Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Ahda who wrote (29413)	11/12/2001 2:51:31 PM
From: hdl	Respond to of 29970

there were two different articles re bankruptcy in the wsj on two successive days. on 10/31/01 on c1 was an article re giving retention bonuses and deal bonuses and severance payments to executives of chapter 11 debtors. they make a fortune as execs of successful companies do. they make still more in chapter 11 as the companies are deteriorating fast and there is no time to find a replacement. fortgang thinks this is wrong. he had bonuses of execs cut. on 11/1/01 on b1 there is an article re bankruptcy lawyers seeking big bonuses. fortgang only makes $700/hour. he wants a bonus in finova so he'll get $3,500/hour because buffett bought finova. his firm had made a deal that provided for a bonus. now there is an objection to that deal as warren came to the rescue. in united companies financial weil gotschal would have only gotten $6.26 million if they hadn't received a million dollar bonus.