visajets Posted February 26, 2011 Share Posted February 26, 2011 Johnson & Johnson's troubles lower bonuses for CEO and consumer products executive Published: Friday, February 25, 2011, 6:07 PM Updated: Friday, February 25, 2011, 7:19 PM By Bloomberg News Getty ImagesJohnson & Johnson CEO William Weldon and Colleen Goggins, who oversees the company's consumer products business, appeared before a congressional committee last year to answer questions about a series of over-the-counter medicine recalls. Health care giant Johnson & Johnson raised Chief Executive Officer William Weldon’s salary but cut his annual bonus for 2010, after two years of revenue declines and an unprecedented string of recalls involving Tylenol and other household medicines. The New Brunswick-based company set Weldon’s salary at $1.92 million effective Jan 1, up 3 percent from $1.86 million the previous year, according to documents filed yesterday with the Securities & Exchange Commission. Weldon’s annual bonus was cut 45 percent to $1.97 million from $3.6 million in 2009. "The board’s compensation and benefits committee evaluates Mr. Weldon and all the executive officers against a set of both financial and strategic objectives," the company said in a statement. For 2009, Weldon received total compensation of $25.6 million, which included stock options, bonuses and other perks. J&J is expected to release his total compensation for 2010 next month. In 2010, J&J’s stock fell 4 percent to $61.85, a steep decline for a diversified company that sells everything from Band-Aids to chemically engineered biotech drugs. For the last quarter of 2010, company reported a 12 percent drop in profit as sales were squeezed by a weak economy, pricing pressures and recalls that have kept many popular non-prescription medicines off store shelves. Sales of the company’s over-the-counter medicines fell more than 19 percent for the full year. J&J’s board also slashed the 2010 bonus of consumer products chairwoman, Colleen Goggins, who oversaw the factory at the center of many of J&J’s largest recalls. She received a performance bonus of $500,000, down from $1 million in 2009. Goggins, who is scheduled to retire next month, came under fire after a congressional hearing last May when she claimed the company had no part in a "phantom recall" in which contractors bought up defective Motrin tablets off store shelves. Goggins later said she had learned that the company wrote the instructions to conduct the operation. Goggins base salary was unchanged at $827,200 per year. J&J has issued 19 recalls since September 2009 covering over-the-counter medicines like Children’s Tylenol and Benadryl, plus contact lenses and hip replacements. The company shut down a major plant after federal regulators cited the facility for manufacturing problems, including releasing medicines containing tiny specs of metal. Weldon, who is 62, joined J&J in 1971 and was named chairman and CEO in 2002. Link to comment Share on other sites More sharing options...
visajets Posted February 26, 2011 Author Share Posted February 26, 2011 The title should have said Woody I typed Wonder. Sorry Link to comment Share on other sites More sharing options...
ECURB Posted February 26, 2011 Share Posted February 26, 2011 How does this effect Woody Johnson at all? Link to comment Share on other sites More sharing options...
visajets Posted February 26, 2011 Author Share Posted February 26, 2011 How does this effect Woody Johnson at all? He owns Johnson & Johnson. Did you see the salary and bonuses handed out to 1 employee? Link to comment Share on other sites More sharing options...
ECURB Posted February 26, 2011 Share Posted February 26, 2011 He owns Johnson & Johnson. Did you see the salary and bonuses handed out to 1 employee? He owns a public company? Damn and I thought I knew the first thing about how business works. Link to comment Share on other sites More sharing options...
visajets Posted February 26, 2011 Author Share Posted February 26, 2011 He owns a public company? Damn and I thought I knew the first thing about how business works. Johnson & Johnson .................Public & Public ? http://www.jnj.com/connect/?flash=true Link to comment Share on other sites More sharing options...
ECURB Posted February 26, 2011 Share Posted February 26, 2011 Johnson & Johnson .................Public & Public ? http://www.jnj.com/connect/?flash=true What is that supposed to mean/do? It is a public company in which he has no role... Link to comment Share on other sites More sharing options...
