Tribune CEOs seek $70 Million in Bonuses as Company Sinks
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It’s not like we needed one more example of greedy corporate executives at a bankrupt company making a grab for big bonuses while axing hundreds of employees and freezing wages for many others.
But that’s what Tribune Co. executives are doing as the multimedia conglomerate sinks under the weight of $13 billion in debt incurred by its corporate leaders in 2007. And they want to keep the bonuses a big secret.
The company filed for Chapter 11 protection last December and, in its most recent action, is seeking court permission to dole out nearly $70 million in executive bonuses. The company also requested the court seal much of the request. The request was denied.
The Newspaper Guild-CWA and the Teamsters, which represent employees at the Tribune-owned Baltimore Sun and WPIX-TV in New York, has asked the U.S. Bankruptcy Court in Delaware to block the company’s plan to pay up to $69.9 million in executive bonus this year, including $20.6 million to the 10 top managers (about $2 million each). Some 700 other managers would share in the bonus booty.
Report: Security Screening Process Flawed, Leaves Dockworkers Jobless
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Thousands of longshore workers, truck drivers and other workers at ports across the nation are out of work, not because of a staggering economy, but because they are caught up in a backlogged, inefficient and often inaccurate screening process for background security checks.
According to a new report from the National Employment Law Project (NELP), the federal Transportation Security Administration’s (TSA’s) post-Sept. 11 port worker background checks have put thousands of otherwise qualified and experienced port workers on the streets instead of the docks until they gain their security clearance.
Most of the workers caught in this bureaucratic limbo are members of the International Longshore and Warehouse Union (ILWU), Longshoremen (ILA) and Teamsters (IBT).
30,000 Workers at AT&T Reject Company’s Final Offer, and More Bargaining News
Some 30,000 workers at AT&T reject what company is calling it’s final offer, and more updates from the “Bargaining Digest Weekly.” The AFL-CIO Collective Bargaining Department delivers daily, bargaining-related news and research resources to more than 900 subscribers. Union leaders can register for this service through our website, Bargaining@Work.
WORK STOPPAGES AND JOB ACTIONS
CWA, AT&T: Some 30,000 AT&T workers in five states, represented by the Communications Workers of America (CWA), have rejected what the company declared to be its ”best and final” offer to resolve a nearly three-month contract dispute. Union leaders repeatedly have said they are optimistic a deal can be reached before workers walk off the job.
