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Papa John's CEO gets pay cut, no bonus
The State.com ^

Posted on 04/06/2004 11:06:25 AM PDT by Dbdaily

DES MOINES, Iowa - The top executive at Papa John's International Inc. received no bonus and no stock options in 2003, as the pizza company's earnings plunged, according to a regulatory filing. His base pay also shrank.

According to the proxy statement, founder, chairman and chief executive John H. Schnatter's total compensation package was $649,785.

The Louisville, Ky. company's executive compensation committee had approved a 2 percent raise for most officers, Schnatter included. But last May he asked that his base salary be reduced by $200,000 "in order to provide funds to increase the compensation of certain restaurant-level managers and corporate management," the Securities and Exchange Commission filing said. Accordingly, his base pay was cut to $575,200.

Also, at his request, Schnatter received no stock options or other equity-based compensation from the company. Several other senior executives, including his brother Charles Schnatter, did receive a 25,000-share option award.

Because the company didn't meet established quarterly or annual earnings thresholds during 2003, no bonus payments for performance were made under the incentive plan, the proxy said.

In 2002, CEO Schnatter was paid $750,923 and received a $293,649 bonus, but no options.

Papa John's earnings fell 28 percent to $33.6 million, or $1.86 a share, last year. Sales dropped 3 percent due to intense competition in the pizza-delivery industry.


TOPICS: Business/Economy; Culture/Society; Extended News; Miscellaneous; News/Current Events
KEYWORDS: papajohns
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CEO cut his own pay for the Company. How often do you see that going on?
1 posted on 04/06/2004 11:06:26 AM PDT by Dbdaily
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To: Dbdaily
CEO cut his own pay for the Company. How often do you see that going on?

Not often!

2 posted on 04/06/2004 11:08:46 AM PDT by FourtySeven (47)
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To: Dbdaily
I think I'm gonna go to Papa Johns more often.
3 posted on 04/06/2004 11:08:46 AM PDT by theDentist (JOHN KERRY never saw a TAX he would not HIKE !)
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To: All
Rank Location Receipts Donors/Avg Freepers/Avg Monthlies
24 South Carolina 255.00
9
28.33


68.50
8

Thanks for donating to Free Republic!

Move your locale up the leaderboard!

4 posted on 04/06/2004 11:10:55 AM PDT by Support Free Republic (Your support keeps Free Republic going strong!)
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To: theDentist
Unfortunately their product is not that good- it is a small step above Little Caesars.
5 posted on 04/06/2004 11:11:51 AM PDT by Fast Ed97
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To: Dbdaily
Great Cheap Pizza also. Goes well with Pabst.
6 posted on 04/06/2004 11:12:08 AM PDT by Dead Dog
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To: Dbdaily
Sales dropped 3 percent due to intense competition in the pizza-delivery industry

Or due to the lousy taste of their pizza. Take your pick.

7 posted on 04/06/2004 11:12:13 AM PDT by trad_anglican
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To: Dbdaily

Now, this is good (take & bake) pizza.

8 posted on 04/06/2004 11:13:22 AM PDT by martin_fierro (Fingers of Fury™)
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To: Fast Ed97
What's the best, in your opinion?
9 posted on 04/06/2004 11:13:43 AM PDT by xrp
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To: xrp
I like small pizza places best, but for a national chain I'd go with Round Table.
10 posted on 04/06/2004 11:15:51 AM PDT by johnfrink
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To: xrp
The best? You're about to start a real flamewar here. I'd say the best pizza is made at Palermo's on Hillhurst in Hollywood.

The worst I've ever had was in Australia.

11 posted on 04/06/2004 11:15:54 AM PDT by Seruzawa (If you agree with the French raise your hand - If you are French raise both hands.)
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To: trad_anglican
yep, a year ago I loved papa johns, but over time, they started to make the pizza thinner, more cheaper looker, Pizza Hut OTOH has stepped up its pizza.
12 posted on 04/06/2004 11:16:23 AM PDT by Pikamax
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To: Dbdaily
Great news that the man is looking for others first!

I love Papa Johns pizza!
13 posted on 04/06/2004 11:16:46 AM PDT by tutstar ( <{{--->< http://ripe4change.4-all.org)
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To: Fast Ed97
Maybe where you are--over here it is by far the best pizza around. I don't know anyone who doesn't love PJ's!
14 posted on 04/06/2004 11:16:54 AM PDT by Future Snake Eater ("Oh boy, I can't wait to eat that monkey!"--Abe Simpson)
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To: trad_anglican; Fast Ed97
You gotta love a company that does this.
15 posted on 04/06/2004 11:19:43 AM PDT by Future Snake Eater ("Oh boy, I can't wait to eat that monkey!"--Abe Simpson)
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To: Dbdaily
I bet he still gets FREE PIZZA!!!
16 posted on 04/06/2004 11:21:08 AM PDT by expatguy (Fallujah Delenda Est!!)
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To: Future Snake Eater
In descending order...

