Catherwood LibraryILR School

Having approved $55 million in bonuses to 550 managers only two days before it became the largest U.S. corporation to go bankrupt, the Enron Corporation is now seeking permission to pay further bonuses to top executives. A company spokesperson has announced that Enron may petition the court overseeing its bankruptcy proceedings as early as today for approval of what is known as a retention bonus package (see WIT for Dec. 7, 2001). This announcement comes three weeks before a hearing scheduled to address the issue of severance pay for Enron?s laid off workers, who received initial severance payments of only $4,500.