Borders Execs To Get Bonuses

(Ann Arbor-WWJ) While Borders Group struggles to emerge from bankruptcy protection, it will be able to pay its top executives large bonuses.

A federal bankruptcy judge in New York has given the Ann Arbor-based bookseller permission to hand out bonuses totaling 6.6 million dollars in an effort to prevent some executives from leaving the company.

The Office of U.S. Trustee objected to an earlier request for eight million dollars in bonuses.

Borders says the incentives are necessary in order to prevent top executives from straying. The company says 47 execs have left since February’s Chapter 11 filing.

Borders is hoping to emerge from bankruptcy protection a leaner, more profitable company by late summer or early fall.

(Copyright 2011 WWJ Newsradio 950. All Rights Reserved. The Associated Press Contributed To This Story.)

Comments

One Comment

  1. dd says:

    They’re paying bonuses to keep the very people who put this company in brankruptcy court. They need to get rid of these people not reward them. What they NEED to do is pay suppliers, without product it doesn’t matter how many execs they have.

  2. JACK says:

    Like these idiots are really worth that much money, money they really dont need , let them leave, IDIOTS, BUNCH OF GREEDY CROOKS…

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Detroit

Best Fall Festivals In Metro DetroitFrom music to art to special events, there's a little something for everyone's delight.
Best 4th Of July Concerts In Metro DetroitStaying home this weekend? Celebrate the 4th of July by rocking out at one of these shows.

Watch & Listen