Ridiculous that executives get bonuses right before filing bankruptcy! Bonuses are supposed to be tied to performance. What's worse than bankruptcy? Seems like corporate America rewards failure.
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It’s a retention bonus. Standard for ch11 bankruptcy proceedings
Supposedly it is to retain the "top talent" through the restructuring process. I wonder if they actually think people are going to be pestering them with job offers when their qualifications are that they were top execs at a bankrupt company that snatched the earned performance bonuses away from the rest of the employees so that they could get millions for themselves. Exactly how would that fly with the employees of any company that hired one of them?