500 or bust?
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BP suggested we call and email. I did and Jim Hayes had left a voice mail that I recieved this morning and I called him back and spoke with him directly.
No, he didnt give me the details about retention. What he did say (we talked for about 20 minutes) was that retention had been approved and they are waiting to annouce the details until AFTER the dog and pony show going on in Congress right now.
We will get a firm wide email telling us when the conference call will take place. He indicated that the email will come down shortly after the testimony before congress.
I cant think of any other firm where the President of PCG would bother to take time to speak with a middle of the road producer. To me, that speaks volumes about the this firm. Many of you may not agree with that statement but I am and was impressed that he would bother to take time to speak to me.
BP suggested we call and email. I did and Jim Hayes had left a voice mail that I recieved this morning and I called him back and spoke with him directly.
No, he didnt give me the details about retention. What he did say (we talked for about 20 minutes) was that retention had been approved and they are waiting to annouce the details until AFTER the dog and pony show going on in Congress right now.
We will get a firm wide email telling us when the conference call will take place. He indicated that the email will come down shortly after the testimony before congress.
I cant think of any other firm where the President of PCG would bother to take time to speak with a middle of the road producer. To me, that speaks volumes about the this firm. Many of you may not agree with that statement but I am and was impressed that he would bother to take time to speak to me.
if it is true that you spoke with him I am very impressed. Very surprising that he would do that.
I have no reason to say he did if he did not. He didnt divulge any specifics about retention, what form it would take or any details other than to tell me point blank that it had be decided up, approved and that “shortly after testimony” we would get an email. I tried to pin him down on if the email would come this week or next and he wouldnt committ to telling me that.
JH has zero reason to call a middle of the road second quintile producer and say its coming if its not. Now, once they tell us what they are doing, we may not like the message but that is an entirely different story and I know nothing about the details.
BR did you ask him about WS teaming up with the UBS Wealth MGT Americas division?
I still believe that is a probable event. -WW PS. The way other firms are throwing renention and signing money around WS has to pay something. DL and Jim Hayes know that.RE: PS. The way other firms are throwing renention and signing money around WS has to pay something. DL and Jim Hayes know that.
In their minds they did. AGE got $, WS got deferred -- which looks now to become vested under this deal, so that to them is now all cash paid. Rest is on the come. If other firms are at 100% upfront for, say 1mm, then the grid bump will add to the same 100% over five years. The only real difference will be that others are payiing on T12, looking back. This deal looks to be on upcoming production -- which for a lot of people will be starting at much lower levels than the T12 you can sell away today.
Res. That isn't going to fly and they know that. That is why from DAY... 1 DL said there would be retetention.
You’re right – but definitions differ. This is non traditional retention. The sales pitch will be that the numbers spread over the five (assumed) years of the deal will add up to the same as traditional retention.
Let's say the first $10k of the month stays at 24% and the next 10k stays at 50%. That leaves the 250k producer out to dry, just like regular retention. But say the next 10k of the month goes from 50% to 55%. That gives about a 5-10% overall bump to the 350 producer, spread over the five years of the deal, just like regular retention. Then perhaps the next 20k goes to 60%. That gives the 500k producer about a 15-20% bump, and so on. A 2mm producer, topping out at, say, 70% payout on everything above 70k a month ends up with about a 35-40% per year pick-up, which adds up to about 200% over five years, just like regular retention. The only real difference is who gets use of the $ and when -- as well as that nagging problem about other firms not only paying it now but paying it on T12, which especially for stock jocks may be a very big difference in how it all goes down. Some guys are looking at half of what T12 is for the next 12. Management may need to fine tune their selling skills.all isg managers are in st louis for meetings until thursday and i just recieved a text from my manager and he said that retention and name change will be announced on conference call on friday! no numbers on retention just that there will be a call.
[quote=res ipsa loquitor]You’re right – but definitions differ. This is non traditional retention. The sales pitch will be that the numbers spread over the five (assumed) years of the deal will add up to the same as traditional retention.
