MORE TALES OF TOP BRASS AT THE TROUGH

By LINDA LEATHERDALE

On top of all the news of Wall Street players feasting on fat-cat bonuses and excessive pay packages, funded by taxpayer-paid bailout money, comes this:

Fraud-ridden Nortel Networks, now in bankruptcy protection, wants to pay 1,000 of its top executives up to US$45 million in cash incentives and bonuses so they won’t jump ship as the ship goes down.

Meanwhile, some 95% of its workers in North America, will only be eligible for $3 million in retention bonuses.  There’s even been suggestions that government bail out the financially-troubled Ottawa-based hi-tech player, who’s been riddled by scandal after scandal, after CEO John Roth walked out the door with $400 million, while Nortel shares plummeted and employees lost jobs…

lindaleatherdale.com