Neiman Marcus must justify executive bonuses: U.S. Justice Department lawyer

FILE PHOTO: The signage outside the Neiman Marcus store is seen during the outbreak of the coronavirus disease in New York City, U.S., April 19, 2020. REUTERS/Jeenah Moon

Under U.S. bankruptcy law, “pay-to-stay” bonuses cannot be offered solely as incentives for Chief Executive Geoffroy van Raemdonck and other executives to remain with the retailer, said Henry Hobbs, the lawyer monitoring the bankruptcy, in court documents filed Tuesday. Many retailers worldwide are also failing to cope with market uncertainties and mounting debt during the crisis.

None of these are ever justifiable and they should never be paid.

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Nobody... NOBODY... who took government economic rescue funds should even entertain the idea of corporate exec bonuses. And if so then it’s time for industry REGULATIONS again. You know, the ones Trump gutted for such greed.

seems to be a thing after filing bankruptcy

Huh why?

No retention bonuses allowed?!?

Needless Markup

Did they get PPP money Of course they did while small businesses closed down. Thanks for all the winning magamorons and potus

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