Journal Register files for bankruptcy

You knew it was inevitable:

http://www.philly.com/philly/hp/news_update/20090221_Journal_Register_files_for_bankruptcy.html

Under a proposal filed as part of the bankruptcy case, the company has asked for permission to pay as much as $1.7 million in bonuses to 30 top officers and key employees, should the Journal Register meet certain reorganization goals, including closing more papers and eliminating more employees. Those officers have already been paid $450,000 for a previous round of cuts, according to court papers.

 

Re: Journal Register files for bankrupcy

The sound you're hearing: Laughter from hell.

 

Yep, give those bonuses to the people cutting the shit out of the company, which is why it's in the mess it's in.

Unbelievable. Then again, it's not.

 

Shouldn't there be something written into bankruptcy laws that forbid the executives from getting their bonuses while under Chapter 11 protection?

Oh, wait, what am I thinking? Those wealthy executives are the ones who donate to the politicians who write and approve/reject those laws. Why would the politicians bite the hands that feed them? : :

 

Suburbia, unfortunately, you are correct. I couldn't have said it any better myself.

 

No words can describe this issue. My god.

 

Yes, there are. Please choose from the following:

• shit,
• piss,
• fuck,
• c u n t,
• cocksucker,
• motherfucker and
• tits.

Some seem more applicable than others.

 

They get bonuses for cutting people? Goddamn, am I glad as hell I got out of that organization.

 

In related news, the company's CEO has a plan for reorganization.....more work thrust on his employees, less pay and every article is put on the internet for free.

But, hey, they'll hire 50 more ad reps, so it all balances out!

 

Goodbye JRC. From hell's heart, I stab at thee.

 

How in the world can these execs possibly rationalize profiting in such a manner? I know all about moral decay, but this goes too far.