News | Business

Top SS&C Officers Receive Millions in Bonuses

$4.5 million were given to the Windsor company's top executives.

Posted by Julian McKinley (Editor), March 20, 2012 at 08:18 pm

Windsor-based SS&C has awarded four of its top officers with $4.5 million in bonuses, including CEO Bill Stone, Hartford Business Journal reports.

The bonuses handed out were based on performance in 2011, a year in which the technology company increased its product line and client base through , , and .

Stone recieved $2.5 million of the $4.5 million payout, according to Hartford Business, and adjusted the CEO's annual base salary to $750,000.

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BOE Budget cut meeting scheduled for Friday, May 31

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George Slate May 25, 2013 at 10:03 pm

My guess is that there will be plenty of comments here in Patch land next weekend as a result of…Read More this meeting. At least we will know how the BOE allocates the $600,000 in cuts before the June 4 referendum.

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Michele Vannelli May 25, 2013 at 10:28 pm

My understanding is that towns can have a referendum vote with little or no input by their BoE as to…Read More where cuts to the school budget will be made. While that may be true, I wonder how many towns, who keep their voters in the dark, have had such circumstances as unique as ours. I believe the Dr. James contract needs to be eliminated. First off, hardly anyone understands it and the manner in which it was passed is questionable. A study (understandable or not) is just that - A STUDY. It's NOT a magic pill which will fix our school system. The magic pill has to come from the voter. It can be in the form of voting "no" so that money isn't available to be thrown away on an unwanted study. It can be in the form of implementing responsibility, first and foremost at home between parents and their kids. Then, at school with administration willing to back their teachers. Teachers need to know their administration will back them up. Teaching is much more difficult than when most of us were in school. Lastly, we need to demand our town officials use whatever tax money we give them wisely. If you're not satisfied, then come November, don't reelect them. BE THINKING RESPONSIBILITY & RESPONSIBILITY FOR A BETTER WINSOR!

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lhhs May 25, 2013 at 04:20 pm

Mr. Williams, you are absolutely correct, although it is not the entire BOE that's an embarrassment.…Read More I am an Independent voter, but have always voted Republican when it comes to electing our BOE. All the Democrats seem to do year after year, is continue to add money to a school system that needs a complete overhaul! You are so right about the teachers not being able to teach. The administrators continue to disbelieve the teachers and are constantly taking the child's side. Giving rewards to children who are unruly, while the majority of students who do the right thing day after day get nothing, but wonder why if they are doing what they are supposed to do, they get nothing. When a child asks you if they start behaving poorly, can they receive rewards during the day instead of working, there is a problem with the system and when students are moved into a different classroom because a teacher is too strict or the child's parent isn't happy with them being disciplined, there is a major problem. It's about time the administrators start having a backbone and standing up to these students and their parents. We are doing these students such a disservice and giving them the worst lesson they could receive. Students need to be held accountable for their actions and learn to take responsibility. I dare any administrator to take the place of a teacher for one day and see the difficulty they endure day after day! This town is so top heavy with administrators that aren't doing their job. The amount of money spent for administrators that don't deserve a job is unbelievable, but the town doesn't have the backbone to terminate them but instead creates another position for them. Scores are never going to improve unless we start respecting teachers and holding our students responsible as well as their parents. I also do not believe that the budget will pass until Dr. James' contract is terminated. Residents are not happy that we, as taxpayers, were never given the opportunity to voice our opinion and have a vote on whether we wanted to put our taxpayer money toward such a study that has already been done and didn't work the first time!

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John Williams May 25, 2013 at 10:02 am

This BOE along with the school system is a complete disaster. Having given them the majority of…Read More all tax increase dollars over the past ten years, it’s sad that we have continually seen the quality of education, along with State of CT standings in academics, fall lower and lower. I'm still trying to figure out how our technically new superintendent of schools was given a raise , fairly substantial, without showing to have overseen any improvement in our entire school system, while in fact, the State academic scores went down. I'm not sure how it works here in Windsor, however, in my multi-national employer, you are given merit increases based on performance...not what other employees are making around you. It is just an example of inappropriate spending. The BOE needs to figure out that taking teachers away, not that it really matters, isn't going fix anything, howerer, removing positions in house, ie: admin positions within the system, positions that were created in fat and robust times, need to be eliminated. It's really not that difficult. By the way, if anyone thinks money will fix our school systems...they are sadly mistaken. School begins in the home, teachers need to actually want to teach and not feel beaten down by kids whom do and say whatever they want w/o consequence, and lastly, our administration needs to stop looking the other way when it is time to discipline these disruptive kids who are creating a hostile learning environment. The no kid left behind thing wasn't meant to protect trash, it was meant to ensure everyone whom needed and wants an education gets one. The BOE is an embarrassment.

