A Bonus for Failing? Welcome to Tribune

Tribune announced that they will give the company executives a bonus for working 15 months on the Sinclair merger that never happened. 

The company paid out between $102,000 and $160,000 to chief financial officer, Chandler Bigelow, as well as its president of broadcast media, Larry Wert, and its general counsel and chief strategy officer Edward Lazarus.

Tribune also said that other executives will get bonuses based on a similar percentage of their targeted annual bonuses.

The bonuses had been conditioned on completion of the Sinclair merger, the company said.

But wait, the merger didn't happen and yet they are still getting their bonuses. 

The bonuses “are being paid to the executives, like other recipients of unpaid retention bonuses, in recognition of the substantial efforts and time that each of them devoted to the company’s anticipated merger with Sinclair and their contributions to maintain and grow the company’s business,” the company said.

Oh! I see, they worked a bit extra so they deserve and extra $100 grand or so?

Remember that Tribune employees, the next time to company asks you to work a few extra hours. And even if you fail at your job, don't worry, judging by this, you'll still get paid. 

What a great business. 

H/T Reuters

---