Tsunami Posted July 14, 2011 Share Posted July 14, 2011 The report I read said that for some staff the bonus (30k) is 2 years wages. So on that basis, yes they are. Link to post Share on other sites More sharing options...
wormy Posted July 14, 2011 Share Posted July 14, 2011 They'd go bust if the lower rung were even getting £30k. Imagine what the bigwigs would be getting. Link to post Share on other sites More sharing options...
Guest johnson293 Posted July 14, 2011 Share Posted July 14, 2011 The pay-out, to those getting it, is paid as shares in SD too. Link to post Share on other sites More sharing options...
Ryan_Taylor Posted July 14, 2011 Share Posted July 14, 2011 They'd go bust if the lower rung were even getting £30k. Imagine what the bigwigs would be getting. Hang about. Are people actually saying the bottom rung of Uncle Mike's house of crap's staff are getting a £30k pay out? Link to post Share on other sites More sharing options...
Guest Posted July 14, 2011 Share Posted July 14, 2011 Can't believe the fat cunt's taking money out the company, never shopping there again. Link to post Share on other sites More sharing options...
timeEd32 Posted July 14, 2011 Share Posted July 14, 2011 No, SD shares. Sounds like it's everyone. Would Sports Direct really have 2,000 employees without counting store workers? Link to post Share on other sites More sharing options...
Guest johnson293 Posted July 14, 2011 Share Posted July 14, 2011 No, SD shares. Sounds like it's everyone. Would Sports Direct really have 2,000 employees without counting store workers? Eh, seriously? They have 'over 470 stores' according to their website. Even if each one of those only had 5 floor monkeys, thats 2350 people, and there are far more shop assistants than that in most stores, before any management. Then theres head office(s) staff, warehousing, etc. I'd take a calculated guses at a hell of a lot more uk staff than 2000! EDIT: From their annual report... Employees In no small measure, the progress we continue to make is down to the dedication and expertise of over 17,000 staff throughout the business. I am delighted to take this opportunity to thank everyone in the team for their outstanding contribution and I look forward to working with them towards our further growth and success. Link to post Share on other sites More sharing options...
Colocho Posted July 14, 2011 Share Posted July 14, 2011 Can't believe the fat cunt's taking money out the company, never shopping there again. Link to post Share on other sites More sharing options...
Guest Posted July 14, 2011 Share Posted July 14, 2011 That money could have been spent on improving the quality of clothing. I'm almost shaking with rage. Link to post Share on other sites More sharing options...
GM Posted July 15, 2011 Share Posted July 15, 2011 Ashley - from zero to hero as profits surge at Sports Direct http://editorial.jpress.co.uk/web/Upload/TS//TH1_147201129mike-ashley.jpg Newcastle United owner Mike Ashley has helped turn round Sports Direct. Picture: PA Published Date: 15 July 2011 By Nathalie Thomas Chief Business Correspondent MIKE Ashley yesterday confirmed his transformation from City villain to hero as his Sports Direct chain unveiled a 25 per cent surge in annual underlying profits - and rewarded staff with a bumper pay-out. The firm - which floated in 2007 and had a disastrous first year as a listed company - exceeded its own targets of £195 million to hit underlying profits of £200.4m in the year to 24 April, triggering a share pay-out worth an average of more than £40,000 for its 2,000 staff members. Revenues across the group - which owns more than 350 stores in the UK alone plus a number of brands including Kangol and Dunlop - jumped more than 10 per cent to almost £1.6 billion as Sports Direct benefited from the decline of rival JJB Sports. It was the second year in a row that the firm, which entices shoppers through its doors with heavily discounted sports goods, hit profits targets, which means that staff, who earn an average of £20,000, will share in an £87.7m pot for the two most recent financial years combined. The combined pay-out, which is believed to be the biggest of its kind in the retail sector, will see each member of staff receive shares worth an average of £43,860 at today's prices. However, the shares cannot be traded in for at least another year, meaning they could be worth more if the stock, which has climbed 130 per cent over the past 12 months, continues to rise. Analysts said the problems at rival JJB had undoubtedly contributed to Sports Direct's success in what continues to be extremely challenging retail conditions. But Ashley, who was once a target for criticism in the City for his brash ways and Sports Direct's poor communication in the months following its