 tshirtPremium,MVM
join:2004-07-11
Snohomish, WA
kudos:3
 ·Comcast
| This is not unusual or even a bad thing The same reason a few at the top large salaries, is because they will be in a position where they may do things which prevents them from ever working as an executive again.
Once hired you don't want him worring about his next job, or mortgage payment, or anything personal, you want him to be doing and thinking COMPANY FIRST 24/7/365 if needed.
and in this case the exec's were given mission impossible, not really their fault it failed, and the last think you want is for them to bailout right now, leaving no experienced (with the particulars of this company) and known (to the banks, partners and creditors) people in charge. That would be a sure path to even greater losses total liquidation. plus $6 million is cheaper than you could find someone new and qualified to step in for the next few months/year it will take to reorganize/sell of what the need to.
even shuttering a business, it takes careful planning to preserve the most assets (and LS does have substancial non-cash assets)
So the big bonus keeps the people you need there even though career wise they would like to take the next decent offer they get, or even just get out and run away fast! |
