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

[boomerang]

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.

Did you purposefully forget to mention that Puerto Rico was bankrupt prior to the hurricane?

Toys R Us bankrupt - check.
Puerto Rico bankrupt - check.

Both giving bonuses - check.

Government and business operate in similar fashions which in this case shakes out to taking care of their own first and foremost. But I get it, the left hates business and loves government. Can't get enough government. Yum, yum, yum.

The math lessons were comical though. Just not in a good way.

 

[brandonbull]

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

They could give it all to the government and then let the bureaucrats trickle it down.

 

[hal2kilo]

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

Hey hows that whatsaboutism doing for you.

 

[ivwshane]

They could give it all to the government and then let the bureaucrats trickle it down.

You mean the Republican controlled government? Yeah, they are trickle down masters! They've been pissing on you for decades and you still support them unconditionally.

 

[Pulsar]

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

No doubt hoping folks skim past the fact that it's MILLION versus BILLION. I love this game.

 

[bshole]

Government and business operate in similar fashions which in this case shakes out to taking care of their own first and foremost. But I get it, the left hates business and loves government. Can't get enough government. Yum, yum, yum.

The math lessons were comical though. Just not in a good way.

We get it. The thought of a middle class government worker pisses you off. In your ideal world, they would be starving to death along with the rest of us wage slaves and all of the wealth would reside solely with the job creators. You do a wonderful job of expressing your hatred for the middle and working classes. However, you do a rather poor job of explaining WHY you hate the middle class and working classes. It would be nice if you could explain that hatred here so we can understand it.

 

[Homerboy]

The bonuses will trickle down. Don't worry!

 

[dank69]

Phew. I was worried they wouldn't be able to get their teenagers new Ferraris for Christmas this year.

 

[darkswordsman17]

Did you purposefully forget to mention that Puerto Rico was bankrupt prior to the hurricane?

Toys R Us bankrupt - check.
Puerto Rico bankrupt - check.

Both giving bonuses - check.

Government and business operate in similar fashions which in this case shakes out to taking care of their own first and foremost. But I get it, the left hates business and loves government. Can't get enough government. Yum, yum, yum.

The math lessons were comical though. Just not in a good way.

Did you purposefully not read the article you linked? The board (overseeing their finances as they try to figure out what to do, because Congress finally put them in a completely untenable position) ok'ed the bonuses and even went out of their way to say they deserved them, just that this looks bad while they're waiting billions in aid to rebuild.

The reality is, it doesn't even matter. These people need the money, and the rest of the country needs more. The Toys 'R Us execs don't need the money (they're by and large probably already multi-millionaires several times over, including probably hundreds of millions from Toys 'R Us itself). That situation is more like if Congress decides that Puerto Rico's aid package should go to the corporations/banks that fucked them over instead of to rebuilding the island. If Toys 'R Us was distributing that $16 million to their workers, that is much more like what the PR bonuses are.

Actually read up on what led to Puerto Rico's financial problems and how they've been deliberately prevented from going through bankruptcy by Congress at the behest of the banks that wanted to set Puerto Rico up as a tax haven (which then fell through, and then after the banks also caused the meltdown about 10 years ago which further screwed PR over and they haven't been able to recover because Congress denied them aid packages and also cut off the previous aid that was what attracted the banks and corporations that ended up just raiding the island; stuff like Congress specifically denying them aid for stuff like medicaid and medicare).

If you took that as a math lesson then wow... Granted, based on your shit logic that you've trotted out so regularly, I'm not surprised that you view anything with numbers as "math lessons" since basic math is something you and the Republicans seem to struggle with, let alone anything involving logic even at the basic level.

 

[boomerang]

Did you purposefully not read the article you linked? The board (overseeing their finances as they try to figure out what to do, because Congress finally put them in a completely untenable position) ok'ed the bonuses and even went out of their way to say they deserved them, just that this looks bad while they're waiting billions in aid to rebuild.

The reality is, it doesn't even matter. These people need the money, and the rest of the country needs more. The Toys 'R Us execs don't need the money (they're by and large probably already multi-millionaires several times over, including probably hundreds of millions from Toys 'R Us itself). That situation is more like if Congress decides that Puerto Rico's aid package should go to the corporations/banks that fucked them over instead of to rebuilding the island. If Toys 'R Us was distributing that $16 million to their workers, that is much more like what the PR bonuses are.

