Judge denies $20M severance deal
Judge denies $20M severance deal for American Airlines CEO
DALLAS A federal bankruptcy judge has at least temporarily blocked a proposed $20 million severance payment for the CEO of American Airlines as part of the company’s merger with US Airways.
The judge ruled Thursday that the proposed payment to CEO Tom Horton exceeded limits that Congress set for bankruptcy cases in 2005. (snip)
Tom Horton was president of the company as it headed into bankruptcy. From Wikipedia: "On September 18, 2012, the airline announced it has notified more than 11,000 workers of possible job loss as part of its bankruptcy reorganization."
Read more here: http://www.charlotteobserver.com/2013/04/12/3978837/judge-denies-20m-severance-deal.html#storylink=cpy
Do I hear a violin playing for this guy? Mmmmmmmmm.........nope!
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