March 26, 2011
Borders Seeks To Hand Out $8.3 Million In Bonuses
"Book retailer Borders Group Inc., which is shuttering hundreds of stores in a bid to stay alive, is seeking bankruptcy court approval to hand out as much as $8.3 million in executive bonuses, including nearly $1.7 million to President Mike Edwards.
Papers filed with the U.S. Bankruptcy Court in Manhattan outline a proposed bonus program that is keyed to the company either reorganizing under Chapter 11 or selling itself as a going concern."
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