Actually read up on what led to Puerto Rico's financial problems and how they've been deliberately prevented from going through bankruptcy by Congress at the behest of the banks that wanted to set Puerto Rico up as a tax haven (which then fell through, and then after the banks also caused the meltdown about 10 years ago which further screwed PR over and they haven't been able to recover because Congress denied them aid packages and also cut off the previous aid that was what attracted the banks and corporations that ended up just raiding the island; stuff like Congress specifically denying them aid for stuff like medicaid and medicare).

If you took that as a math lesson then wow... Granted, based on your shit logic that you've trotted out so regularly, I'm not surprised that you view anything with numbers as "math lessons" since basic math is something you and the Republicans seem to struggle with, let alone anything involving logic even at the basic level.

It seems that I have yet again assigned victim status counter to progressive propaganda. I'm overwhelmed with feelings based in not caring. But thanks for the lecture. That's sarcasm BTW. I'm not really thanking you because it's just progressive pomposity.

Oh and this, "If Toys 'R Us was distributing that $16 million to their workers, that is much more like what the PR bonuses are." was really an eye opener. I mean, I had no fucking idea. (That's sarcasm too!! Wish I didn't have to explain, but...)

I do have a serious question though that you might be able to answer. Why did 0bama allow all that mean shit to go on in PR?

 

[dank69]

It seems that I have yet again assigned victim status counter to progressive propaganda. I'm overwhelmed with feelings based in not caring. But thanks for the lecture. That's sarcasm BTW. I'm not really thanking you because it's just progressive pomposity.

Oh and this, "If Toys 'R Us was distributing that $16 million to their workers, that is much more like what the PR bonuses are." was really an eye opener. I mean, I had no fucking idea. (That's sarcasm too!! Wish I didn't have to explain, but...)

I do have a serious question though that you might be able to answer. Why did 0bama allow all that mean shit to go on in PR?

Why did Obama not make the GOP congress do what he wanted you mean?

 

[ivwshane]

Why did Obama not make the GOP congress do what he wanted you mean?

He's so fucking stupid and has zero clue how our government works. Good luck conversing with the water boy.

 

[Puffnstuff]

The bonuses will trickle down. Don't worry!

Hey that sounds like a DT Russian hotel excuse and I can hear him now "but your honor we were conducting a business deal and the girls were explaining trickle down economics to me". Would you buy that?

 

[ch33zw1z]

I do have a serious question though that you might be able to answer. Why did 0bama allow all that mean shit to go on in PR?

PR's problems started decades ago. read up.

or watch a 20 minute video

https://youtu.be/Tt-mpuR_QHQ

 

[dank69]

He's so fucking stupid and has zero clue how our government works. Good luck conversing with the water boy.

99% of conservatives are either stupid or willfully ignorant. Boomerang is not one of those people. He is one of the ones that is just pure malicious evil, most likely economically invested in either generating or disseminating propaganda for his team. Whether he is actively paid to do so or just stands to benefit financially over the short term by having their policies implemented is anybody's guess, but certainly one of those two.

 

[IronWing]

Can you do math?
Do you realize what 100/9,400 is?

Um, I love you like a brother but…

 

[darkswordsman17]

It seems that I have yet again assigned victim status counter to progressive propaganda. I'm overwhelmed with feelings based in not caring. But thanks for the lecture. That's sarcasm BTW. I'm not really thanking you because it's just progressive pomposity.

Oh and this, "If Toys 'R Us was distributing that $16 million to their workers, that is much more like what the PR bonuses are." was really an eye opener. I mean, I had no fucking idea. (That's sarcasm too!! Wish I didn't have to explain, but...)

I do have a serious question though that you might be able to answer. Why did 0bama allow all that mean shit to go on in PR?

No, you were speaking out of your ass. Simple as that. Well obviously you don't care. You didn't even need to state that, its openly apparent to anyone reading your posts. Like how you can't even be bothered to learn basic facts.