Pizza Hut
Mellow Mushroom
Papa John's
Domino's

17 posted on 04/06/2004 11:21:35 AM PDT by TheBigB ("She undercut the subtle nuance of my wiener joke." - Crow T. Robot)
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To: Fast Ed97
I agree. Papa John's is like all the other chains these days. Their pizza is tasteless and soggy, like Domino's, etc. The last good pizza I can remember from a chain was Godfather's in the early 80s. Shakey's was good in the 70s.
18 posted on 04/06/2004 11:27:45 AM PDT by Spandau
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To: Fast Ed97
I disagree...I love their pizza.
19 posted on 04/06/2004 11:30:03 AM PDT by TankerKC (Clogged Arteries and Still Smilin'!)
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To: FourtySeven; Dbdaily
CEO cut his own pay for the Company. How often do you see that going on?

More often than you know. Especially when the CEO is also the company founder. Charles Schwab and the entire BOD did this a couple years ago to avoid lay offs.

It is far more common than people think. It rarely makes the news and is rarely remembered when it does. People remember headlines like "CEO boosts pay 500% while laying off thousands"

20 posted on 04/06/2004 11:30:09 AM PDT by Phantom Lord (Distributor of Pain, Your Loss Becomes My Gain)
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To: TheBigB
Mellow Mushroom

True...if you ever get your food. I had to give up on going there.

21 posted on 04/06/2004 11:34:26 AM PDT by TankerKC (Clogged Arteries and Still Smilin'!)
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To: Seruzawa
Hah, you can't flame someone's opinion. It is a matter of "I like" or "I love" or "I dislike". Everyone might have a pizza preference, but I hope people don't argue about something so petty ;-)
22 posted on 04/06/2004 11:35:56 AM PDT by xrp
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To: Future Snake Eater
Yep, cool!
23 posted on 04/06/2004 11:36:36 AM PDT by fml ( You can twist perception, reality won't budge. -RUSH)
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To: martin_fierro
I especially like their creamy garlic & chicken pizza, Damn Good.
24 posted on 04/06/2004 11:39:43 AM PDT by bigfootbob
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To: TankerKC; TheBigB
My opinion of the Mellow Mushroom is about as low as it can get regarding pizza. And that is not even taking into consideration their very high prices.

One of my favorite foods is day old pizza. Leave it on the counter over night and it makes a great breakfast or lunch. This is not possible with Mellow Mushroom pizza. Even before it becomes "left over" pizza, it becomes like a sponge freshly soaked with water.

And I don't care what anyone says, the best pizza on the planet is real NY Pizza. And I'm not talking about the crap they sell down here in the south under the heading "NY Pizza" on the menu or on the window signage.

25 posted on 04/06/2004 11:47:59 AM PDT by Phantom Lord (Distributor of Pain, Your Loss Becomes My Gain)
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To: Seruzawa
Especially when places can be hit or miss. I didn't like Round Table in LA but my local RT is the best.
26 posted on 04/06/2004 11:48:13 AM PDT by Citizen of the Savage Nation
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To: johnfrink
agree completely...mom & pop pizza places are usually best. And every Round Table, quite a few, have been consistently good.
27 posted on 04/06/2004 11:54:08 AM PDT by Khurkris (Ranger On..."Facts are meaningless. You could use facts to prove anything thats even remotely true.")
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To: Dbdaily
The best pizza, hands down, is my completely homemade pizza. My friends call me and ask I bake them pies for dinner or football games etc.

Gotta pat myself on the back from time to time...
28 posted on 04/06/2004 11:55:14 AM PDT by Brytani (Politics: n. from Greek; "poli"-many; "tics"-ugly, bloodsucking parasites.)
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To: xrp
Really only the local- but among the national chain restaurants probably Pizza Hut.
29 posted on 04/06/2004 11:59:23 AM PDT by Fast Ed97
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To: Dbdaily
Back in the 70's I was a pizza cook with John Schnatter in a little Italian joint in our hometown. I went on to IU to study Economics. John went on to make a freakin' fortune in the pizza biz. Go figure.
30 posted on 04/06/2004 12:00:19 PM PDT by 12B
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To: bigfootbob
Yup!

I don't even like veggie dishes, but the veggie version of that is also great.
31 posted on 04/06/2004 12:10:30 PM PDT by martin_fierro (Fingers of Fury™)
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To: Phantom Lord; TankerKC
Well, the MM here in Nashville is very good. Good food and fast service. Of course, seeing as how it's right next to vanderbilt, there's a surplus of nose rings and retro eyeglasses amongst the waitresses. Nice, though. :)

And there's a local place in my hometown, Alfonso's, who makes the best in the world. IMHO, of course.

