Reply #37: Kicked and recommeded! This belongs on the front page! [View All]

[Dr.Phool]

They aren't getting raises, but the execs are getting HUGE retention bonuses!

http://money.cnn.com/2005/10/10/news/fortune500/delphi_bonuses.reut/

(snip)
Under its proposed key employee compensation program, 486 U.S. executives would receive cash bonuses of 30 percent to 250 percent of their salary, totaling $87.9 million, upon Delphi's exit from bankruptcy or sale of the company.

For example, President Rodney O'Neal would get a total cash bonus of $2.75 million, based on a $1.15 million average salary. Some 464 executives could earn bonuses ranging from $50,000 to $475,000, based on salaries of $120,000 to $450,000.

Delphi proposes allocating a 10 percent stake in the restructured company among Delphi's 595 domestic and foreign executives, though it would not be granted if all or most of Delphi's assets are sold in the process.
(snip)

This is absolutely criminal!!!

And not mentioned, but you can bet that their pensions were put into a trust fund, thats untouchable by bankruptcy courts.