My question in each of these cases is why do the courts allow any of these companies to hold onto piles of money and then funnel it to CEOs INSTEAD of forcing them to pay all the low end employees FIRST! After all, they were the ones on the front lines day to day working hard!
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They probably pay the courts first too.
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Usually, the bonuses are contractually obligated to the executives for meeting financial benchmarks that aren't tired to the long term success of the company. Severance is typically not contractually obligated. The problem here is a system that prioritizes short term gains.
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But employees contracts, leave pay and any salary owed, seems to be completely wiped out with the simple word, "bankrupt".
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As far as I can tell, employees were paid the salaries/wages they were owed. They just weren't paid severance. Most employees contracts explicitly state that they can be terminated any time for any reason without severance. This is something that laborer laws could...
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... change but then people keep voting for Republicans who fundamentally don't believe in regulation. Unions could change it to but hey that's socialism.

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Unions have been decimated by said Republicans starting with St. Reagan. This was done because back in the day the unions were the Democrats most strongest ardent supporters/donors. Without their strong support they have had to run to health insurance, drug, & dirty energy, etc.
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The 1% never lose.
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When you make the rules, it's hard to lose the game.
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Yep.. so if giving free money to the rich (taxcuts) is suppose to make poor ppl better off and strengthen the economy (which it dont) Than why not eliminate the middle man (rich ppl) and just give the money to the poor it’ll surely strengthen the economy
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Because too many people THINK they'll be the rich getting the tax cuts one day, and poor people don't have enough money to pay the politicians. Also, politicians are almost always the rich benefitting directly from tax policy.
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Yep.. as u previously stated .. we elect ppl to work for us, and they end up working for special interest groups who pay them off to pass laws that benefit them.. its an endless circle of unfair distribution of wealth and “lil guy” gets screwed

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We need people to take @Ocasio2018 as an example. Run face first into opposition of a political machine and kick their ass. Real people running to help the 99% because the 1% don't need help. Genuine human empathy will always, eventually win. Unrig the game. Write new rules.
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Agreed..
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Corporate America. Give us a chance and we’ll shit all over you.
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The Court needs those execs to stay in place to see the company is reorganized or wound down according to the Court's orders. Administrative costs are paid before creditors. Other employees that stay on get paid wages for their new hours, but not retention incentive.
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But you can see how unseemly this sort of thing is. Workers get screwed, managers get rewarded for failure. THIS is one reason why we are where we are politically.
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It's a question of the publicity it is given. The Bankruptcy Code has been the same since 1978. The emphasis is on allowing businesses to reorganize for the future over past indebtedness. Even secured creditors can wind up getting "crammed down".
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I understand that. There’s just something ugly about paying “bonuses” to execs of failed companies, even if it is to wind the company down.
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That's very true. Workers' benefits should be paid for as they accrue and set aside in trust, beyond the reach of a Debtor in bankruptcy or its creditors.
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