Bankrupt Toys R Us sets aside $16 million for executive bonuses

[Puffnstuff]

They won approval from the bankruptcy court to pay $16 million out to 17 executives. Merry Christmas gent as this averages out to just over $941k each and since these kinds of bonuses are tiered you know that somebody is going to hit the jackpot and someone will get the crumbs.

http://money.cnn.com/2017/12/06/news/companies/toys-r-us-executive-bonuses/index.html

 

[shortylickens]

I was about to go up there and buy a bunch of junk for the donation box. But they clearly dont need my business.

 

[Puffnstuff]

I was about to go up there and buy a bunch of junk for the donation box. But they clearly dont need my business.

This happens with every company that files for BK yet an individual can only keep 6k worth of assets.

 

[shortylickens]

This happens with every company that files for BK yet an individual can only keep 6k worth of assets.

So how did Trump keep all his billions each of the 5 times he filed bankruptcy?

 

[Puffnstuff]

So how did Trump keep all his billions each of the 5 times he filed bankruptcy?

Seems it had something to do with Deutsche Bank but we'll have to wait for Mueller's report to be sure.

 

[zinfamous]

So how did Trump keep all his billions each of the 5 times he filed bankruptcy?

it wasn't his money that he was borrowing, duh.

 

[boomerang]

So how did Trump keep all his billions each of the 5 times he filed bankruptcy?

So you think he filed personal bankruptcy? If so, did you read that somewhere or did you make an assumption?

Oh, and there's this.

Puerto Rico gives out $100 million in bonuses after pleading for $94 billion in hurricane relief

 

[Puffnstuff]

The business structure determines where the liability lies which is why I'd never be a sole proprietor..

 

[BoomerD]

The riches gonna take care of the riches...while stomping on the rights and jobs of the poors.

 

[Zaap]

Seems like pretty rotten timing just before Christmas. No wonder Toys R Us is in bankruptcy. They don't seem too bright.

I mean, I understand hoping to have an excellent Christmas season and make as much as possible when they are in financial dire straights and can sure use it...

...but their whole strategy of this reeks of retention bonuses to help them achieve that, not something they had to do right at this time.

Such a shame- my kids love Toys R Us. But I fear their clueless upper management will run the damn thing in the ground before they get to grow up with it.

Honestly... toys seem to me like one of the most cool and fun products you could run a big business around selling. TRS has been around almost 70 years. There are more kids and markets to sell to now than ever before.

HOW do you fuck that up????

 

[1prophet]

The riches gonna take care of the riches...while stomping on the rights and jobs of the poors.

For now

 

[cytg111]

Those poor millionaires. Give em a taxbreak.

 

[ivwshane]

How are they going to trickle down if they don't get their bonuses?

 

[shortylickens]

So you think he filed personal bankruptcy? If so, did you read that somewhere or did you make an assumption?

Oh, and there's this.

Puerto Rico gives out $100 million in bonuses after pleading for $94 billion in hurricane relief

Can you do math?
Do you realize what 100/94,000 is?

 

[darkswordsman17]

So you think he filed personal bankruptcy? If so, did you read that somewhere or did you make an assumption?

Oh, and there's this.

Puerto Rico gives out $100 million in bonuses after pleading for $94 billion in hurricane relief

Yep, totally the same situation. Hmm, maybe not? Just gonna put this here...

This year the payments will total $113 million, the government told Bloomberg News. Some 250,000 people get bonuses, with current workers averaging $600 bonus and retirees getting about $200, Bloomberg reported.

But yes, an island ravaged by a powerful hurricane, where a quarter million people got about half a grand in bonus, totally the same as Toys 'R Us giving $16 million to 17 people.

 

[Puffnstuff]

How are they going to trickle down if they don't get their bonuses?

Don't you worry yourself none over the trickle down. No sirree, once they unzip their flies we'll all get some trickle down.

 

[cytg111]

Don't you worry yourself none over the trickle down. No sirree, once they unzip their flies we'll all get some trickle down.

trickle down and the right to suck this c... err right to work! The working man is surely getting the mother load from his corporate overlords

 

[ch33zw1z]

bankruptcy schmankruptcy, give those execs more money, i know if i fuck up my job, theres a fat bonus waiting as well.

 

[sandorski]

We're out of business! Good work everyone!!

 

[sportage]

Yeah, don't worry yourself.
Your trickle down check is in the mail. Or so I'm told.
But, you will be billed for the stamp.

 

[Thebobo]

Fuck up and move up is the motto we have at work.

 

[Puffnstuff]

Executive compensation is just the formal name for transfer of wealth to the wealthy.

 

[bshole]

LoL.... this is nothing but a big fuck you to the creditors. The Toys R Us business model is completely dead. Liquidate

Yep, totally the same situation. Hmm, maybe not? Just gonna put this here...

But yes, an island ravaged by a powerful hurricane, where a quarter million people got about half a grand in bonus, totally the same as Toys 'R Us giving $16 million to 17 people.

You don't get it do you. Those are middle class folk living paycheck to paychekc..... you know..... the people who conservatives don't give a shit about. The Toys'R'Us payouts are to the 1%ers, the job creators. As you know conservatives are very interested in their well-being, even when they are complete failures and attempting to loot the company one last time before dismemberment. It is important to overpay wealthy failures as an incentive to the lazy and worthless middle class. In other words, he is completely consistent with conservative thinking and his post was exactly what I would have expected from him.

 

[bshole]

bankruptcy schmankruptcy, give those execs more money, i know if i fuck up my job, theres a fat bonus waiting as well.

They tend to get the gold parachute and we get the gold shower....

 

[Puffnstuff]

The Toys R Us business model is completely dead. Liquidate

It wouldn't surprise me if they dropped back to online only like Tiger Direct before they completely go out of business. Its so much easier to sit at a desk shopping online than to go into a store unless you live close to it.

They tend to get the gold parachute and we get the gold shower....

You know they have platinum parachutes that are a step above gold for the most worthy managers. When I studied executive compensation I couldn't believe the disparity between them and the staff.

IBM for example has 3 levels of human resources for their employees the top of which is executives only. That group handles all executive matters from compensation and benefits to assignments and professional development to attract and retain the best talent.

Republican ideology, laissez-faire, was responsible for the industrial revolution in this country as business owners wanted to work people to death for very little pay and benefits while they enjoyed unprecedented prosperity. Today the pay disparity between workers and executives is at the widest margin in history and will continue to grow as greedy people control it.