Dana's New Bonus Plan Triggers Both Anger and Praise

Law360, New York (November 15, 2006, 12:00 AM EST) -- A week after submitting a revamped executive compensation plan, embattled auto supplier Dana Corp. has found its proposal at the center of controversy in the bankruptcy case, with the plan drawing both strong support and opposition from key groups.

On Tuesday, two unions, the UAW and the USW, filed an objection to Dana’s new plan to pay Michael Burns, the company’s chief executive, as much as $4.5 million during 2007 and as much as $2.25 million in 2008 in order to retain the top executive....
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