If you're an executive at
The top guys at Delphi will take
home up to a combined $38M in additional
bonuses as compensation for helping the supplier lose more than $5B over the past two years and pushing
the supplier into bankruptcy. Needless to say, the creditors committee disagreed with this pay hike, but the judge in
Visteon, a company not in Chapter 11 solely by virtue of its corporate sugardaddy Ford, decided to hand out executive bonuses of 50-130% of base pay, and additionally awarded "long-term incentives" of 120-475%. This is for a company that would have lost over a half-billion dollars last year if not for a transfer of plants and workers to its former owner. Visteon's board of directors approved this compensation, and then voted a 75% pay increase for themselves.
There are no reports of anyone
vomiting in shame while approving any of these pay raises.