I worked almost 20 years at a Fortune 500 high technology manufacturing company. After several years of poor performance a new CEO was brought in to turn things around. In late October, several months after he arrived, an All Managers meeting was called at which the new CEO talked about a number of changes which were going to be made.
A key component of his message was that "We are all in this together." One thing we would all be doing together was that there would be no Management Bonus Program for the year. As the CEO said, "None of us will receive a management bonus."
About five months later, while reading the fine print of the company's SEC report, I learned that corporate VP's and above had aactually received tens of thousands of dollars of cash and stock bonuses for the past year. They had done so because they were covered not by the Management Bonus Program but by the Executive Bonus Program.
And corporate executives wonder why they have a bad reputation!