flotation, was also credited for his shrewd tactics. Nick Bubb of Arden Partners said: "It's a combination of the weakness of JJB and the focus of management in getting back to basics and the staff incentives." Dave Forsey, Sports Direct's chief executive, said: "Key to this growth has been the success of our employee bonus share scheme, which we introduced to focus the whole group on our ambitious growth targets. The strength of our business model means that we are very well positioned for the challenges and targets for the future." With JJB still battling for survival, Ashley is now believed to be going after rival JD Sports, which has positioned itself at the more upmarket end of sports fashion retailing. Some analysts saw the Newcastle United owner's decision last week to buy a majority stake in Sir Tom Hunter's USC and Cruise clothing businesses for £7m as the first step in his quest to bring down JD Sports. Seymour Pierce analyst Freddie George said of the results: "These figures are at the top of expectations and are excellent considering the economic backdrop." There was no final dividend. http://thescotsman.scotsman.com/business/Ashley--from-zero-to.6801690.jp?articlepage=2 Terry Murden: Ashley proves the doomsters of the City wrong again Published Date: 15 July 2011 By Terry Murden WHEN Mike Ashley first announced he was taking his Sports World and Sports Soccer chains to the stock market he was a reluctant public figure who refused to play by the rules. The City didn't take kindly to a man who, within the space of a few months, was accused of damaging his company's credibility. Sports Direct's flotation price had halved and Ashley was forced to issue a second profits warning. No wonder the knives were out. A defiant Ashley accused "City people" of "behaving like cry babies" and said he couldn't think of many safer long-term investments. Well, four years on from those comments the share price is not quite reflecting his sentiment, but it is heading in the right direction. After plunging to a low of 32p in November 2008 they're back above 250p, against a 300p flotation price. Sports Direct's latest set of figures (which include all the relevant numbers compared to the early statements) show it has hit its profit target for the second year in a row and is able to make a record pay-out to staff in the retail sector equal to twice the average salary of £20,000. What makes the Sports Direct performance all the more surprising is that it comes against a continuing back story of poor trading and under performance in the high street. Nor has Ashley rested on his laurels. After mopping up the bottom end of the market, he's been buying up stakes in Scots tycoon Sir Tom Hunter's USC and Cruise businesses, taking his business interests a little more upmarket. He's now got his sights on JD sports which has already got the better of the struggling JJB Sports. Ashley has endured a similarly erratic relationship with Newcastle United, which he owns. The long-suffering Toon Army, like Sports Direct's shareholders, will be hoping for a similar upturn in fortunes. http://business.scotsman.com/business/Terry-Murden-Ashley-proves-the.6801705.jp Sharing this just in case (OK, it's unlikely) anyone actually gives a shite. Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted July 15, 2011 Share Posted July 15, 2011 Wish I'd picked up some Sports Direct shares when they were 32p. Link to post Share on other sites More sharing options...
Guest TheSummerOf69 Posted July 15, 2011 Share Posted July 15, 2011 Ashley is shrewd at making money, but not so hot on giving a sh*t about anyone else. He floated the company at what I've read was an inflated rate, sold a load of shares at a high price, then bought a load back when they were at a low rate, and now he's doing well with the business again so their worth is rising. The BBC had a programme exposing his companies practices - shirts being made (complete with "70% off" labels) in the far east by exploited workers who have little rights. Ching ching! Even the reported bumper payday for his employees recently is because they have heavily incentivised pay packets which leads to a motivated workforce. That's not a bad idea when it comes to the Toon though - rewarding success but not failure. In the long run and with the Uefa fiancial restraints coming in we should be well set. ...but there's always the fear that a policy of selling your best players while handing out 5 year contracts to untried newcomers will only end up leaving us - eventually - with a team of failures (cheap though they may be). Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted July 15, 2011 Share Posted July 15, 2011 We don't have a policy of selling our best players FFS. Link to post Share on other sites More sharing options...
