Maybe everyone should get a bonus

Nortel to ask court to approve controversial US$23M bonus plan for executives

Lawyers for Nortel Networks Corp. are to appear in court on Friday to ask for approval of a controversial US$23-million bonus plan for its top executives that the company says is needed to boost falling morale at the company.

Earlier this month, courts in Canada and the United States gave the green light to US$22 million in payments to about 900 key engineers and other professionals at the telecommunications equipment giant, about five per cent of its workforce.

A Nortel spokesman said… “Losing key staff members often affects a company’s ability to operate efficiently and hinders product development.”

So it’s now universal, the more you fail, the more you’re paid– if you’re an executive whether it’s CBC or Nortel.

2 comments:

  1. Anonymous
    Posted March 24, 2009 at 10:44 am | # | Reply to this masterpiece

    Henry Juroviesky of Juroviesky and Ricci LLP and independent financial analyst, Diane Urquhart, are hosting a webinar on Wednesday, March 25, 2009 at 3:00 PM EDT to update you on our plan to accelerate and maximize the recovery of the termination and severance pay owed to Nortel Canadian terminated employees and to facilitate the creation of additional value for the Nortel estate. We will answer questions about our no ‘up-front fee/retainer’™ and clarify any confusion you may have about our legal plan.

    Reserve your Webinar seat now at:
    https://www2.gotomeeting.com/register/585229926

    Please register at least 15 minutes before the scheduled time of the webinar.

  2. Allan
    Posted March 22, 2009 at 12:55 pm | # | Reply to this masterpiece

    Here’s your bonus.


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