https://www.google.com/amp/s/journalstar.com/business/local/windstream-to-put-its-name-on-new-lincoln-sports-complex/article_7c295911-1e19-54f4-9f8c-5d3dfc0066f9.amp.html
Folks are losing their employment, no notice given, request for bonuses. Yet got money for sponsorship names. Windstream won't be a name soon. Sad all the way around
It's Nebraska, lol.
Who would want these losers names on anything?
Judge approves incentive plan
Last week, U.S. Bankruptcy Judge Robert Drain approved Windstream’s 2020 executive incentive plan, according to a story by Channel Partners. According to Channel Partners, Windstream spokesman David Avery said the court had to approve Windstream's 2020 incentive plan due to its restructuring under Chapter 11. Avery also said that this year's incentives were similar to the performance incentive program used by the company prior it filing for Chapter 11.
The bonus plan approved by Judge Drain included:
• Tony Thomas, Windstream’s president and CEO, could receive up to $9.5 million.
• Robert Gunderman, chief financial officer and treasurer, up to nearly $3.5 million.
• Layne Levine, president of enterprise, up to nearly $2.3 million.
• Jeffery Small, president of Kinetic, more than $2.1 million.
• Kristi Moody, executive vice president-general counsel and corporate secretary, more than $1.4 million.
In February, Windstream lost a legal battle with New York hedge fund Aurelius Capital Management over whether Windstream had defaulted on bonds by spinning off the Uniti Group four years ago. As part of that spinoff, Windstream transferred copper-based network assets to Uniti, which Windstream leased back from Uniti to serve its 1.4 million residential and business customers across its 18-state footprint.
After the February ruling, Windstream filed for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York that same month.
RELATED: Windstream and Uniti drill down on settling lease terms—Bloomberg
Windstream is paying $54 million per month to Uniti for access to Uniti's network assets. The master lease with Uniti is set to expire in 2030, and has an annual rent of approximately $659 million. Windstream filed a complaint against Uniti on July 25 that sought to re-characterize its relationship with Uniti from a lease to a financing arrangement.
RELATED: As it marches through Chapter 11, Windstream Holdings sees its revenues slide in 3Q
In its November third quarter earnings report, Windstream Holding's revenues were down across the board. Little Rock, Ark.-based Windstream's adjusted total revenue and sales were $1.27 billion in the quarter, which was down from $1.38 billion in the same quarter a year ago. After earning $1.4 billion in the second quarter of 2018, Windstream posted $1.29 billion in total revenue and sales during its second quarter earnings report.
I saw this in my news feed today, and literally laughed out loud.
Name a field or fix a part of network or keep 1 or 2 people's job. Hmmm. Priorities have already been set. It's capital for executives and false narratives of winning company.
I know the optics of something like this is bad at such a time, but I can pretty much go along with something like this. It's not a huge "pro sports" complex, a race car, etc....... It's an intercity/youth complex. Besides hosting the local youth basketball and volleyball teams/leagues, they plan on having multiple "big" regional/state tournaments, as well as their local/regional/state special Olympics at this complex. The city helped fund some of the construction. So a sponsorship like this would, if I took an educated guess, I would say 150k-200k for the total deal.