Bankruptcy Court Approves $41 Million Package for Top Execs at Adelphia - Workers Would Have Had Bigger Say if More Were Unionized
The Bankrutcy Court for the Southern District of New York found that there were good business reasons for the Adelphia Board of Directors to employ Schleyer and Cooper and for structuring the compensation at the level they are proposing to pay.
CWA had filed a petition on behalf of the Adelphia workers claiming that the workers should have been consulted before the offer was made.
The court said that they are sensitive to the needs and concerns of the workforce who are union members but that it was reasonable for the Adelphia Board to chose new management without consulting the union. The Court indicated that they ruling might have been different if more of the work force were unionized. Past court rulings have given greater weight to workers concercers when a company is substanially unionized.
Attached is the decision [Acrobat 164K].
