AG Objects to Newspaper Bonuses

State Attorney General Tom Corbett is objecting to a newspaper publisher's plans to pay its top executives up to $1.7 million in bonuses although the company has filed for Chapter 11 bankruptcy.

Corbett's court filing says the bonuses amount to an employee retention plan, which is prohibited under federal bankruptcy law.

Journal Register Company is based in Yardley, Pa., and owns the New Haven Register in Connecticut and dozens of other newspapers in several states.

The company filed for bankruptcy protection in February.

Comments

Anonymous said…
Good for Corbett. It's so stupid to reward executives for running a business into the ground.

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