That wouldn't happen Osmo. I'm one of those stupid guys would would be more interested in paying the people who are owed money. Then again my company is using my money not the other way around.
Nobody is complaining about Fungs $400,000 salary. We are talking about a bonus. Unless the bonus was set up for Fung if we avoided CCAA protection before Dec. 15th, I'm not sure what the bonus was for.
Kind of like asking for a government bailout and then paying CEO bonuses out of the money when these bozos are the reason a bailout was needed. The definition of capitalism is:
an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth.
I don't see anywhere that a CEO should take a bonus days before the company he runs with shareholder and noteholder money files for CCAA protection because they don't have enough funds. Top this off with the fact management including Fung has virtually none of their own money invested in the company. To the best of my knowledge Fung has 22,000 shares he actually bought.
In my opinion, it was morally wrong to take this bonus.
JJ