Let's say the first $10k of the month stays at 24% and the next 10k stays at 50%. That leaves the 250k producer out to dry, just like regular retention. But say the next 10k of the month goes from 50% to 55%. That gives about a 5-10% overall bump to the 350 producer, spread over the five years of the deal, just like regular retention. Then perhaps the next 20k goes to 60%. That gives the 500k producer about a 15-20% bump, and so on. A 2mm producer, topping out at, say, 70% payout on everything above 70k a month ends up with about a 35-40% per year pick-up, which adds up to about 200% over five years, just like regular retention. The only real difference is who gets use of the $ and when -- as well as that nagging problem about other firms not only paying it now but paying it on T12, which especially for stock jocks may be a very big difference in how it all goes down. Some guys are looking at half of what T12 is for the next 12. Management may need to fine tune their selling skills.[/quote] I would be very suprised if that is what they are doing. JH told me that the delay in announcing was due to the congressional testimonies going on today. If all they were going to do was a grid bump and restricted stock, it would be easy to call it just that a grid bump due to unprecidented market conditions and they completely avoid the BONUS talk. I will be very suprised if it doesnt have a upfront cash component. Thats what guys and gals need right now. He and they know this and the stuff you are talking about is so far out of the box that delaying announcing makes no sense because it wouldn't/couldnt be viewed as a bonus because what you are talking about isnt a bonus.[quote=BukiRob][quote=res ipsa loquitor]You’re right – but definitions differ. This is non traditional retention. The sales pitch will be that the numbers spread over the five (assumed) years of the deal will add up to the same as traditional retention.
Let's say the first $10k of the month stays at 24% and the next 10k stays at 50%. That leaves the 250k producer out to dry, just like regular retention. But say the next 10k of the month goes from 50% to 55%. That gives about a 5-10% overall bump to the 350 producer, spread over the five years of the deal, just like regular retention. Then perhaps the next 20k goes to 60%. That gives the 500k producer about a 15-20% bump, and so on. A 2mm producer, topping out at, say, 70% payout on everything above 70k a month ends up with about a 35-40% per year pick-up, which adds up to about 200% over five years, just like regular retention. The only real difference is who gets use of the $ and when -- as well as that nagging problem about other firms not only paying it now but paying it on T12, which especially for stock jocks may be a very big difference in how it all goes down. Some guys are looking at half of what T12 is for the next 12. Management may need to fine tune their selling skills.[/quote] I would be very suprised if that is what they are doing. JH told me that the delay in announcing was due to the congressional testimonies going on today. If all they were going to do was a grid bump and restricted stock, it would be easy to call it just that a grid bump due to unprecidented market conditions and they completely avoid the BONUS talk. I will be very suprised if it doesnt have a upfront cash component. Thats what guys and gals need right now. He and they know this and the stuff you are talking about is so far out of the box that delaying announcing makes no sense because it wouldn't/couldnt be viewed as a bonus because what you are talking about isnt a bonus.[/quote][quote=BukiRob][quote=res ipsa loquitor]You’re right – but definitions differ. This is non traditional retention. The sales pitch will be that the numbers spread over the five (assumed) years of the deal will add up to the same as traditional retention.
Let's say the first $10k of the month stays at 24% and the next 10k stays at 50%. That leaves the 250k producer out to dry, just like regular retention. But say the next 10k of the month goes from 50% to 55%. That gives about a 5-10% overall bump to the 350 producer, spread over the five years of the deal, just like regular retention. Then perhaps the next 20k goes to 60%. That gives the 500k producer about a 15-20% bump, and so on. A 2mm producer, topping out at, say, 70% payout on everything above 70k a month ends up with about a 35-40% per year pick-up, which adds up to about 200% over five years, just like regular retention. The only real difference is who gets use of the $ and when -- as well as that nagging problem about other firms not only paying it now but paying it on T12, which especially for stock jocks may be a very big difference in how it all goes down. Some guys are looking at half of what T12 is for the next 12. Management may need to fine tune their selling skills.[/quote] I would be very suprised if that is what they are doing. JH told me that the delay in announcing was due to the congressional testimonies going on today. If all they were going to do was a grid bump and restricted stock, it would be easy to call it just that a grid bump due to unprecidented market conditions and they completely avoid the BONUS talk. I will be very suprised if it doesnt have a upfront cash component. Thats what guys and gals need right now. He and they know this and the stuff you are talking about is so far out of the box that delaying announcing makes no sense because it wouldn't/couldnt be viewed as a bonus because what you are talking about isnt a bonus.[/quote] There's a big difference between a bonus and a retention package. I don't like what I'm hearing either, just preparing myself -- in a number of ways. If I'm wrong, I'll blame Tad''s wife's caddy's girlfriend's BFF. Understand she's tight with DL's kid.[quote=BukiRob][quote=res ipsa loquitor]You’re right – but definitions differ. This is non traditional retention. The sales pitch will be that the numbers spread over the five (assumed) years of the deal will add up to the same as traditional retention.
