What’s up, 1-800-flowers?
According to a Newsday article,
“…1-800-Flowers.com increased salaries to relatives of company chairman James McCann in addition to giving his sister a $200,000 bonus…. The moves came at a time when the stock has lost about two-thirds of its value since 2002.”
Here’s what the chairman’s relatives earned in 2006:
- Julie Mulligan (sister): $335,930 (63% raise), including a $205,930 “bonus”
- Chris McCann (brother): $548,000 (20% raise)
- Erin McCann (daughter): $64,071
- Jim McCann (self): $975,000
All these happening, despite the fact that the company stock has lost two thirds of its value in the last three years. No wonder the flowers of 1-800 are so much over-priced.
Categories: Official rant
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