Friday, November 15, 2019

Calhoun, Georgia-Based Mohawk Industries Inc's Top-Tier Executives Average Annual Pay and Employee Benefits Increase Was a Clean 8.2% Per Year During the Past Ten Years

The fourth Democratic 2020 Presidential candidate debate was held on October 15, 2019 at Otterbein University in Westerville, Ohio, a Columbus suburb.  It was good to see a significant improvement in the quality and relevance of the questions asked by the hosts, particularly the major focus on the key economic issues.  Nearly all of the 12 candidates performed well but two of them stuck out as exceptional ..... Pete Buttigieg and Amy Klobuchar ..... who both substantially stepped up their insightful assertiveness.  

Amy gave the single most relevant phrase when she asserted that so much of what Elizabeth Warren is proposing are "Pipe Dreams" and have no chance of getting enacted.  Independents and even reasonable Republicans, who will be deciding the 2020 Presidential general election, have zero interest in these fiscally irresponsible "Pipe Dreams".  This is not going to unify the country, which is what the country is desperately seeking in the next President. 

The fifth Democratic 2020 Presidential candidate debate will be held on November 20, 2019 in the Atlanta, Georgia.  Let's hope MSNBC does a much better job this time.  Last time it couldn't control the candidates and also it pretty much ignored the key economic issues.  Glad to see Washington Post is co-hosting this key event.

So far in my research of large US Corps I have shown that their Top-Tier Executives have been rewarded continually with just enormous annual increases in pay and employee benefits, mostly stock equity compensation, to the extent that the key issue to US citizens should be the huge and continuing Income Inequality Expansion which is at the core of many critical problems the US faces.

While increasing the US federal minimum wage will help here, there is a much broader and critical problem that needs to be solved.  The annual percentage increase in the pay and employee benefits of Company non-executive employees are minuscule in relation to that of Company executive employees and this has been going on for decades.  When Corporate CEOs and CFOs primarily view non-executive employees as Costs rather than as People, this is what happens.  And neither political party has had the courage to take on US Corps here.

So I now will be doing research and making posts on the annual pay and employee benefits percentage increases that the Top-Tier Executives of large Georgia Companies were rewarded with in the past five to ten years.  

The 17th Georgia Company I am addressing here is Mohawk Industries Inc.

From annual compensation information contained in Company Proxy Statement filings with the US SEC, the chart below shows Mohawk Industries Inc's Top-Tier Executives Annual Total Compensation for each of the two consecutive full years of employment for the past ten years.
  
Mohawk Industries Inc's Top-Tier Executives Average Annual Pay and Employee Benefits Increase was 8.2% per year during the past ten years.

FYE FYE FYE FYE FYE FYE FYE FYE FYE FYE
Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec
Mohawk Industries Inc 2018 2017 2017 2016 2016 2015 2015 2014 2014 2013
Top-Tier Total Total Total Total Total Total Total Total Total Total
Executive Comp Comp Comp Comp Comp Comp Comp Comp Comp Comp
$ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s
Lorberbaum CEO       4,631       5,018       5,018       7,071       7,071       6,117       6,117       5,006       5,006       5,238
Boykin CFO       2,111       2,243       2,243       3,075       3,075       2,682       2,682       2,264       2,264       2,305
Wellborn COO       4,002       4,186       4,186       5,967       5,967       5,146       5,146       4,329       4,329       4,391
Thiers President Flooring ROW       2,542       2,270       2,270       2,839       2,839       2,636       2,636       2,615       2,615       2,620
De Cock President Flooring NA  N/A   N/A 
Carson President Flooring NA       2,235       2,997       2,997       3,421       3,421       1,998       1,998       1,974
 Totals      13,286     13,717     15,952     21,949     21,949     20,002     20,002     16,212     16,212     16,528
Annual % Change vs Prior Year -3.1% -27.3% 9.7% 23.4% -1.9%
5 Year Average Per Year % Change 0.1%
FYE FYE FYE FYE FYE FYE FYE FYE FYE FYE
Dec Dec Dec Dec Dec Dec Dec Dec Dec Dec
Mohawk Industries Inc 2013 2012 2012 2011 2011 2010 2010 2009 2009 2008
Top-Tier Total Total Total Total Total Total Total Total Total Total
Executive Comp Comp Comp Comp Comp Comp Comp Comp Comp Comp
$ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s $ 000s
Lorberbaum CEO       5,238       4,297       4,297       2,754       2,754       2,192       2,192       1,500       1,500       1,563
Boykin CFO       2,305       1,962       1,962       1,312       1,312       1,090       1,090          771          771          841
Wellborn COO       4,391       3,714       3,714       2,402       2,402       5,359       5,359       5,081       5,081       4,397
Thiers President Flooring ROW       2,620       2,178       2,178       1,929       1,929       1,448       1,448       1,249       1,249          771
Carson President Flooring NA       1,974       1,861       1,861       1,199       1,199          875    
Turk President Dal-Tile       1,283       1,024       1,024          691    
Frank Peters President Mohawk Flooring       1,169          729          729       1,404
 Totals      16,528     14,012     14,012       9,596     10,879     11,988     12,282     10,021       9,330       8,976
Annual % Change vs Prior Year 18.0% 46.0% -9.3% 22.6% 3.9%
5 Year Average Per Year % Change 16.2%
10 Year Average Per Year % Change 8.2%

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