Judge refuses bonuses for executives at bankrupt Sports Authority

Shirking on their fiduciary duty. Not only should they not get bonuses, I would look to claw back their prior compensation for malfeasance.

It's supposed to be an "incentive" to do an even better job than they were already doing. Or excuse B, to keep them from jumping ship to another company.

Both excuses don't pass the smell test.

... aren't they? What "job" is there left for them to be "incentivized" to do?

===================

Rewarding incompetence?

they are the same ones who ran it into the ground in the first place they don't deserve any bonus and courts should hold the executives entire pay back and if they want to get paid at all then then they better work their ass off otherwise they can say hasta la vista to their pay just like their employees that they screwed with their mismanagement.

or that is to say..owned by Bain Capital

That's owned by Mitt Romney

Romney fears public company laws..they take it private

Which most investors never do

SEC laws also are international treaties

is incestuous ( Jack Bush of Sankaty/ Bain was also at Jumbo and JoAnn..that was Bain & Leonard Green)

Unless you somehow give them added incentive to do so?

These people are valuable. What kind of a country do we live in
where we can reward executives for running a company into
the ground?

It's really not an incentive to keep the doors open

I've been through two companies going bankrupt and if it were not for the teamsters and their pension plan, I would have gotten nothing.

On the other hand the people responsible for the bankruptcies all got bonuses when we went out of business

More of this

It would only be better if employees got a chunk of that $2.85 million when the doors closed.

After all they did their jobs when owners and management could not.

1000 frigging employees..double their salary..in our eToys case

So that they would all be pissed off..at me..when I let them go

Romney tried to acquire the assets ( finally did....by fraud)

The plan before I took control..was for BainCap/ Kay Bee to buy eToys for $5.4 million; which I stopped and compelled them to bid tens of millions.

Meanwhile my attorney/ eToys attorney (MNAT com) was also...secretly ...working for Mitt & Goldman Sachs

So they con me to hire a guy (Barry Gold) to take care of suing Sachs that was actually ( secretly) working for Romney and Michael Glazer at Stage Stores

MNAT was eToys attorney and Paul Traub was creditors attorney

Traub was working at Stage Stores for Barry Gold

Paul Traub and Barry Gold were also partners

Barry Gold and Paul Traub were also at Jumbos 1st bankruptcy.

In eToys they pretended to be opponents ( actually lied under oath {confessed})

Even with all them being part of the fraud..we still forced Bain/ KB to bid tens of millions of dollars; which (obviously) pissed off Mitt.

So ...pretending to be adversaries...MNAT asked for permission to destroy eToys Books & Records..and permission to double the salary of every employee (while in bankruptcy)

Walrath approved

One day later...with everyone complaing..( who wouldnt complain about lising double pay)..they locked me out and Barry Gold took over

Even after we found proof and forced them to confess the fraud..Judge Walrath said she didnt care

These are Romney's "retroactive" secrets he could go to jail for

Boy oh boy...do I have bones to pick with her {dis}Honor

which, if violated, gets you thrown in the pokey.

How about that as a motivator along with your already very high salary?

We compelled vonfessions of intentionally lying under oath ...and Walrath said she didn't care.

a large bk can have a ripple effect on other companies that need to make up for goods that were delivered that they will never be paid for.

not really a domino effect but yes a domino effect

small business rule number 17...never put all your eggs in one basket

Trusting courts to do the right thing

Is a fools folly

"The company asked to keep the identities of the executives under seal to "minimize detrimental impacts on employee morale," which prompted an outcry from some of the 14,000 former staffers. "


what complete bullshit!!!!!!!!!

To try to coceal...the dirty deal

Do you have a list of the names?

Authority)

They called it a "Bankruptcy Ring" (Third Cir. case In re Arkansas)..noting that...in reality..lawyers / professionals would seize bankruptcy estates as their own piggy banks at direct detriment of clients and creditors

Groups..down..for a decade plus

PACER locked me out from seeing dockets

When i hired attorney to get me back in...the docket filings began to vanish ( marked "unavailable" or " not found in database"

All involved in 1st Jumbo Sports Bankruptcy

Bain Cap has a rinse..lather...repeat formula of fraud

You wouldn't praise MFW

if you knew MFW as we know MFW