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Robbien (1000+ posts) Send PM | Profile | Ignore | Thu Mar-19-09 10:42 PM Original message |
Circuit City cuts board members and more executives |
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LakeSamish706 (1000+ posts) Send PM | Profile | Ignore | Thu Mar-19-09 10:47 PM Response to Original message |
1. Here we go again huh... WTF is wrong with our country and it's method of doing business? n/t |
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onenote (1000+ posts) Send PM | Profile | Ignore | Fri Mar-20-09 02:59 AM Response to Reply #1 |
6. how would you manage a company that is liquidating and going out of business |
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Deja Q (1000+ posts) Send PM | Profile | Ignore | Sun Mar-22-09 06:04 AM Response to Reply #6 |
9. The mess is bought and paid for by the liquidators, perhaps? |
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closeupready (1000+ posts) Send PM | Profile | Ignore | Sun Mar-22-09 04:01 PM Response to Reply #6 |
16. I know someone who works/worked for them. |
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napi21 (1000+ posts) Send PM | Profile | Ignore | Thu Mar-19-09 10:48 PM Response to Original message |
2. I don't understand the board members either. The controller, yes! |
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onenote (1000+ posts) Send PM | Profile | Ignore | Fri Mar-20-09 03:13 AM Response to Reply #2 |
7. for one thing, the company by-laws and articles may specify a minimum number of directors |
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No Elephants (1000+ posts) Send PM | Profile | Ignore | Sun Mar-22-09 06:32 AM Response to Reply #2 |
10. Boards have to authorize certain actions. Sometimes, it's a requirement of state law. Others, |
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burning rain (1000+ posts) Send PM | Profile | Ignore | Thu Mar-19-09 11:18 PM Response to Original message |
3. What was it, a couple years back... |
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Double T (1000+ posts) Send PM | Profile | Ignore | Thu Mar-19-09 11:23 PM Response to Original message |
4. Must have been ANAL retention bonuses. |
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onenote (1000+ posts) Send PM | Profile | Ignore | Fri Mar-20-09 02:58 AM Response to Original message |
5. Absolutely standard procedure |
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lostnfound (1000+ posts) Send PM | Profile | Ignore | Sun Mar-22-09 03:41 AM Response to Reply #5 |
8. In this economy where are they going to go? |
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Gin (1000+ posts) Send PM | Profile | Ignore | Sun Mar-22-09 09:30 AM Response to Reply #8 |
11. wow...a google search indicates that their outside directors received $60K a year in cash |
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dysfunctional press (1000+ posts) Send PM | Profile | Ignore | Sun Mar-22-09 09:51 AM Response to Reply #11 |
12. that's nothing new, and not even a dirty little secret... |
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mbperrin (1000+ posts) Send PM | Profile | Ignore | Sun Mar-22-09 09:26 PM Response to Reply #5 |
17. There are liquidation firms in the world who work off a commission or percentage |
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Thor_MN (1000+ posts) Send PM | Profile | Ignore | Sun Mar-22-09 10:29 AM Response to Original message |
13. "Retention Bonus" = being rewarded to stick around to clean up the mess you created |
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sarcasmo (1000+ posts) Send PM | Profile | Ignore | Sun Mar-22-09 03:31 PM Response to Original message |
14. Why would a Bankrupt company even worry about Retention? |
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onenote (1000+ posts) Send PM | Profile | Ignore | Sun Mar-22-09 03:50 PM Response to Reply #14 |
15. because a bankrupt company needs staff to wind down its operations |
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