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View Full Version : Essar executives get their bonus



IMHO
12-08-2015, 02:59 PM
IF I was a local employer who had not been paid by Essar I would be more than a little upset with the judges decision to give the Essar exec the money.

Anapeg
12-08-2015, 05:48 PM
They exact their pound of flesh just shortly before the fat lady sings.

IMHO
12-08-2015, 05:52 PM
I wonder what the employees still working there feel about the FUTURE of the plant. How fearful are retirees in terms of their pensions?

Anapeg
12-08-2015, 06:30 PM
They have to be uncomfortable, concerned at the very least. Those receiving the 3.5 mil in blood money had enough integrity left to want their names kept secret. They seem to lack the power of their convictions. Slim balls.

steve
12-08-2015, 08:05 PM
essar employees pretty well know 15-20 of these people.......and 90% are from the soo............none of them came from India when essar took over.

Barry Morris
12-09-2015, 04:02 PM
Executives ain't hourly flunkies.

They get contracts.

Contracts specify the work required.

They also specify any performance bonuses.

Companies don't break contracts because A they could be sued and B they would have difficulty finding qualified people next time.

Anapeg
12-09-2015, 04:47 PM
Executives ain't hourly flunkies.

They get contracts.

Contracts specify the work required.

They also specify any performance bonuses.

Companies don't break contracts because A they could be sued and B they would have difficulty finding qualified people next time.

Makes sense. How on Gods green earth could this bunch of bright lights ever be replaced.

Hans
12-09-2015, 07:56 PM
Trust me, nobody is indispensable.
They just find 23 other bright lights. That is how they replace them, if they replace them at all.

Anapeg
12-09-2015, 08:12 PM
I was being facetious Hans. Disingenuous.

riggs
12-09-2015, 09:01 PM
Executives ain't hourly flunkies.

They get contracts.

Contracts specify the work required.

They also specify any performance bonuses.

Companies don't break contracts because A they could be sued and B they would have difficulty finding qualified people next time.

They were paid under Essar's KERP( key employee retention plan )..........Rest assured these bonuses had nothing to do with their contracts and everything to do with their knowledge be it good or bad.

Barry Morris
12-09-2015, 11:06 PM
We don't know what the contracts included, so we have no idea.

Barry Morris
12-09-2015, 11:09 PM
Trust me, nobody is indispensable.
They just find 23 other bright lights. That is how they replace them, if they replace them at all.

So you're saying that they should break the contracts, fire them all, and replace them with new people. People who, by the way, would be even stupider than the first bunch, to sign up with a company that screwed their predecesors!!!!

Anapeg
12-10-2015, 06:50 AM
So you're saying that they should break the contracts, fire them all, and replace them with new people. People who, by the way, would be even more stupid than the first bunch, to sign up with a company that screwed their predecessors!!!!

This right here is what is wrong today, we accept and reward $hitty workmanship. There is no recourse. No one is responsible for their deeds any longer. Adults practice it daily and they are schooling their children in it. Pride in a job well done is, if not dead, then damn well dying. Then we lament the lack of respect in kids today? Just where in Hell would they learn respect? Adults have done away with it as old fashioned, unnecessary.

Barry Morris
12-10-2015, 09:36 AM
I am very sure that some companies employ "destroyers", whose job is to make the company's division so unprofitable that it is obvious to anyone that the only recourse is closing.

If that were the case, then the bonuses are well deserved!!!

Hans
12-10-2015, 10:38 PM
So you're saying that they should break the contracts, fire them all, and replace them with new people. People who, by the way, would be even stupider than the first bunch, to sign up with a company that screwed their predecesors!!!!

No. I am saying that there is no way they should have received bonuses in a time when the employer has filed for bankruptcy protection.
The argument that they hold key positions and are absolutely necessary to restructure the company is a poor argument.

If that is the true reason, than let's see what positions they hold and how those positions fit within the restructuring plan.
And let's also see how long they continue to stay employed with the Company after they received their bonuses.

I bet if all that would become public knowledge things would be different.

Anapeg
12-11-2015, 12:29 PM
So you're saying that they should break the contracts, fire them all, and replace them with new people. People who, by the way, would be even more stupid than the first bunch, to sign up with a company that screwed their predecessors!!!!

Would this not apply as well to local creditors? You may have the best and brightest sitting in your offices but without the materials to make steel, what do they have to do?

riggs
12-11-2015, 07:12 PM
We don't know what the contracts included, so we have no idea.

I do know that KERP is not part of their contracts which is the reason why another signature was needed to receive the bonus.

Barney Rubble
12-13-2015, 08:18 PM
http://www.superyachtfan.com/superyacht_sunrays.html


Read this bout the essar group owners

IMHO
12-13-2015, 09:01 PM
You would think that if these owners are worth 6 BILLION that they would have a few MILLIONS to pay their bills. Disgusting.