Thread regarding Windstream Corp. layoffs

U.S. Trustee files objection to the second round of proposed KEIP and KERP programs

The U.S. Trustee objects to the 2020 KERP and KEIP programs based on the goals being too low and the bankruptcy dragging on longer than expected.

Short and to the point (as far legal filings go):

http://www.kccllc.net/windstream/document/1922312200108000000000003

KERP (Key Employee Retention Plan) is for the top 5 executives.

KEIP (2020 Key Employee Incentive Program) is for 100-ish other employees.

The U.S. Trustee is a Justice Department official tasked with the administration side of bankruptcy cases in a federal court district.
https://en.wikipedia.org/wiki/United_States_Trustee_Program

"The U.S. Trustee may not, however, serve as the case trustee in Chapter 11. Along with the creditors committees, the U.S. Trustee acts as the primary "watchdog" to ensure compliance with the Bankruptcy Code in cases where no trustee has been appointed."
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| 1971 views | | 12 replies (last January 11, 2020) | Reply
Post ID: @OP+12V9CM6i

12 replies (most recent on top)

These mofos are grabbing evey penny they can get now. Hey Arkansas 5, enjoy your ill gotten gains now. But you know what they say karma's a b1tch.

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Post ID: @2eha+12V9CM6i

Next gen dsl and software reseller.

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Post ID: @2fpg+12V9CM6i

The Arkansas 5 should have their KEIP tripled, those charts look like it look at least 15 minutes to make. HAHAHAHAA

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Post ID: @1pmu+12V9CM6i

If this is how the LR5 ran the company when being motivated by millions in bonuses imagine how poor their performance will be without all that financial motivation.

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Post ID: @1eqe+12V9CM6i

The LR5 are sociopaths. Look up the definition and see if this does not match thier behavior to a T. They literally do not care one bit about others and see themselves as superior, regardless of how badly they perform. But on the other hand they have played the investors, the courts, the employees. The BoD and Judge Draino like a drum.

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Post ID: @sgt+12V9CM6i

Lil T ain't worried Board gave him contract for no worries rest of life. If they weren't inept they would have kicked him as far as on could punt prior to BK. Could of got reorganization hatchet person to come clear Colorado, Texas, and rest of yes folks by giving them Rent a center applications. Lil T will be on yacht late May counting his bounty.

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Post ID: @iov+12V9CM6i

Their only plan was to keep buying CLECs for the customers. Well now all the customers have left and Windstream still has every piece of every CLEC network still in production and the MRC is thru the roof. If they would have been integrating and consolidating like every other telecom they wouldnt be in too bad of shape.....but they obviously didnt know what they were doing. No leadership and no plan got you here.

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Post ID: @efp+12V9CM6i

whatever happens, the LR5 will leave with buckets of cash and hand over a disaster to whoever gets handed over the reigns. It will be as though no one did anything for the past year and all the money put aside for KEIP/KERP was a completely wasted. We could have fired them the day we went into bankruptcy and handed the company over to anyone and be in the same spot. Who ever loaned the LR5 the money for KEIP/KERP, guess what? Now you know how the rest of us have felt for years under these greedy incompetent fools.

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Post ID: @ghv+12V9CM6i

I'm glad that trustee can see the light. Common sense would have seen this a year ago and given them 6 months to get their act together. The next payment for KEIR/KERP is in March. In the event that any of those people get let go they still get their bonus paid out. Lots of blood to shed in the next few weeks. It's going to be the case of the haves and have nots, Staff employees & managers will get nothing while everyone director and above go laughing to the bank!

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Post ID: @mqq+12V9CM6i

They deserve it, They made all these nice beautiful charts. LMFAO

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Post ID: @lgd+12V9CM6i

Uncle Tony and the boys will leave this company laughing all the way to the bank, if they are allowed to stay on board. The rest of us will be left squeezing water out of rocks once they leave.

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Post ID: @wfx+12V9CM6i

its about time someone realized that the LR5 were trying to stretch things out on purpose to further pad their pocketbooks. Let them quit and forfeit any more money if they thing they are being underpaid for their incredibly lackluster performance. Some b@lls on these guys, asking for the bar to be lowered for them, more time, and more money....

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Post ID: @zzl+12V9CM6i

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