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Al Simon May 25, 2013 at 04:01 pm

@MaryAnn- why do I fight so hard to maintain public services? Because when you lose them to budget…Read More cuts, it is practically impossible to get them back (see Leaf pickup), both for the service itself and for the staff who did the work.

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Al Simon May 25, 2013 at 03:59 pm

@Tim- the Fed grant money we have used for years for the housing rehabilitation program may no…Read More longer be there for us (Heard of sequestration?) In fact, if we do not get the grant money this coming year, our ongoing efforts to improve housing stock may die completely, and our Community Development depart (which uses virtually NO Windsor tax dollars) may lose its reason for existence. That would be bad for our community.

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George Slate May 25, 2013 at 01:55 pm

Tim - It is good to see you commenting here again. Your comments are always calm, well reasoned,…Read More and insightful, and add to a good discussion. I am told that the Windsor Public Schools (WPS) have longitudinal data so the best course of action, instead of creating that data (in summarized form), is to do a FOI request. I will wait on that until the budget passes. What you write I have heard consistently for 23 years. The problem is, if I am not mistaken, is that the State of CT does not care if the student has been in your system for a short time, or a long time. Also, the data that you mention can only be obtained by WPS staff since it would require information about specific students. I want the data out in a public domain so we can all look at relevant information.

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George, Bill Generous has a good point, and that fact has a significant impact on test scores. i…Read More know that one year the BOE did a study of standardized test scores at the HS, separating the scores of those who started in our system vs. those who came in later. The differences were tangible. I taught at East Granby High School. I don't know the exact number, but a very significant number of my students had been together since third or fourth grade. So they were exposed to the same vertical curriculum all the way through. Definitely not the case in Windsor where mobility is pretty high. Students come and go in Windsor. And sometimes they come back, making it very difficult to get the new students up to speed. I also point out that a number of my students started out in Windsor.

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@Slate The BoE originally said they did not believe the Town Ethics Commission had purview over the…Read More BoE. Yes in November the voters can choose to continue the behavior with the current party in the majority. See the comment of WR who says a Councilor accepted responsibility here: http://windsor.patch.com/groups/schools/p/council-approves-reduction-in-education-funding

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R Eleveld - Just to clarify, The Town Ethics Committee ruled (1) that the BOE is subject to the Town…Read More Ethics Code, but (2) they do not have jurisdiction over violations of BOE by laws violations. When someone is brought in front of an Ethics Committee, and comes out vindicated, one of two things happen. They are humbled, or emboldened. The BOE President, and the Superintendent of Schools are emboldened because virtually nothing stands in their way of two person absolute rule, until November 2013. The only obstacle is for one of the Democrat BOE members joining the other four BOE members to reign (the pun works all too well here) them in (this appears unlikely). What is the old saying, Power corrupts, and absolute power corrupts absolutely? So we have to wait until November to try and fix this situation. In the meantime the voters in Windsor can keep voting NO on the referenda to send the message that we do not want dysfunctional BOE oversight. Or we could get back a functional BOE. Since September 12, 2012, this possibility grow less likely each day.

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R Eleveld May 20, 2013 at 10:18 am

@Michele, you are correct. The TC can only provide the BoE an amount of money, it can not in anyway…Read More tell the BoE what to do with that money. It could make suggestions, however they carry the same weight as any citizen making any suggestion to the BoE. State law has created the BoE as an island unto itself. They do not even think they are subject to the Town Ethics Code. The voters do have the power to change what they do not like in November. The question is will they again repeat the prior behavior and vote in those that will not make change. Remember Einstein's definition of insanity. It applies here.

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