WRONG!!! (Back at ya!)
From the article:
But a day after Macys executives announced the lay-offs, Cincinnati.com reports that top company officials received a final installment on $1.39 million in performance bonuses from 2004.
-snip -
Half of the incentive was paid in February 2008 with the remaining amount paid Monday."
So, it's STILL their money and the stockholders should already have had the opportunity to approve the bonus plan. The article is playing a wealth envy ploy against mean old corporate executives.
Execs are not going to defer something they TRULY earned for 5 years.
If you believe otherwise, I have a bridge to sell you.
Stockholders have no say...do you think they would stand by and watch companies being driven into bankruptcy if they did? The laws need to changed...real elections of boards.