Tribune's $43M executive bonus plan lambasted by trustee

The US Trustee overseeing Tribune Co.'s bankruptcy filed a preliminary objection to the Chicago media company's request for up to $43 million in 2010 bonuses, saying the company doesn't understand "shared sacrifice."

The trustee noted in the filing that if the additional compensation is granted, cash bonuses for executives and managers at Tribune -- which owns the Chicago Tribune and Los Angeles Times newspapers and several TV outlets -- will top $100 million. Tribune, known in the bankruptcy proceedings as the debtor, requested bonuses under four separate compensation programs. "While the debtors argue for 'shared sacrifice' in addressing collective bargaining issues with their unions, the debtors fail to understand what that concept means when it comes to compensating their management," Trustee Roberta DeAngelis wrote in the filing.