Quick: what do you do when your company is $20.4 billion in debt and you’re not going to make your numbers in the first quarter?
If you’re iHeart Media, the top guys give themselves a nice raise and get their golden parachutes ready.
I can promise you that a lot of iHeart employees who have to suffer under Bob Pittman (Frick) and Richard Bressler (Frack) are going to be angry when they see this.
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- How much are they appropriating for themselves – it’s huge.
- Why are they trying to sneak this through, don’t they have to deal with the SEC?
- The magic end date (they come right out with it) – is this the day they leave?
- Whoa! Is this a trial run to see if anyone notices? In other words, is there more compensation getting ready to be added to Rich and Bob’s deals.
- What Rich and Bob are doing is considered highly unusual – here’s what most companies do when building a golden parachute for key execs.
The answers begin here.
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