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Nortel Directors Get a Raise. Huh?
So, let me get this straight about Nortel’s directors: After overseeing the demise of Canada’s flagship high-tech company, they’re getting a raise?
According to the 19th Monitor’s Report, the three remaining directors – Jalynn Bennett and John MacNaughton – have been given a raise to $225,000/year from $125,000 (cash, not stock), while David Richardson, who is chairman of the board, will get a raise to $325,000.
The obvious question is why the need to give Nortel’s directors more money at a time when the company’s assets are being sold off to the highest bidder?