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Executive Investigator
Tracking and Analyzing Executive Salaries, Bonuses, and Perks
 Monday, January 28, 2008

Delphi Corporation filed for bankruptcy nearly 27 months ago and unions have been bashing the automaker ever since. The brunt of their concerns were over the company's cash payouts earmarked for executives when it emerged from Chapter 11 bankruptcy. So, when a federal judge said last week that he would OK the bankruptcy plan only if the board agreed to substantially curtail executives' emergence cash payouts, many saw it as a victory for labor unions. The judge ruled that the company was unable to meet their burden and show that the $87 million proposed was a fair and reasonable amount. The executives are now slated to receive only $16.5 million. Many believe that it was the union that is largely responsible for bringing visibility to this issue and forcing the change.

Monday, January 28, 2008 7:01:31 PM UTC  #    Comments [0]  |  Trackback Tracked by:
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