We were wondering what all those popping noises were this morning: They’re the sounds of LAT staffer’s heads exploding.
From Broadcast Union News:
While the numbed survivors of Sam Zell‘s ill advised Tribune take over struggle with higher health care premiums, loss of pensions, reduced pay and work hours, those overseeing this wreckage have told the bankruptcy judge that if they don’t get more executive compensation, things will get really bad.
“Incentivizing employees is essential to Tribune’s future success,” Tribune’s chief operating officer and its chief administrative officer wrote this month to a federal bankruptcy judge, seeking the court’s approval of a plan to pay up to $69.9 million in management bonuses. “We must continue motivating our people to overcome obstacles, achieve our performance goals and take the company to the next level,” they explained.
The objection was filed in U.S. Bankruptcy Court in Delaware on Tuesday, according to a copy of the motion.