"Profits."
In a company that's declared bankruptcy (TWICE!), mind you. ;)
Yep. What profits?
They were offered 25% stake in the company for a short-term 8% pay cut. They decided that Obama-Phones, food stamps and Section 8 were a better deal.
“In a company that’s declared bankruptcy (TWICE!), mind you. ;)”
I wonder what the compensation was for the execs.
I seem to recall that in the last 15 years lots of corporations were driven into the ground by execs who then bailed out with their own private golden parachutes.
If that’s the case here then I find it hard to care if they went under.
I don’t know any details so this may not be like that, but if it were the execs padding their own pockets while asking the workers to take a paycut then I think the stikers were justified.