Mark Gendregske Visiting Terminals (CEO Allied)

[KarHauLar]

Gee I wonder why Mark is so interested in visiting the drivers...

SEC Info - Allied Holdings Inc - 8-K - For 5/25/07



In connection with his appointment, Allied entered into an employment agreement with Mr. Gendregske to serve as President and Chief Executive Officer. Under the terms of the agreement, Mr. Gendregske is entitled to a base salary of $475,000 per annum,

AND THEN:

In addition to his base salary, under the agreement Mr. Gendregske is entitled to receive a performance bonus calculated in accordance with the Company’s executive bonus plan. Currently under the Company’s plan, if the Company achieves the budgeted EBITDA established by the Board for each fiscal year, Mr. Gendregske’s bonus would be equal to 100% of his base salary. If actual EBITDA is below 85% of the budgeted amount, no bonus will be paid and, if EBITDA is 115% of the budgeted amount, the bonus will be 150% of Mr. Gendregske’s base salary. If actual EBITDA is at or above 85% and below 115% of the budgeted amount, then the bonus payable to Mr. Gendregske will be adjusted accordingly. In addition, if actual EBITDA exceeds 115% of the budgeted amount, the Board, in its discretion, may award Mr. Gendregske an additional bonus.

[LOAD AND PARK CHARLIE]

Friggin rediculous. These people need a serious dose of reality. Cut the drivers pay, and reward scumbags like this guy, with gross pay and benefits. Enough is friggin enough.

[Speedloader]

So for those Allied guys and dolls logged in here .... has everyone had a chance to meet the big cheese and his entourage in all the terminals he visited in both the US and Canada ? Did anyone get a chance to ask questions ? What did you think of what he (and attended company) had to say ?

*NOTE - Be careful what you write on-line ...... ya dig ? On any forum, anywhere .... Don't burn any bridges .... *

Speedloader

[EastCoastAllied]

Quite frankly I thought he was willing to ask questions or have one of the men with him answer. We asked several that they needed to get more information and they called us back within a week. Although the information that they presented was already known to everyone, Gendregske was able to point out how it impacted our industry and company. Although we did not like hearing about the truck speed issue, he was man enough to tell us before turning down the trucks. Not like Sawyer who thought he could do whatever he wanted. I was shocked at the information about bridge hits, one every 9 days. That has to change. If we can meet the goals for improving accidents, injuries, and cargo damages perhaps we can get some bonus money. That assuming we can get back to work after the January plant shutdowns. In my 20+ years hauling vehicles, this is the scariest I have ever seen the industry. We can't even rely on imports keeping us working.
Hope everyone has a Merry Christmas and that 2009 brings us increased car sales.

[Speedloader]

They were certainly friendly enough. They were pretty rushed at our terminal, however. Not alot of time for questions at all. They did 3 terminals up here in one day and covered about 500 miles. Anyway, like I said, everybody was shaking hands and talking nice, but that's what you expect for a meet and greet. As far as turning back the trucks is concerned, I was left with the idea that they were 'still considering' the idea for up here. Then the next day ...... Anyway, as far as the industry goes, we all know it's hurtin'. That wasn't news. So hopefully, yeah, things pick up again in 2009, but with all these plant closures (temp and perm), I think things'll be slow for a bit yet. Merry Xmas back at ya.

Speedloader