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Esteemed Contributor
Posts: 7,744
Registered: ‎03-05-2011

Re: Interesting Chapter 11 Filing Yesterday

[ Edited ]

@Puppy Lips wrote:
@BalletBabeTreacy is insufferable.

@Puppy Lips   I agree!  We are not alone.  Complaints about her all over the internet.

Honored Contributor
Posts: 68,838
Registered: ‎03-10-2010

Re: Interesting Chapter 11 Filing Yesterday


@RescueLover wrote:


I suppose the incentive and retention program is to keep Top Executives from quitting during all the turmoil.


Can You imagine the entire GLOBAL OPERATION shutting down because of it. 🥴

Alleged 'top' execs who helped run the company into the ground departing before they can further depete the coffers with all the sweet deals they seem to have gifted theselves would be among the best things that could happen.


In my pantry with my cupcakes...
Respected Contributor
Posts: 4,512
Registered: ‎06-24-2011

Re: Interesting Chapter 11 Filing Yesterday

I think current executives of tanking businesses could stay on rather than get a huge payoff if let go.

 

For example, new ownership could hire a "Co-President" who could be given all the actual power, while the current President has power taken away but keeps the title to keep the $ lower.

Some execs are paid more based on how profitable they led their company. Some execs should be paid less when their business is led downward.

Esteemed Contributor
Posts: 7,744
Registered: ‎03-05-2011

Re: Interesting Chapter 11 Filing Yesterday


@Puppy Lips wrote:
@BalletBabeTreacy is insufferable.

@Puppy Lips   I just flippen on to see if she was gone. Nope still flapping 500 miles a minute.  Get this she is selling wrinkle cream??? Who will buy that whe they see her wrinkles up close?   ugh

Trusted Contributor
Posts: 1,290
Registered: ‎03-10-2010

Re: Interesting Chapter 11 Filing Yesterday


@BalletBabe wrote:

@RescueLover wrote:


I suppose the incentive and retention program is to keep Top Executives from quitting during all the turmoil.


Can You imagine the entire GLOBAL OPERATION shutting down because of it. 🥴

@RescueLover   I am ready to not see Treacy anymore.  THe last 4 days I have turned it on and there she is.  I refuse to buy anything when she is on. 


@BalletBabe  I'm sure she'll be there until the last light is turned off. 😜

There's always a lot to be thankful for if you take time to look for it.
For example, I am sitting here thinking how nice it is that wrinkles don't hurt.
Honored Contributor
Posts: 8,314
Registered: ‎06-29-2016

Re: Interesting Chapter 11 Filing Yesterday

[ Edited ]

Some clarifications about management Employment Contracts:

 

CEO Rawlinson's amended contract already contains a $2.25 million Retention Bonus, so I doubt he participates in the new retention program discussed.

 

His new contract contains very large bonuses if terminated without cause.  However, if he voluntarily resigns or is terminated with cause he receives only standard payouts.

 

Update:  Yesterday's hearing was primarily oral arguments and presentations to the Bankruptcy Court Judge.

 

His ruling could come within the next few days.

Honored Contributor
Posts: 9,357
Registered: ‎02-06-2022

Re: Interesting Chapter 11 Filing Yesterday



It might be easy to overlook the MASSIVE SCALE of this company because the Hosts (QVC & HSN) are the public face of the brand, BUT


the hosts probably only represent 3% of the GLOBAL WORKFORCE !!!




Honored Contributor
Posts: 9,357
Registered: ‎02-06-2022

Re: Interesting Chapter 11 Filing Yesterday

[ Edited ]
Just like there are WAY MORE in Upper Management than just

the CEO, Chief Executive, Presidents, Vice Presidents, Chief Financial Officer etc etc.



There are thousands of DIRECTORS and MANAGERS and SUPERVISORS overseeing the daily operations across Broadcast Networks (including ALL their Fulfillment Centers).
Esteemed Contributor
Posts: 7,204
Registered: ‎06-04-2012

Re: Interesting Chapter 11 Filing Yesterday


@They CallMe MRWILKES wrote:

Some clarifications about management Employment Contracts:

 

CEO Rawlinson's amended contract already contains a $2.25 million Retention Bonus, so I doubt he participates in the new retention program discussed.

 

His new contract contains very large bonuses if terminated without cause.  However, if he voluntarily resigns or is terminated with cause he receives only standard payouts.

 

Update:  Yesterday's hearing was primarily oral arguments and presentations to the Bankruptcy Court Judge.

 

His ruling could come within the next few days.


@They CallMe MRWILKES 

 

Thank you for the update grateful you post.

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Honored Contributor
Posts: 9,816
Registered: ‎03-30-2014

Re: Interesting Chapter 11 Filing Yesterday

Since the preferred stockholders are mostly investment firms, they have deep pockets for legal fights.