Thursday, April 23, 2009

Tribune Asks Court for $13M in Bonus Money

Tribune Co. has asked the bankruptcy court for permission to award $13 million in bonuses to certain employees, even as more newspaper employees are being shown the door across the country, according to a story in the Chicago Tribune.

About 670 managerial employees are to benefit for doing such a great job of escorting people to their cars, with average payments of $18,000.

Payments are expected to total $12.2 million, while another $1 million in bonuses appears to be up in the air.

Meanwhile, another 70 employees may get about $2.5 million in severance payments that is owed to them, which sounds like a decent move.

The Delaware bankruptcy court is expected to rule on the motions during a May 12 court hearing.

I've been thinking more and more that the real pirates are not in Somalia, but here in the United States running the free (hah!) enterprise system.

Read the full post here:

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