Corporate Obscenities -
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read Advertise

LinkBack Thread Tools Display Modes
Old May 26th, 2010, 10:04 PM   #1
Honourable Citizen
CubaMark's Avatar
Join Date: Feb 2001
Location: Nova Scotia, Canada
Posts: 17,683
Send a message via AIM to CubaMark
Red face Corporate Obscenities

Tribune Chapter 11 Plan Includes $15M In Executive Bonuses

The new bonuses, which cover 42 top executives, include nine of Tribune’s 10 top-ranking corporate leaders, according to papers filed with the U.S. Bankruptcy Court in Wilmington, Del.

They are in addition to $57.4 million worth of bonuses already approved by a bankruptcy judge over the protests of unions whose members lost jobs due to the company’s financial struggles. The earlier bonuses were paid out between May 2009 and February 2010.
(Wall Street Journal) about rewarding incompetence...

* * * * * * * * * * * * * * * * * * * *
The Cuban Revolution as Socialist Human Development Brill Books (Amazon Paperback)
CubaMark is offline   Reply With Quote
Sponsored Links
Old May 27th, 2010, 12:25 AM   #2
Honourable Citizen
chas_m's Avatar
Join Date: Dec 2007
Location: Victoria BC
Posts: 11,953
Send a message via AIM to chas_m
Shameful, but I don't actually blame the Trib; the execs are just doing what execs do.

Who's the bought-and-paid-for judge on this? Does he even remotely understand the term "justice?"
chas_m is offline   Reply With Quote
Old May 27th, 2010, 02:46 AM   #3
Honourable Citizen
bsenka's Avatar
Join Date: Jan 2009
Location: Winterpeg
Posts: 1,267
They were explaining the logic behind these big bonuses even for failure on NPR the other day. Apparently the "bonus" is often just an unfortunate term, where it's actually part of their salary. That end of the year (or in the event of termination) balloon payment is a negotiated part of the contract, not an actual performance bonus.

The issue is, did the laid-off employees get whatever severance was agreed to in their employment contracts? If they got what they agreed to, they've got no grounds to complain really. If the didn't, that's a whole other matter.
iPad 32GB w 3G / iPod Classic 160GB / iPod shuffle 2GB / iPod Touch 4 32GB.

Mac Pro 8-Core 2.8GHz , 23" Cinema HD Display, medium Intuos4. / 20" iMac 2.4GHz w. 22" LG matte side display and 15" Cintiq

HP Mini "hackbook"
bsenka is offline   Reply With Quote
Old May 27th, 2010, 08:45 AM   #4
Honourable Citizen
Macfury's Avatar
Join Date: Feb 2006
Location: Toronto Proper
Posts: 41,797
The "bonus" is just a way for people to get around monstrous taxes on income.
"My life is my own."

Mac Pro 5,1 3.2 GHZ Quad Core; MacBook Pro 1,1; iPhone 4
Macfury is online now   Reply With Quote
Old May 27th, 2010, 08:54 AM   #5
Full Citizen
Join Date: Jul 2004
Location: Oakville, ON
Posts: 612
Originally Posted by Macfury View Post
The "bonus" is just a way for people to get around monstrous taxes on income.
Not in Canada or the US.
WCraig is offline   Reply With Quote
Old May 27th, 2010, 09:02 AM   #6
Honourable Citizen
screature's Avatar
Join Date: May 2007
Location: Aylmer (Gatineau) across the river from Ottawa
Posts: 20,720
Originally Posted by WCraig View Post
Not in Canada or the US.
+1 It is still income, doesn't matter if it is a lump sum or otherwise, the tax man must be paid.
screature is offline   Reply With Quote

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Research: How smartphones changed corporate communications? tacsniper Everything Else, eh! 0 Feb 15th, 2009 01:56 PM
EPP Corporate plan equivalent for share plans animaspartan All iOS - iPhone, iPad, iPod touch, Apple TV & iTunes 0 Dec 5th, 2008 04:46 AM
iPhone 3G on a corporate plan HowEver All iOS - iPhone, iPad, iPod touch, Apple TV & iTunes 43 Sep 4th, 2008 02:41 PM
Switch from normal to corporate genexxa All iOS - iPhone, iPad, iPod touch, Apple TV & iTunes 6 Aug 13th, 2008 12:28 PM
Corporate users- No iPhone for you. marct All iOS - iPhone, iPad, iPod touch, Apple TV & iTunes 96 Jul 29th, 2008 12:22 AM

All times are GMT -4. The time now is 02:49 PM.

Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.
Copyright © 1999 - 2012, All rights reserved. ehMac is not affiliated with Apple Inc. Mac, iPod, iTunes, iPhone, Apple TV are trademarks of Apple Inc. Content Relevant URLs by vBSEO 3.6.0 RC 2 Urban living in Toronto!