T0mShane Posted February 26, 2011 Share Posted February 26, 2011 I thought Woody had nothing to do with the day to day operations at J&J? He just lives off his granddaddy's dividends. Otherwise, Q-Tips would cost $56 a box because they're like taxi medallions. The article does give you some perspective, though, on how these guys live. There has never been a second in Woody's life where $20,000 was considered a lot of money. The guy probably spends on socks what most of us spend on our mortgage in a year. Link to comment Share on other sites More sharing options...
visajets Posted February 26, 2011 Author Share Posted February 26, 2011 What is that supposed to mean/do? It is a public company in which he has no role... His family is the founder and owners of the company. Woody Johnson is part of Johnson & Johnson. Im using it as an example of how much money this man has and throws around and then has the balls to raise ticket prices. DAMMIT Link to comment Share on other sites More sharing options...
ECURB Posted February 26, 2011 Share Posted February 26, 2011 His family is the founder and owners of the company. Woody Johnson is part of Johnson & Johnson. Im using it as an example of how much money this man has and throws around and then has the balls to raise ticket prices. DAMMIT A man with a ton of money has the balls to make more of it! WOW! Link to comment Share on other sites More sharing options...
ECURB Posted February 26, 2011 Share Posted February 26, 2011 His family is the founder and owners of the company. Woody Johnson is part of Johnson & Johnson. Im using it as an example of how much money this man has and throws around and then has the balls to raise ticket prices. DAMMIT Oh and again, they do not own the company. Link to comment Share on other sites More sharing options...
Kleckineau Posted February 26, 2011 Share Posted February 26, 2011 His family is the founder and owners of the company. Woody Johnson is part of Johnson & Johnson. Im using it as an example of how much money this man has and throws around and then has the balls to raise ticket prices. DAMMIT Family founded it but has not owned it or had any say how it is run for decades. Woodys only other business besides NYJ is the Johnson Company, Inc., a private investment firm he founded in 1978. Probably owns lots of J&J stock but thats about his only connection to J&J at this point. Link to comment Share on other sites More sharing options...
visajets Posted February 26, 2011 Author Share Posted February 26, 2011 Nevermind... Link to comment Share on other sites More sharing options...
ECURB Posted February 26, 2011 Share Posted February 26, 2011 Nevermind... Sometimes things sound great in your head, and don't work out. It will be ok. lol Link to comment Share on other sites More sharing options...
THE ILK Posted February 26, 2011 Share Posted February 26, 2011 Wonder bread bought the team? Link to comment Share on other sites More sharing options...
bobbyjet69 Posted February 26, 2011 Share Posted February 26, 2011 The title should have said Woody I typed Wonder. Sorry i was wonder-ing what the heck this meant? Link to comment Share on other sites More sharing options...
SoFlaJets Posted February 26, 2011 Share Posted February 26, 2011 I thought Woody had nothing to do with the day to day operations at J&J? He just lives off his granddaddy's dividends. Otherwise, Q-Tips would cost $56 a box because they're like taxi medallions. The article does give you some perspective, though, on how these guys live. There has never been a second in Woody's life where $20,000 was considered a lot of money. The guy probably spends on socks what most of us spend on our mortgage in a year. LMAO Link to comment Share on other sites More sharing options...
sirlancemehlot Posted February 27, 2011 Share Posted February 27, 2011 recalling hip replacements. Ummm... Link to comment Share on other sites More sharing options...
Maxman Posted February 27, 2011 Share Posted February 27, 2011 recalling hip replacements. Ummm... Yes not sure I like the thought of returning a hip. Link to comment Share on other sites More sharing options...
HessStation Posted February 27, 2011 Share Posted February 27, 2011 LOL Link to comment Share on other sites More sharing options...
Vudu Posted February 27, 2011 Share Posted February 27, 2011 His family is the founder and owners of the company. Woody Johnson is part of Johnson & Johnson. Im using it as an example of how much money this man has and throws around and then has the balls to raise ticket prices. DAMMIT It's called running a business. Who cares how much $ he has. What, he's supposed to give tickets away for free because he's already rich? Maybe Bill Gates should give Windows software away for free too because he's a billionaire. Link to comment Share on other sites More sharing options...
visajets Posted February 27, 2011 Author Share Posted February 27, 2011 It's called running a business. Who cares how much $ he has. What, he's supposed to give tickets away for free because he's already rich? Maybe Bill Gates should give Windows software away for free too because he's a billionaire. Oh quit looking for an argument with me. If you were a season ticket holder you would be bitching. Its the off season and things like this are fair game for discussion. I have my opinion and you yours. Link to comment Share on other sites More sharing options...