Guest TheSummerOf69 Posted July 15, 2011 Share Posted July 15, 2011 We don't have a policy of selling our best players FFS. Given Beye, Bassong, (Enrique) (Barton), Milner, Nolan, Duff, N'Zogbia Caroll, Martins That's a team right there. But, of course, they all "wanted to leave". And we let players go when they want to leave, regardless of how long is left on their contract. Fair enough Enrique has supposedly been offered a good contract to stay, but if he had more faith in us (if we'd pushed for Europe last season, instead of selling our top 2 scorers say) he might want to stay more. Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted July 15, 2011 Share Posted July 15, 2011 We don't have a policy of selling our best players FFS. Given Beye, Bassong, Enrique Milner, Nolan, Duff, N'Zogbia Carrol, Martins That's nearly a team right there. But, of course, they all "wanted to leave". And we let players go when they want to leave, regardless of how long is left on their contract. There are good explanations for all of those. A good number were because of relegation, I still think Milner was a great sale for the price, Duff was shit for us, and I wouldn't want the club to match what Nolan got at West Ham. Only Carroll out of that list is really gutting, but the deal was too good to turn down. Enrique's contract situation is such that we have to sell if he won't resign. Link to post Share on other sites More sharing options...
ponsaelius Posted July 15, 2011 Share Posted July 15, 2011 Damien Duff an example of selling a good player. Link to post Share on other sites More sharing options...
Guest TheSummerOf69 Posted July 15, 2011 Share Posted July 15, 2011 There are good explanations for all of those. A good number were because of relegation, I still think Milner was a great sale for the price, Duff was s*** for us, and I wouldn't want the club to match what Nolan got at West Ham. Only Carroll out of that list is really gutting, but the deal was too good to turn down. Enrique's contract situation is such that we have to sell if he won't resign. "Milner was a great sale for the price" - what, half what he went for later? (Plus 20m+ lost from relegation by 1 point). "I wouldn't want the club to match what Nolan got at West Ham." - he had 2 years left on his contract. Tell him to "knuckle down and we'll talk next year". "Duff was s*** for us" - he's no world beater, but we've a terrible habit of undervaluing Premier--class players (Parker, Zogs, Milner, Duff, Gutiérrez etc) if they're not tearing teams apart Gazza-style. Link to post Share on other sites More sharing options...
ponsaelius Posted July 15, 2011 Share Posted July 15, 2011 The fact we got a transfer fee for Damien Duff was a celebratory moment. Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted July 15, 2011 Share Posted July 15, 2011 I'm not going to derail the thread by discussing every sale of the last 10 years, every club sells players, it's a ridiculous argument. We also got relegated in that time, in case anybody has forgotten. Link to post Share on other sites More sharing options...
Guest TheSummerOf69 Posted July 15, 2011 Share Posted July 15, 2011 The fact we got a transfer fee for Damien Duff was a celebratory moment. Did you do the dance your avatar does? Link to post Share on other sites More sharing options...
Guest TheSummerOf69 Posted July 15, 2011 Share Posted July 15, 2011 I'm not going to derail the thread by discussing every sale of the last 10 years, every club sells players, it's a ridiculous argument. We also got relegated in that time, in case anybody has forgotten. Maybe if we had Milner and Given (proven solid performers) rather than Xisco (untested in Premier League, 5 year deal) and Nancho (1 million quid to have a holiday for a year in the Toon) we'd have got that extra point? Link to post Share on other sites More sharing options...
Guest Chubby Jason Posted July 15, 2011 Share Posted July 15, 2011 We don't have a policy of selling our best players FFS. No. Only when people make bids for them does that particular policy kick in. Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted July 15, 2011 Share Posted July 15, 2011 I'm not going to derail the thread by discussing every sale of the last 10 years, every club sells players, it's a ridiculous argument. We also got relegated in that time, in case anybody has forgotten. Maybe if we had Milner and Given rather than Xisco and Nancho we'd have got that extra point? Yes, or if Damien Duff hadn't put through his own net against Villa. Or if he and host of other players hadn't played like they were on tranquillisers for most of the season. Anyway, that's not the point, I was arguing that we don't have a "policy of selling our best players" which I maintain is a stupid thing to say. Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted July 15, 2011 Share Posted July 15, 2011 We don't have a policy of selling our best players FFS. No. Only when people make bids for them does that particular policy kick in. You're hilarious. Link to post Share on other sites More sharing options...
ToonTastic Posted July 15, 2011 Share Posted July 15, 2011 Mackems working in Sports Direct must be laughing their tits off. Acne infested f*** wits most of his shop floor staff are yet they can quite legitimately wave 30k and 2 fingers up at us and comment on what MA must think of his Nufc paying customers. Good luck to his staff; but he can f*** right off. The staff at the bottom of the pile will be lucky to get a £10 bonus. Only full time staff get bonuses and that's paid whether they pass their stock takes or not. Management will be the people picking up this bonus no regular staff will see it. Link to post Share on other sites More sharing options...
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