Mary Junck, CEO of Lee Enterprises, Gets a $500k Bonus
|Mary Junck, 500 grand richer after taking Lee Enterprises into bankruptcy.|
Only in the business world that you can "earn" a half-million dollar bonus for going broke.
Carl Schmidt, Lee's vice president, treasurer and CFO, was granted a $250,000 bonus for his work during that same period. I can't imagine any private citizen making his or her way out of bankruptcy and having someone give 'em a cash bonus for pulling it off -- if that's happened to any of you, please correct me in the comments -- but then I'm carrying two dollars and change today, so the practices of corporate high-finance elude me.
Of course, if I spend that cash today I'll be broke until payday, but perhaps a kindly CEO will give me a couple bucks to tide me over.