A plan by cooperative food distributor Associated Wholesalers Inc. to pay executives more than half a million dollars in bonuses has met the resistance of a federal bankruptcy watchdog, who says that the extra pay doesn't require enough work on the part of the employees, Dow Jones Daily Bankruptcy Review reported today. Associated Wholesalers proposes paying 12 members of senior management $246,254 for staying with the company until it is sold. Another $320,186 has been set aside to pay 15 senior managers if the company meets or exceeds certain financial projections. U.S. Trustee Roberta DeAngelis took issue with the bonuses in a filing on Friday, saying that both plans fail to meet the standards outlined in federal bankruptcy laws.
