The rich are different from you and me
The parent company of the Saratogian and Troy Record is in trouble with the Connecticut AG's office because it's trying to give its execs $1.7 million in bonuses -- while the company is in bankruptcy. The AP reports these execs would get the "incentive pay" if they're able to lay off 450 people by the end of March.
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Comments
And this, folks, is why newspapers won't be around in a year.
... said Magnolia on Mar 5, 2009 at 2:58 PM | link
Let me get this straight- those executives will get money if they FIRE people? That's disgusting. How can those people live with themselves. I know I couldn't look myself in the face if I made that decision to let people go.
... said Katherine on Mar 5, 2009 at 3:16 PM | link
Oh my. I could be sick.
... said Summer on Mar 5, 2009 at 4:05 PM | link
Oh, don't feel so bad. If they don't get that $1.7 million, they still have well into the eight figures in their offshore accounts, holding companies, and foriegn savings (all tax-shielded, of course). They'll scrape by somehow.
... said B on Mar 5, 2009 at 4:20 PM | link
In Japan, the executives are ashamed when they run companies into the ground. Maybe we need to bring back hara-kiri?
... said abby on Mar 5, 2009 at 4:30 PM | link
Shameful.
... said Beaver on Mar 5, 2009 at 11:11 PM | link