing/bonuses. So we never got profit sharing in January despite a massively profitable year - likely the 2nd or 3rd most profitable year in the last 25 years.
Well, today... we find out that all non-rep (managers and executives) are being paid an Achievement Bonus in lieu of their annual profit sharing/bonus. Rep'd employees (designers, engineers, manufacturing, maintenence, technicians, etc) won't be getting anything this year, again, despite near record profit levels.
International Truck & Engine
Start your own trucking firm! 
