The board of LDHC (Little Dumb Holding Company) MDC Partners has approved a one-time "retention incentive" award for five senior executives of the company that is conditional on continued employment through the successful closing of a significant transaction in 2019, according to an SEC filing Friday evening. Yes, these are the guys that have fucked up royally, so should be rewarded, just in case they are tempted to take their wonderful management skills to another wannabe holding company. Meantime, over at Sears, having filed for bankruptcy and laying off many workers without severance pay, they are paying "Top Executives" over twenty five fucking million dollars in bonus pay. As the Daily Kos explains... This is an important business culture to understand. The argument that Sears made in court was that it needs to be able to pay these executives nice bonuses to stick around to finish out this bankruptcy process. The logic is that these executives are hot commodities, having just helmed an enormous business failure! If the courts don’t allow them to continue to make boat payments with their bonuses, they will head elsewhere to use their special skills at bankrupting companies by draining them into the executive class! Isn't capitalism fucking great?
Capitalism explained.