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Politics : Mainstream Politics and Economics

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Jorj X Mckie

To: Broken_Clock who wrote (50077)	8/2/2013 6:46:15 PM
From: i-node	1 Recommendation Read Replies (2) of 85487

When a company goes into Chapter 11, it is appropriate for a CEO to be compensated better. You don't want a lousy CEO taking a company through Chapter 11, and there is no promise of a job when it comes out the other side. While it doesn't always happen, it is not unusual, and it makes sense. In my experience, CEOs taking a company through Chapter 11 work long hours, there is no guarantee of an employment contract and your job can go away at any moment. Why would a first-rate CEO -- which is what you want -- commit himself under those circumstances? The only real reason is if there is an up-front commitment of money. Duh.

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