Please read a filing made on 3-30 called Statement of Financial affairs, it is a long confusing document but as a newly person I have the time. This will make your day. On 5-31-2016 when it was known that we were is deep trouble and they were looking for buyers for Avaya the Executives gave themselves nice retention bonuses as follows:
Dave Vellequette- $1,500,000
Fariborz Ebrahami $ 250,000
Gary Barnett $525,000
James Chirico $2,500,000
Jerry Glembocki $250,000
Kevin Kennedy $ 6,900,000
Lauren Philonenko $250,000
Marc Randall $400,000
Mike Runda $ 400,000
Morag Lucey $250,000
Pierre Paul-Allard $400,000
This my friends is well over $13 million dollars. If you also look there are more lump sum payouts, payment for time off, huge credit card reimbursements,( I thought travel was basically forbidden) and more. Then on 3-1-2017 docket filing #192 asks for another 4 million because they are working so hard getting us out of bankruptcy, talking to customers who knows what else.
Then go on to read the few letters from pensioners asking the Judge to please consider their pensions, which are now stopped,( the supplemental part), and no lump sum payouts.
I am not sure how you feel but does this seem like a money grab before the ship sinks? Like that rich guy on the movie Titanic who stuffed cash into his pockets while the ship was sinking and people were suffering? What are your thoughts?