Do we have any indication if this was a policy before declaring bankruptcy and if so what was the compensation then?
Essentially, this is just a variation on the theme of what American Airlines tried to do after obtaining concessions from its unions that ended up costing the CEO his job...this time it's executed with stock options and under the auspices of a bankruptcy judge.
I'm glad to see all our freemarketeers - with the exception of our one animal farm poster who seems to get it - chime in with such utter disregard for shareholder's wellbeing.