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Unread April 8th, 2010, 02:45 PM
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Bonuses for the top

http://finance.yahoo.com/news/News-F....html?x=0&.v=1

Rafat Ali, On Thursday April 8, 2010, 3:48 pm EDT
News Flash: Blockbuster Execs Still Got Bonuses, For "Fiscal Leadership"

"That's about the only thing you can say working for Blockbuster (NYSE: BBI - News) now, nevermind those movie studio deals that it closed over the last few weeks. Even Icahn's given up, further cutting his stake, according to an SEC filing earlier today. But, in its proxy filing couple of days ago, the company outlines compensation for its top execs for 2009, and somehow they all manage to eke out some bonuses for the year.

Here are a sample of the phrases used to justify those, despite it being on the brink of bankruptcy: "their contributions to the completion of a $675 million senior secured notes offering during difficult economic conditions"; "led the efforts to complete the offering"; "Because we believe the completion of the notes offering will enhance our liquidity and improve our operating flexibility, we determined that it was appropriate to compensate these named executive officers for their contributions to the transaction"; "awarded in recognition of his leadership in the amendment and extension of our revolving credit facility and cost-cutting efforts"; etc. Note none of these are for actual business development performance, just financial engineering."


Discuss.
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Unread April 8th, 2010, 02:57 PM
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I say string em up by their balls (or ovaries) till all their money falls out, so we can at least get some new shirts.
  #3  
Unread April 8th, 2010, 03:59 PM
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DOn't they burn evil people at the stake?
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  #4  
Unread April 8th, 2010, 04:01 PM
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the reality is that they are trying hard to keep their execs with the company and the only way to get them to stay when times are tough? financial compensation.
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Unread April 8th, 2010, 04:27 PM
Ghost of AtlanticVamp Ghost of AtlanticVamp is offline
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What the flying figgity fuck?

In the words of the sometimes funny Carlos Mencia: "Dee-dee-dee!"
  #6  
Unread April 8th, 2010, 04:48 PM
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Quote:
Originally Posted by BUYMECAR View Post
the reality is that they are trying hard to keep their execs with the company and the only way to get them to stay when times are tough? financial compensation.
I understand that but why not continue the bonus for in stores? Hell make it tougher thats fine, less stores will get those bonuses but the ones that deserve it will get it!
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  #7  
Unread April 8th, 2010, 04:54 PM
TheShooter87 TheShooter87 is offline
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has BBV ever heard of the french revolution?...thats what will happen if they dont give the grunts (self included) something.
  #8  
Unread April 8th, 2010, 04:58 PM
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Did someone say mention slashing off heads, because I'm good at that. Least they could do is a cost of living raise.
  #9  
Unread April 8th, 2010, 06:14 PM
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Quote:
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Did someone say mention slashing off heads, because I'm good at that. Least they could do is a cost of living raise.
BUUZZZZZZZZZZZZZZZZZ!
"Yes, Miss Fessmocker?"
"Sorry to bother you Mr. Keyes, but there's a large man wearing coveralls and a hockey mask who wishes to speak to you about bonuses."
"Tell him I'm busy."
"Ummm... he has a machete, too."
"I said I'm busy. Now let's see, $399,997, $399,998, $399,999, $400,000. Ah yes, my bonus is all there."
THWACK!
Thump.
"Miss Fessmocker, are you there? Miss Fessmocker? What's going on out here? What the... nooooooooooooooooooooo!"
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  #10  
Unread April 8th, 2010, 06:19 PM
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Do you have a copy of the tape, I thought I destroyed those. Keyes goes through so many secretaries that way.
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