http://www.kccllc.net/windstream/document/1922312190423000000000022
4 replies (most recent on top)
Saw this coming. That $5M and the breakdown of which managers get it and how much will be a highly kept secret. At a previous job, during a bankruptcy reorg, one of the lawyers left “the list” on his fax machine and a third shift NOC tech found it. Some of the most vocal “this stinks and I’m just as upset as you” managers were some of the ones getting the most. Saw a lot of new cars in the parking lot towards the very end. VERY IMPORTANT NOTE: Ask yourself why are they getting soooo much to stick around? I mean, if the company isn’t going anywhere why would you need to bribe someone to stay? Yup, it’s because these folks who have signed NDA’s in order to get this payout know that they will need to find another job at the end. They will need extra cash to get by or relocate until they find work. Spoiler alert- no more Windstream. The banks are ok with this investment because it lessons the risk to the repayment of creditors
I see there is $5M set aside for certain "non-insiders" to be paid out at the insider's discretion. I guess that's how they plan to pay off the non performing directors.
wait, so they are going to pay the ceo and execs more money to stay ?
Also:
http://www.kccllc.net/windstream/document/1922312190423000000000023