Quote:
Originally Posted by aklim
Do you think I would sign a contract that gives you all those escape clauses? If not, why would the execs? Think they don't have their own lawyers too?
In the meantime, how much does it cost? Probably more than the 165 million. And then there is going to be ill will which means you have to fire all these execs. Who is going to step up to the plate for all of them? You? Can a company run without all it's execs at the same time? And then, who would go work for that company? If I were an exec and see that happening, no way I would sign on to that company.
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Yeah, I know. My response was pretty simplistic. There is always an escape clause in an insurance contract however. It was their choice to sign the agreement. Just try to sue a bankrupt company. Get in line with the other creditors. No amount of lawyers can squeeze blood from a turnip.
I have no problem with the bonus/retention pay for "performance", however, when you get a 170 million "bail-out" and you pay 165 million in bonuses then I think there MIGHT be a problem. So, out of the money, 5 million goes to solve the "crisis"?
So you'd go to work for a company which has all those financial problems and claim ignorance when the walls came crashing down?
03-15-2009, 09:13 AM
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