CBC News at Six - Nortel Executive Bonuses 03202009

CBC News at Six - March 20, 2009: Eli Karp, lawyer from Juroviesky and Ricci LLP ( www.jruslaw.com Nortel terminated employees opposed Nortel's motion to pay bonuses to its 8 top executives. The reason for his opposition is that his clients are amongst 1100 terminated employees owed $100 million of severance pay. The $45 million being paid as bonuses to the top executives could have contributed to severance pay. Now the public employment insurance fund bears the cost of Nortel's terminations, while its top executives pay themselves large bonuses.



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