Allen Family Foods, the bankrupt Seaford-based poultry producer, is seeking a judge's permission to pay executives up to $200,000 in bonuses to complete a sale of the company that would result in 1,600 people losing their jobs.
The bonus-payment request surfaced in filings in U.S. Bankruptcy Court in Wilmington, with a hearing scheduled for July 15.
The executives who would be entitled to the bonuses under two incentives plans are not named in court documents.
Allen, which employs about 1,600 people in Delaware, has agreed to sell most of its assets to Millsboro-based poultry firm Mountaire Farms for $30 million. Mountaire plans to expand at its facility in Selbyville and might hire some Allen workers for that, but the laid off workers have no firm offers.
11 comments:
well folks so much for eastern shore companies giving a crap about their employess....that takes..lls!!!You file bankruptcy,throw your hard working employess out the door..Then plan to offer some execs a bonus?With borrowed money?.. and think it makes sense? Take the "bonus" money and give it equally to all the employees!Just another company who wont do the right thing... what a shame...Talk about a final classless act...Last time i checked i never saw a chicken farmer head to his coops in a suit...
Nobody should be surprised by corporate antics. S.O.S.
Obama allowed bonuses to be paid in the BAILOUT because there was a contract. So what is the difference? You complainers will still vote Obama / DemocRATS.
If they don't get it, then lets see a major movement for these Fat Cats in the bailout for reimbursing the Tax Payer.
You are broke but you are paying out bonuses to the executives???? Unbelievable !!!!!
Everybody, put your "rocket science" hats on and try to figure out WHO are the executives "not named" getting the bonuses.In the real world, bonuses are passed out for SUPERIOR performance, not as a perk in your contract. The Titanic is sinking, but the captain wants a bonus?
3:24
you are on the ball , bravo
How true it is
paid for service above and beyond the normal call of duty.
somebody wasn't doing their job or they would be in business , so let's just reward them for for screwing up hundreds of peoples lives.
Charles Allen Sr. is rolling in his grave.
A&P basically did the same thing-- in one breath they went to the judge and got millions in bonuses approved and in another breath got permission to close 25 stores, 1/2 of which were profitable stores...... makes you just kind of shake your head.
I hope the upper management who stole Allens out of buisness are happy now; like the transportation Vice President a few years ago; $700,000 dollars in one week alone out of the Hurlock Plant!!!
It is not only the VP and Directors and Managers getting the bonus.....(and not all are managers). It is the same blueprint of why the company is where it is. Hide the facts and point fingers at others.
This is the worst run company in this area.......obviously. Follow the trail. Employees are entitled to the facts. Name the names.
The company has a financial black hole.Money can't go out with out someone signing the check or through fraud. One would think the VP of finance would have been on top of this. 92 years and they want to blame it on corn. I blame the accountants. One year ago they sold a complex and claimed to re-invest for expansion. NEVER HAPPENED. Where is that money????? Is this a shell game?
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