Let's say the first $10k of the month stays at 24% and the next 10k stays at 50%. That leaves the 250k producer out to dry, just like regular retention. But say the next 10k of the month goes from 50% to 55%. That gives about a 5-10% overall bump to the 350 producer, spread over the five years of the deal, just like regular retention. Then perhaps the next 20k goes to 60%. That gives the 500k producer about a 15-20% bump, and so on. A 2mm producer, topping out at, say, 70% payout on everything above 70k a month ends up with about a 35-40% per year pick-up, which adds up to about 200% over five years, just like regular retention. The only real difference is who gets use of the $ and when -- as well as that nagging problem about other firms not only paying it now but paying it on T12, which especially for stock jocks may be a very big difference in how it all goes down. Some guys are looking at half of what T12 is for the next 12. Management may need to fine tune their selling skills.[/quote] I would be very suprised if that is what they are doing. JH told me that the delay in announcing was due to the congressional testimonies going on today. If all they were going to do was a grid bump and restricted stock, it would be easy to call it just that a grid bump due to unprecidented market conditions and they completely avoid the BONUS talk. I will be very suprised if it doesnt have a upfront cash component. Thats what guys and gals need right now. He and they know this and the stuff you are talking about is so far out of the box that delaying announcing makes no sense because it wouldn't/couldnt be viewed as a bonus because what you are talking about isnt a bonus.[/quote] they have only been delaying to get something done, this was not their first choice. It just came to this is better than the alternative right now, which is nothing. Acquiring firm was to pay cash and that has not been done yet. This buys time.[quote=BukiRob]
BP suggested we call and email. I did and Jim Hayes had left a voice mail that I recieved this morning and I called him back and spoke with him directly.No, he didnt give me the details about retention. What he did say (we talked for about 20 minutes) was that retention had been approved and they are waiting to annouce the details until AFTER the dog and pony show going on in Congress right now.
We will get a firm wide email telling us when the conference call will take place. He indicated that the email will come down shortly after the testimony before congress.
I cant think of any other firm where the President of PCG would bother to take time to speak with a middle of the road producer. To me, that speaks volumes about the this firm. Many of you may not agree with that statement but I am and was impressed that he would bother to take time to speak to me.[/quote]
Anyone get that e-mail?? The hearings are over, aren’t they?
No offense meant to you guys but I hope you get something soon this thread is way too long. BTW I hope it’s good for you guys, you deserve it.
[quote=TiredofWaiting] [quote=BukiRob]
BP suggested we call and email. I did and Jim Hayes had left a voice mail that I recieved this morning and I called him back and spoke with him directly.No, he didnt give me the details about retention. What he did say (we talked for about 20 minutes) was that retention had been approved and they are waiting to annouce the details until AFTER the dog and pony show going on in Congress right now.
We will get a firm wide email telling us when the conference call will take place. He indicated that the email will come down shortly after the testimony before congress.
I cant think of any other firm where the President of PCG would bother to take time to speak with a middle of the road producer. To me, that speaks volumes about the this firm. Many of you may not agree with that statement but I am and was impressed that he would bother to take time to speak to me.[/quote]
Anyone get that e-mail?? The hearings are over, aren't they?[/quote] So.... why wouldn't that info be broadcast enmass under the circumstances?
I would imagine being that hearings are now wrapped up e-mail will come on Thursday for Friday announcement as I have said 1000 times before. here is the deal. If WS wants to give me 70% payout upfront for two years, then at any point Wells sells us or LLC’s us off we get the retention (Large and upfront) we were expecting now. I could live with that scenario
BE PATIENT:
Agreed, does not seem like the worst deal, dont know why some are griping. Unless someone is cash strapped, this plan would seem to work out better in the long run. Would have to think you could get paid again soon enough.I would imagine being that hearings are now wrapped up e-mail will come on Thursday for Friday announcement as I have said 1000 times before. here is the deal. If WS wants to give me 70% payout upfront for two years, then at any point Wells sells us or LLC’s us off we get the retention (Large and upfront) we were expecting now. I could live with that scenario