Bankruptcy judge balks at $600,000 salaries for Gainey Corp. officials - Truckers' Trucking Forum

Cybergal · **^ Top** #1 11.15.2008

Bankruptcy judge balks at $600,000 salaries for Gainey Corp. officials

Quote:

GRAND RAPIDS -- Tough times call for some wallet-tightening sacrifice.
That's the harsh message a judge sent to local philanthropist Harvey Gainey on Friday when he delivered an 87 percent pay cut to the founder of bankrupt trucking giant Gainey Corp.
For now, Gainey will have to make do with $169,300 a year. It's a far cry from the $1.3 million annual salary he drew before his company and its subsidiaries filed for Chapter 11 bankruptcy protection last month.

http://www.mlive.com/grpress/busines...s_at_6000.html

prisonerofthehwy · **^ Top** #2 11.20.2008

Thanks Cybergal, we where wondering here at work, about what was going on with Super Service. (Owned by Gainey) So we wondered into the truckers report for our info.

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