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Thread: Essar executives get their bonus

  1. #1
    IMHO
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    Default Essar executives get their bonus

    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.

  2. #2
    Senior Member Anapeg's Avatar
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    Default Re: Essar executives get their bonus

    They exact their pound of flesh just shortly before the fat lady sings.
    The aim of argument, or of discussion, should not be victory, but progress.
    Joseph Joubert

  3. #3
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    Default Re: Essar executives get their bonus

    I wonder what the employees still working there feel about the FUTURE of the plant. How fearful are retirees in terms of their pensions?

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    Senior Member Anapeg's Avatar
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    Default Re: Essar executives get their bonus

    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.
    The aim of argument, or of discussion, should not be victory, but progress.
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    Senior Member steve's Avatar
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    Default Re: Essar executives get their bonus

    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.

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    Default Re: Essar executives get their bonus

    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.
    Religion doesn't save you, change you. heal you or set you free. Jesus does.

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    Senior Member Anapeg's Avatar
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    Default Re: Essar executives get their bonus

    Quote Originally Posted by Barry Morris View Post
    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.
    The aim of argument, or of discussion, should not be victory, but progress.
    Joseph Joubert

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    Default Re: Essar executives get their bonus

    Trust me, nobody is indispensable.
    They just find 23 other bright lights. That is how they replace them, if they replace them at all.
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    Senior Member Anapeg's Avatar
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    Default Re: Essar executives get their bonus

    I was being facetious Hans. Disingenuous.
    The aim of argument, or of discussion, should not be victory, but progress.
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    Senior Member riggs's Avatar
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    Default Re: Essar executives get their bonus

    Quote Originally Posted by Barry Morris View Post
    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.
    CANADA................"often imitated but never duplicated"

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    Default Re: Essar executives get their bonus

    We don't know what the contracts included, so we have no idea.
    Religion doesn't save you, change you. heal you or set you free. Jesus does.

    "if you could lose your salvation, you would!" John Macarthur

    I promise to always post sober.

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    Default Re: Essar executives get their bonus

    Quote Originally Posted by Hans View Post
    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!!!!
    Religion doesn't save you, change you. heal you or set you free. Jesus does.

    "if you could lose your salvation, you would!" John Macarthur

    I promise to always post sober.

  13. #13
    Senior Member Anapeg's Avatar
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    Default Re: Essar executives get their bonus

    Quote Originally Posted by Barry Morris View Post
    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.
    The aim of argument, or of discussion, should not be victory, but progress.
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    Default Re: Essar executives get their bonus

    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!!!
    Religion doesn't save you, change you. heal you or set you free. Jesus does.

    "if you could lose your salvation, you would!" John Macarthur

    I promise to always post sober.

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    Default Re: Essar executives get their bonus

    Quote Originally Posted by Barry Morris View Post
    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.
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    Senior Member Anapeg's Avatar
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    Default Re: Essar executives get their bonus

    Quote Originally Posted by Barry Morris View Post
    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?
    The aim of argument, or of discussion, should not be victory, but progress.
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    Default Re: Essar executives get their bonus

    Quote Originally Posted by Barry Morris View Post
    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.
    CANADA................"often imitated but never duplicated"

  18. #18
    Senior Member Barney Rubble's Avatar
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    Default Re: Essar executives get their bonus

    http://www.superyachtfan.com/superyacht_sunrays.html


    Read this bout the essar group owners
    How Bout Them Cowgirls?


  19. #19
    IMHO
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    Default Re: Essar executives get their bonus

    You would think that if these owners are worth 6 BILLION that they would have a few MILLIONS to pay their bills. Disgusting.

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