Tribune Co. asks bankruptcy judge to OK $42.5 million incentive plan

Reuters.com
The bonuses would go to 640 management employees. Under the plan, Tribune will pay $16.4 million if it achieves “threshold” performance of its planned consolidated operating cash flow, $32.4 million for “target” performance and $42.5 million for “maximum” performance. Tribune, which filed for bankruptcy in 2008, says approval of the plan “continues to be critically important to maintain proper incentives for the management team as the company strives to sustain its performance despite the strains of the Chapter 11 process.” || From 2010: Judge approves more than $40 million in Tribune bonuses. || From 2009: Tribune seeks management bonuses totaling up to $66 million.

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  • http://www.facebook.com/jbstrong1 Jim Strong

    The Tribune has a bureaucracy run amok already.  Why reward it and encourage more seat warmers.

  • Anonymous

    Here’s an idea for the judge: Say no. It stops here. If someone wants to leave, go. You’ll likely be broken up by a vulture fund anyway, so why keep you around? Isn’t this the same argument FitzSimons used before the Zell deal?