Breaking! Bankruptcy Judge Rewards Delphi Execs For Being Bankrupt


Somehow we don't think this is going to make things any easier during union negotiations. A federal bankruptcy court approved today a multi-million dollar bonus plan for Delphi senior executives. That's right — the court decided 467 executives of a bankrupt auto supplier needed bonuses — as long as they acheive earnings targets in the second half of the year. This is after they approved similar bonueses for the same executives for hitting performance goals in the first half of this year. Those bonuses were estimated at around $38 million. So — two questions. Is keeping your job when you've sent your company down the crapper no longer the incentive folks need, and where' the similar bonus plan for the blue-collar workers? Oh wait, Delphi's cut most of those jobs. By the way — anyone want to send us a copy of that list of 467 execs — just send it over to tips@jalopnik.com.

Court approves bonuses for Delphi execs [Detroit News]

Related:
Delphi to Court: Let Us Eat Cake! [internal]