"We don't know the details, but is not the fact that he was given a raise and a bonus an indication that good things have been done?"

Absolutely NOT. He's had huge raises and bonuses over the years he has been here and he has a sweetheart severance / change-in-control / resignation package and what looks like the highest 401(k) match imaginable. Meanwhile the stock price, which he is paid to improve, dwindles except for short-term spikes which look more and more like manipulation than market reaction.

Put yourself in CF's shoes - even he ought to agree that there is absolutely no way would he get a comparable compensation deal elsewhere based on PTSC's company results over recent years. His goal, for as long as he can get away with it, appears to be to 'execute' the directions of CJ per the instructions of DL. He has precious little responsibilities (just two employees) and does anyone really believe his vote on any matter counts? CJ will do whatever he wants to do or perhaps is instructed to do by his true employer, and GF is happy to just take the stipends. The fees for just the "Compensation Committee" are outrageous -just how much time did it take to approve CF's increases and those of two employees (although CF should be able to do that without BOD consent) assuming they even lasted long enough to earn one. An hour maybe, tops? Once a year? For which CJ gets $28,800 just to "chair" the "committee".

If there is one common factor in the so-called "management" and "director oversight" of PTSC it is personal greed. But face facts - if GF and CJ are willing to give this away to CF, morality and conscience aside, CF has no reason not to take it.

NOTE re CF salary increases:
Mr. Flowers’ initial base salary (9/2007 I believe) was $225,000 per year and he is eligible to receive an annual merit bonus of up to 50% of his base salary, as determined in the sole discretion of the Board of Directors. Effective October 1, 2008, October 5, 2009 and December 15, 2011, Mr. Flowers’ base salary was increased to $231,750, $291,750 and $327,750.
That's a 46% guaranteed increase over 4 years or so - average about 12% per year. In this economy??? No constraints or targets regarding company performance, personal performance, increase shareholder value etc. Who needs a "Compensation Commitee"??? What's to discuss??? This is how the BOD works - would they do the same if the actually owned the company and were spending their own money?

NOTE re 401(k):

On January 1, 2011 Patriot implemented a Safe Harbor 401(k) retirement plan which requires Patriot to match 100% of elective deferrals subject to a maximum of 4% of the participant’s eligible earnings. Try asking for that on your next interview!