[classicman]

Judge approves Tribune bonus payments

WILMINGTON, Del. (AP) — The Tribune Co. can pay more than $13 million in bonuses to almost 700 employees for their work last year, a federal bankruptcy judge ruled Tuesday.

But the judge denied authorization for the Tribune to make more than $2 million in severance payments to more than 60 employees laid off shortly before the Chicago-based company filed for bankruptcy protection.

Judge Kevin Carey authorized the bonus payments after Tribune chief financial officer Chandler Bigelow III testified that the bonuses are critical to keeping key managers motivated as Tribune tries to adjust to a tough economic climate for media companies.

"We need to motivate and incentivize the key people who will implement change," Bigelow said. "These are really good people we're talking about. They're the best and the brightest of the company."

These are true bonus', NOT retention payments.

Where did we hear that type of praise before?