You know, that explains a lot. Because if you think my whole short few paragraph-comprising posts are lectures, you clearly have not had any formal education beyond what, 2nd grade?

Are you really trying to show, comprehensively, how terrible you are at offering up anything resembling a discussion? We see you suck at sarcasm, suck at logic, suck at math, suck at comprehension. Let's see what else. Oh, right, as usual you show perfectly how intellectually dishonest you are. Once again, if you had bothered to spend any time to get basic facts about this, you'd have an answer to your question.

But you know what, I'll give you a serious answer. As an attempt to start to do something about it, after a lot of pressure, Congress got off their asses and came up with PROMESA, which established the oversight board (which was the board I was referencing, you know, the one I said ok'ed the bonuses and even went out of their way to say they were actually deserved, just that it gave fodder to intellectually dishonest idiots like you and your "fiscal conservative except when they're in charge" gang of asshole politicians). Obama signed it into law in June of last year. Time will tell if it actually accomplishes anything, or makes things worse. Given the current state of the island though, they've got a long way to go, and they currently have bigger issues than dealing with predatory lenders.

I'd offer you more information, but hey, you clearly have a disdain for learning anything, so I'll just stop there. Besides, it quickly gets more complex than your capable of understanding anyway. Maybe next time you can, I don't know, at least try to know fucking anything about what you're talking about? I know you won't, but, hey, I can get a participation trophy for playing teacher to you apparently.

 

[shortylickens]

Um, I love you like a brother but…

I love you like a pimp.
But......

Ima fuck you like a hooker.

 

[brandonbull]

You mean the Republican controlled government? Yeah, they are trickle down masters! They've been pissing on you for decades and you still support them unconditionally.

What are you talking about? I missed the part where I pledged my unconditional allegiance to Republicans or Democrats. Don't forget the great Liberal leaders of businesses that colluded to control the employment and salaries of their employees. Democrats would love nothing more than to tax everyone's money away and then decide how to trickle that down to the masses. You can tax the rich until you are blue in the face but they will still be rich and everyone else will get scraps. It a matter of semantics in the argument of who has a grasp of the money ladle. One side want the government to scoop the money out and the other side wants rich business owners to scoop the money out.

 

[brycejones]

Phew. I was worried they wouldn't be able to get their teenagers new Ferraris for Christmas this year.

Buffy can't miss the ski trip

 

[Thump553]

This is the sort of thing that makes for horrible headlines and generally poorly written superficial articles. Based on those the average person is probably thinking "how stupid or corrupt is the judge that approved these bonuses? How crazy is the law?"

Chapter 11 of the bankruptcy code is basically designed to restructure failing businesses so they can continue. The goal is to prevent community disruption and continue jobs if feasible. You need leadership talent to rescue such businesses, and top people always demand $$. The bankruptcy court is required to approve all such salaries and bonuses. It's a contested hearing with creditors and the US Trustee entitled to argue against such bonuses.

I've never had a thing to do with this case, and don't know the real facts (based on what I've seen it seems to be hopeless to keep ToysRUs going) but my point is there is a whole lot more that went on here than the simple headlines would led you to believe.

 

[Zaap]

^ While I agree wholeheartedly that people often don't get the facts and just kneejerk based on headlines, the problem with this is that it reeks of retension bonuses. That most definitly is not legal for a company in bankrouptsy.

Its ill timed, bad PR for an already troubled company, and the quasi legality of it is shady. It smells of poor leadership.

 

[Puffnstuff]

^ While I agree wholeheartedly that people often don't get the facts and just kneejerk based on headlines, the problem with this is that it reeks of retension bonuses. That most definitly is not legal for a company in bankrouptsy.

Its ill timed, bad PR for an already troubled company, and the quasi legality of it is shady. It smells of poor leadership.

These boys will golden parachute out when the rest of the workforce seeks unemployment benefits. It wouldn't surprise me to see the restructuring fail in short order, especially if they cannot secure new lines of credit.

 

[Zaap]

What must it be like if your legacy.... is fucking up running what should have been the nations greatest toy store chain?

 

[Puffnstuff]

What must it be like if your legacy.... is fucking up running what should have been the nations greatest toy store chain?

Think about the current business climate and then consider what happened to HHGregg earlier in the year.