Workers Union Balks at HBC Executive Bonuses
Responding to a recent filing in bankruptcy court by Hawker Beechcraft, seeking approval for as much as $5.328 million in bonuses for eight top executives, the International Association of Machinists and Aerospace Workers (IAW) has filed a formal objection. In it, IAW aerospace coordinator Ron Eldridge referred to those in line for bonuses as “the very executives who led Hawker Beechcraft into bankruptcy.”
An HBC source, however, noted that chairman Bill Boisture did not take over until March 2009, well after the financial structure and debt load was already in place. Other top executives for whom bonuses are recommended were put in place after that date as well.