Bankrupt aircraft manufacturer Hawker-Beechcraft Inc. has encountered resistance from a federal trustee and a labor union over its plan to award $5.3 million in bonuses to eight senior executives as the company’s works through a Chapter 11 restructuring process initiated in May, according to an AOPA.org report.
About Janice Wood
Janice Wood is editor of General Aviation News.
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Rod bBck says
Simple solution; performance (result$) based compensation plans!
Yeah these execs deserve bonus kick in the a$$ on the way out.
Pilot 337 says
Bonuses? What for? Running your company into the ground and bankrupting it? The whole concept of a “bonus” was a reward for good work, and frankly, I don’t see any of that here. What happened to the idea of doing your job for your contracted annual compensation? This proliferation of bonuses for the top executives in “industry” is part of what’s running aviation, as well as other industries, into bankruptcy. Also, the ratios of executive salaries vs. production worker salaries is way out of proportion.
Executive bonuses are totally out of hand. Profits belong to stockholders, not executives. Executives who effectively put a company in bankruptcy not only don’t deserve any bonuses but should be evaluated as to whether they should even keep their jobs and whether if they do keep their jobs at what pay reduction should apply.