Guest Fax Posted August 21, 2003 Share Posted August 21, 2003 It was posted earlier, but can anybody expand on the "alleged" Golden Parachutes for Robbie & the boys? Link to comment Share on other sites More sharing options...
Guest Airmail Posted August 22, 2003 Share Posted August 22, 2003 There is no such thing. Period. Link to comment Share on other sites More sharing options...
Mitch Cronin Posted August 22, 2003 Share Posted August 22, 2003 Fax, You'll have to forgive Airmail, he's somewhat biased by his position. Here's what I could find in a hurry: From: http://www.globeandmail.com/servlet/story/RTGAM.20030704.umiltm/BNStory/Business/ "However, Mr. Milton stands to win financially if control of the company changes during the restructuring. As part of a "change-of-control" agreement in place since 1999, Mr. Milton can elect to leave the company and receive a golden parachute of three years' salary and a bonus. The agreement is estimated to be worth more than $5-million." I do recall reading the deal would also include lesser sums to other execs. Link to comment Share on other sites More sharing options...
Say Altitude Posted August 22, 2003 Share Posted August 22, 2003 He can use the 5 mil to buy some Rogaine for his head after spending so much time pulling his hair out in frustration while dealing with Buzz and the CAW. Do you blame him? Link to comment Share on other sites More sharing options...
Guest Fax Posted August 22, 2003 Share Posted August 22, 2003 Thanks Mitch...hope you & yours are doing well. Link to comment Share on other sites More sharing options...
Guest Fax Posted August 22, 2003 Share Posted August 22, 2003 You've gotta be joking.......coma It seems to me that what he has been trying to do is negotiate his future employment. Can you honestly tell me that he hasn't been trying to exercise some sort of control over who his potential employer is? Link to comment Share on other sites More sharing options...
Guest Fax Posted August 22, 2003 Share Posted August 22, 2003 You've gotta be joking.......coma It seems to me that what he has been trying to do is negotiate his future employment. Can you honestly tell me that he hasn't been trying to exercise some sort of control over who his potential employer is? And if he doesn't approve....he's got a helluva exit. Link to comment Share on other sites More sharing options...
Mitch Cronin Posted August 22, 2003 Share Posted August 22, 2003 No, I don't blame him. Not for the jump chute clause at least. Link to comment Share on other sites More sharing options...
dragon Posted August 22, 2003 Share Posted August 22, 2003 No such thing? What is the severance that you know of Airmail? My bad memory seems to recall an initial [and very generous] package constructed during or shortly after the ONEX period.. since then, I have again both heard and read of other enhancements to the package. What’s your understanding? Link to comment Share on other sites More sharing options...
Guest Airmail Posted August 22, 2003 Share Posted August 22, 2003 Are we going around this bend all over again? I think this was all made clear weeks ago. The agreement this poor/pathetic reporter was trying to stir up trouble with was entered into in 1999 during a hostile takeover attempt -- we all know what was happening at the time. It is not current nor is it something which has been agreed to by the monitor or the judge -- two pretty important conditions that should not be overlooked. In other words, the agreements described in the article were disclosed every year in the annual information form for the past 2 years and the CCAA filing supercedes those agreements. So before we start buring more effigies, let's look at the facts -- AC has not entered into any retention agreements or so-called parachutes with any executive since the CCAA filing. If any such agreements were entered into post-April 1, they would be disclosed -- so far, no such agreements have been disclosed. Link to comment Share on other sites More sharing options...
Guest Ozanne Posted August 22, 2003 Share Posted August 22, 2003 At twice the price it would be a good buy to send AC management packing. Link to comment Share on other sites More sharing options...
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