Article

2018-12-16 Economy

Sears gets approval to pay $25.3 million in bonuses to top execs after filing for bankruptcy

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Posted by Besoeker 2018-12-16 00:00|| || Front Page|| [12 views ] Top

#1 Can't put my finger on it, but something about this action just doesn't make sense.

Posted by Besoeker 2018-12-16 00:22|| 2018-12-16 00:22|| Front Page Top

#2 How these people can look at themselves in the mirror and think they deserve it is beyond me.

Reminds me of United Airlines execs who got nice pay raises after their own employees took pay cuts to "save the company".

Posted by Clem 2018-12-16 00:29|| 2018-12-16 00:29|| Front Page Top

#3 Rent seeking at its finest.

Posted by Anguper Hupomosing9418 2018-12-16 01:23|| 2018-12-16 01:23|| Front Page Top

#4 The company’s proposal will reportedly offer bonuses to 19 executives amounting to up to $8.4 million over the next six months if the company is successful in hitting certain financial goals.

...or not. Did they list the goals in the filing so the administrator can determine whether or not it was 1) rigorous enough to justify and 2) actually met?

Posted by Procopius2k 2018-12-16 07:49|| 2018-12-16 07:49|| Front Page Top

#5 I'm sure their creditors are overjoyed too hear this news.

Posted by chris 2018-12-16 09:59|| 2018-12-16 09:59|| Front Page Top

#6 Time to make the corporate officers have some skin in the game.

Posted by Injun Bucket8891 2018-12-16 13:35|| 2018-12-16 13:35|| Front Page Top

#7 If the bonuses are in stock options in 5 years time then ok.

Posted by Bright Pebbles 2018-12-16 17:58|| 2018-12-16 17:58|| Front Page Top

#8 Extortion most foul.

Notice the filing date - just at the wind-up to the Christmas shopping season.

And soon enough, I'm certain, we'll be able to buy "Craftsman" at Big Lots.

Posted by Anomalous Sources 2018-12-16 21:39|| 2018-12-16 21:39|| Front Page Top

23:23 Dale
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17:08 The peanut gallery