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Circuit City Wants Executive Incentives

February 11, 2009 By Stephen Silver
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Circuit City is seeking to give incentives to executives and other remaining employees to entice them to stay with the company through its last days, the Associated Press reported Tuesday.

The bankrupt retail chain plans to ask a U.S. Bankruptcy Court judge for permission to offer the incentives to 154 employees. Under its plan, which the AP cited from public filings, the company would pay as much as $2.3 million to 16 top executives, and $1.6 million to the remaining employees. Both figures are contingent on certain "target tasks" are reached.

The chain's liquidation sales are expected to last until late March.
 

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COMMENTS

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Most Recent Comments:
liar marcum - Posted on February 13, 2009
Are you kidding me!Give 2.6 million to the sixteen people.These clowns just slimmed out of paying COBRA to all the employees they screwed over the last year and the bankruptcy judge with no conciense who put everyone out of work is allowing this.They screwed the store managers who broke their collective backs out of the tenure bonus that they earned and now many employees aren't even being paid!Does anyone watch what these big poobahs of business are doing,and how they pay off lawyers and judges to get paid before the people who do all the work,despite the fact that these same people destroyed a viable company.Damn all you corporate bigwigs to hell.
rich - Posted on February 11, 2009
idiots. giving us crappy savings and expecting taxpayers to forkover money for their bonuses. what happened to going down with a failed company. and 2.3 mill for 16 people who don't need it vs. 1.6 mill for thousands who probably do need it badly.
Phil Soonover - Posted on February 10, 2009
That is great for the "execs" that ruined the company in the first place. Why would the company incent these losers to stay longer. What should occur? The so called execs should give back their salaries and bonuses. That money should be distributed to store level personnel that busted their collective butts during the holiday season and prior.
Even better, give the money to the bankruptsy judge that put 35,000 people out of work. Oh, he already received his incentive $'s from the banks that sunk CC.
Great job to all of you, keep milking the cow.
Click here to view archived comments...
Archived Comments:
liar marcum - Posted on February 13, 2009
Are you kidding me!Give 2.6 million to the sixteen people.These clowns just slimmed out of paying COBRA to all the employees they screwed over the last year and the bankruptcy judge with no conciense who put everyone out of work is allowing this.They screwed the store managers who broke their collective backs out of the tenure bonus that they earned and now many employees aren't even being paid!Does anyone watch what these big poobahs of business are doing,and how they pay off lawyers and judges to get paid before the people who do all the work,despite the fact that these same people destroyed a viable company.Damn all you corporate bigwigs to hell.
rich - Posted on February 11, 2009
idiots. giving us crappy savings and expecting taxpayers to forkover money for their bonuses. what happened to going down with a failed company. and 2.3 mill for 16 people who don't need it vs. 1.6 mill for thousands who probably do need it badly.
Phil Soonover - Posted on February 10, 2009
That is great for the "execs" that ruined the company in the first place. Why would the company incent these losers to stay longer. What should occur? The so called execs should give back their salaries and bonuses. That money should be distributed to store level personnel that busted their collective butts during the holiday season and prior.
Even better, give the money to the bankruptsy judge that put 35,000 people out of work. Oh, he already received his incentive $'s from the banks that sunk CC.
Great job to all of you, keep milking the cow.