Failing Firms Paid $165 Million in Bonuses Ahead of Bankruptcy

Bonuses handed out to executives just before their companies go bankrupt need tighter scrutiny because current laws aimed at curbing ...

Failing Firms Paid $165 Million in Bonuses Ahead of Bankruptcy · GAO urges tighter scrutiny to curb executive retention pay · Cash given upfront ...

Bankrupt companies gave $165 million in bonuses to top execs ...

Each company gave its top executives a pay bonus last year just before declaring Chapter 11 bankruptcy. So did Neiman Marcus, as well as oil ...

Corporate Executives & Bonuses on the Eve of Bankruptcy

Lately, it has become standard practice for many corporations to pay executive bonuses within weeks or even days before a Chapter 11 filing.

Burchett, Bustos introduce bipartisan legislation to end abusive ...

The report also found that in just FY 2020, right before filing bankruptcy, 42 companies awarded 223 executives approximately $165 million in ...

Executives' pre-bankruptcy bonuses stir outrage, little action in ...

The bonuses, totaling some $165 million, ranged from five months to two days before a bankruptcy filing. ... paid more than $7 million in bonuses ...

Yellow paid executives $4.6 million in bonuses for bankruptcy wind ...

So-called retention bonuses are common in major restructurings, as they incentivize employees to stick around and help clean up failed firms.

Top execs received $165M before bankruptcy filings last year: GAO

Only 70 companies requested approval to pay employee bonuses, the GAO found, all of which were approved. Debtors awarded a total of $571 million ...

Bankruptcy bonuses for top executives are in trouble, if this ... - Reuters

Bonuses for executives of bankrupt companies have been commonplace for many years now, occurring either during a bankruptcy or shortly ...

Executives Get Big Time Bonuses Before Companies File For ...

If your company is having financial problems, it may be thinking of bankruptcy. That may include Chapter 11 bankruptcy, which gives your ...

Trucker Yellow Paid Executives Millions Just Before Bankruptcy

So-called retention bonuses are common in major restructurings, as they incentivize employees to stick around and help clean up failed firms.

GAO-21-104617, BANKRUPTCY - Government Accountability Office

executive retention bonuses paid before a bankruptcy filing (pre-bankruptcy ... identify companies that awarded employee bonuses shortly before.

Big-buck bankruptcy bonuses need reining in, government ...

Forty-two struggling companies paid top executives a total of $165M before sinking into Chapter 11 last year.

Pre-Bankruptcy Bonuses - QuickRead | News for the Financial ...

In 2020 alone, approximately 7,300 companies filed for Chapter 11 bankruptcy. Of those corporate debtors, 42 were found to have awarded ...

Bankrupt retail chain's CEO pay package threatens its future

Cheese, didn't need to request retention bonuses after filing bankruptcy, since they had already awarded retention bonuses shortly before filing ...

On eve of bankruptcy, U.S. firms shower execs with bonuses - Reuters

Under a 2005 bankruptcy law, companies are banned, with few exceptions, from paying executives retention bonuses while in bankruptcy. But the ...

Archive: Rep. Cheri Bustos on X: "Bankrupt companies paying ...

Failing Firms Paid $165 Million in Bonuses Ahead of Bankruptcy. Bonuses handed out to executives just before their companies go bankrupt need tighter ...

GAO-21-104617, Accessible Version, BANKRUPTCY

... bonuses paid before a bankruptcy filing (pre-bankruptcy ... Bonuses before bankruptcy: Companies doled out millions to executives before filing.

Geithner, Bernanke Testify Amid Bid to Calm Furor Over AIG | PBS ...

Word that AIG company paid more than $165 million in bonuses to executives sparked a public outcry, and prompted 15 AIG employees to agree to return their ...

Do We Have to Pay the A.I.G. Bonuses? - The New York Times

It sure does sting. A staggering $165 million — for employees of a company that nearly took down the financial system. And heck, we, the taxpayers, own nearly ...