32 posted on 04/06/2004 12:13:36 PM PDT by TheBigB ("She undercut the subtle nuance of my wiener joke." - Crow T. Robot)
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To: 12B
I take it that Schnatter didn't go off to college. So many successful people don't. It costs a friggin' fortune to support all those tenured leftists these days too.
33 posted on 04/06/2004 12:15:09 PM PDT by Moonman62
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To: Dbdaily

Mmmmm...pizza...!
34 posted on 04/06/2004 12:22:39 PM PDT by SquirrelKing (If your beer tastes heavy, your tongue needs exercise. - Newcastle Brown)
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To: Dbdaily
I have never cared much for Papa John's pizza - way too much sugar in the sauce. My own choices for chain pizza in the Denver area are Blackjack and Beau Jo's.
35 posted on 04/06/2004 1:25:50 PM PDT by Denver Ditdat
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To: xrp
Max's Pizza in Surf City, N.C...
36 posted on 04/06/2004 1:29:05 PM PDT by dakine
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To: theDentist
Click on this FR thread for another reason to visit Papa John's :)
37 posted on 04/06/2004 1:34:55 PM PDT by mewzilla
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To: Phantom Lord
"[T]he best pizza on the planet is real NY Pizza."

Boy, ain't that the truth!

My girlfirend's from Bay Ridge, B'klyn and we always like to go to Gino's, or the 5th Avenue stores in downtown B'klyn.

Of course, Little Italy (whatever's left of it, it's all becoming Chinatown!) also has fantastic restaurants.

Not to mention the deli's in Brighton Beach, the baba ganoush and piroshki in Boro Park and the falafels!

MMmmm...NYC food!

Ed
38 posted on 04/06/2004 1:48:31 PM PDT by Sir_Ed
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To: tutstar
I think Papa John's makes great pizza.
39 posted on 04/06/2004 1:50:47 PM PDT by wingnutx (Are you a monthly donor? Why not? (the freeper formerly known as Britton J Wingnutx))
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To: Dbdaily
"Sales dropped 3 percent due to intense competition in the pizza-delivery industry."

I doubt it. There are about the same number of same-performing pizzer jurnts as ever. But one thing HAS changed.

Atkins/South Beach/Low Carb is a way of life for a very large segment of the Amurrican Pipple. You don't find pizzer on ANY low-carb menu. So as carbs get dumped, fewer pizzers are sold and any food chain that has only one trick pony is going to see its sales decrease.

Face it. The pizzer-jurnt industry got rich for decades selling, what is in essence, very expensive BREAD. Unless you really load it up with meats, veggies, extry-sauce and extry-cheese, it's BREAD. And by loading it up, we're talkin' about a 3-1 topping-to-crust weight advantage. NO one does that. Or they'd have to charge $40 for a large.

Michael

40 posted on 04/06/2004 1:57:52 PM PDT by Wright is right! (It's amazing how fun times when you're having flies.)
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To: Seruzawa
The best? You're about to start a real flamewar here. I'd say the best pizza is made at Palermo's on Hillhurst in Hollywood.

I think we are trying to compare national brands to national brands here. You sound like your favorite is a single restaurant, but thanks for the recommendation for someone traveling in that area. Always nice to know where there is good food.
41 posted on 04/06/2004 2:08:07 PM PDT by ridesthemiles (ridesthemiles)
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To: Dbdaily
Here in Brooklyn, NYC, we still have some great independent Pizza joints that put Papa John's to shame. Nevertheless, its sweet, soft crust still puts it ahead of Dominos (eat the box, it tastes less like cardboard than the pie), Pizza Hut (bleech) and Little Caeser's (Not Pizza, Not Pizza). Not much competition though...
42 posted on 04/06/2004 2:10:14 PM PDT by Clemenza ("Knowledge is Good" --- Emil Faber, Founder of Faber College)
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To: martin_fierro
I agree MF! Papa Murf's is some of the best pizza I have ever had.
43 posted on 04/06/2004 2:47:07 PM PDT by Ignatz (Cheerfully helping people be more like me since 1960....)
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To: Brytani
Gotta pat myself on the back from time to time... Well, before you dislocate yer shoulder and can no longer type, how about postin' yer recipe?
44 posted on 04/06/2004 2:49:40 PM PDT by Ignatz (Cheerfully helping people be more like me since 1960....)
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To: Ignatz
Check your freepmail, it's on the way
45 posted on 04/06/2004 3:14:43 PM PDT by Brytani (Politics: n. from Greek; "poli"-many; "tics"-ugly, bloodsucking parasites.)
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To: Brytani
Hmm...hasn't arrived yet.
Mouth is watering........Pavlov who?
46 posted on 04/07/2004 8:20:51 AM PDT by Ignatz (Cheerfully helping people be more like me since 1960....)
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To: Dbdaily
THey definatley have the best pizza of any of the delivery chains.. Can't wait till they open one close to where I live.
47 posted on 04/07/2004 8:25:08 AM PDT by HamiltonJay
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To: Pikamax
That is the problem theyhave in a nutshell. The quality of their product has dropped while their competion is getting better.
48 posted on 04/07/2004 8:27:37 AM PDT by TXBSAFH (KILL-9 needs no justification.)
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To: Ignatz
Hmmm I sent it out yesterday evening by private reply. It's sitting in my mail box as well. I'll re-send
49 posted on 04/07/2004 8:41:06 AM PDT by Brytani (Politics: n. from Greek; "poli"-many; "tics"-ugly, bloodsucking parasites.)
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To: Dbdaily
Firt place with a low-carb pizza wins.
50 posted on 04/07/2004 8:42:41 AM PDT by Aquinasfan (Isaiah 22:22, Rev 3:7, Mat 16:19)
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