Vudu Posted February 27, 2011 Share Posted February 27, 2011 Oh quit looking for an argument with me. If you were a season ticket holder you would be bitching. Its the off season and things like this are fair game for discussion. I have my opinion and you yours. Why do you think Im looking for an argument with you? I just brought up a point. Quit being so sensitive Link to comment Share on other sites More sharing options...
THE ILK Posted February 27, 2011 Share Posted February 27, 2011 Who's the bitch? Too easy. Link to comment Share on other sites More sharing options...
visajets Posted February 27, 2011 Author Share Posted February 27, 2011 Who's the bitch? Too easy. Your mom, and yes she is. You asked for it. Link to comment Share on other sites More sharing options...
ECURB Posted February 27, 2011 Share Posted February 27, 2011 Oh quit looking for an argument with me. If you were a season ticket holder you would be bitching. Its the off season and things like this are fair game for discussion. I have my opinion and you yours. If you are dumb enough to buy season tickets for a NY sports team and think there wont be increases... well then I don't know how the hell you got the money in the first place. What is your suggestion? Make less money and have a waiting list? That is why you are not a rich business man. Link to comment Share on other sites More sharing options...
visajets Posted February 27, 2011 Author Share Posted February 27, 2011 If you are dumb enough to buy season tickets for a NY sports team and think there wont be increases... well then I don't know how the hell you got the money in the first place. What is your suggestion? Make less money and have a waiting list? That is why you are not a rich business man. Well heres the way I see things. The Country is in sort of a depression/recession. Homes are being foreclosed on and the unemployment level is at an all time high. Season ticket holders are already paying for the PSL fee. The NYJETS tried every ticket sales pitch imagineable last season. Many paid for pre-season whIle many didnt. The NYJETS/NYGIANTS/ New Meadowlands host 16 home football games more than anyother venue in the NFL. So I wouldnt have expected the ticket prices to rise until the econmoy got better. Thats just my opinion. I dont see myself as being dumb. ECURB Link to comment Share on other sites More sharing options...
THE ILK Posted February 27, 2011 Share Posted February 27, 2011 Your mom, and yes she is. You asked for it. I would be banned for this. What's visa's excuse? Link to comment Share on other sites More sharing options...
visajets Posted February 27, 2011 Author Share Posted February 27, 2011 I would be banned for this. What's visa's excuse? You wanna throw wise a$$ remarks out there, be prepared to get them right back at you buddy. Link to comment Share on other sites More sharing options...
THE ILK Posted February 27, 2011 Share Posted February 27, 2011 You wanna throw wise a$$ remarks out there, be prepared to get them right back at you buddy. I asked a question, you made accusations. Link to comment Share on other sites More sharing options...
visajets Posted February 27, 2011 Author Share Posted February 27, 2011 I asked a question, you made accusations. You called me a bitch. Link to comment Share on other sites More sharing options...
THE ILK Posted February 27, 2011 Share Posted February 27, 2011 You called me a bitch. Where? Link to comment Share on other sites More sharing options...
visajets Posted February 27, 2011 Author Share Posted February 27, 2011 Who's the bitch? Too easy. DLJ and I were in a discussion and you rudely intervened with a wise a$$ comment as usual. Link to comment Share on other sites More sharing options...
THE ILK Posted February 27, 2011 Share Posted February 27, 2011 DLJ and I were in a discussion and you rudely intervened with a wise a$$ comment as usual. I asked a question, I did not call you anything. As usual you can not back up your posts with facts. You are doing a fine job at answering my question though, carry on. Link to comment Share on other sites More sharing options...
visajets Posted February 27, 2011 Author Share Posted February 27, 2011 I asked a question, I did not call you anything. As usual you can not back up your posts with facts. You are doing a fine job at answering my question though, carry on. You like to joke around and criticize others,and throw in your snide remarks but once the tables turn you The Brooklyn Jet crys foul. Give me a break. Link to comment Share on other sites More sharing options...
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