THIS IS HOW IT WORKS?

The parent company of the New Haven Register has filed for bankruptcy(Say hello to the Tribune Company, which owns the Courant.)  

But even in bankruptcy, the bosses get bonuses for making people’s lives a living hell?

Under a proposal filed as part of the bankruptcy case, the company has asked for permission to pay as much as $1.7 million in bonuses to 30 top officers and key employees, should the Journal Register meet certain reorganization goals, including closing more papers and firing more employees. Those officers have already been paid $450,000 for a previous round of cuts, according to court papers.   (Bloomberg)

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About Gerry

I've been covering Connecticut news and sports since 1974. I know, I don't look that old.
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3 Responses to THIS IS HOW IT WORKS?

  1. tbone says:

    maybe jim calhoun can donate some of his money, oops bad idea…let’s continue to overpay a college coach and then ask the unions to reopen their contracts because i mean $15 an hour is outrageous !!! poor jim…maybe we can have a telethon for him or something….

  2. As my employer (Los Angeles Times) prepares to kick 300 employees to the curb through layoffs, the bankruptcy judge overseeing the Tribune Company case has approved $8.8 million in bonuses for non-executive employees. The timing of the bonuses is in rather poor taste

  3. Cheryl says:

    This is EXACTLY what is wrong with America right now; that sense of entitlement no matter what is going on in the “real world”!! Maybe they’ll “get it” when someone gets a raise/bonus for eliminating THEIR job! Or maybe it will require putting all the “little people” they manage out of work. Wonder how long they’ll have a job if there is no one left to cut but themselves?

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