Owens Corning (OC), and contentious bank creditors were told by a Judge to continue negotiations over a disputed special bonus program for the firm's CEO and 4 other top officials (which was agreed in 2000). The so-called "retention plan" is aimed at preventing important employees from defecting to competitors while OC remains in bankruptcy. OC wants to pay the five double their base pay annually, including $750,000 for CEO; $650,000 for Chairman; & between $275-368 for the others. The Judge, Judith Fitzgerald, must agree to the plan. However, the banks, who are unhappy with the firm's bankruptcy-exit proposal, have urged her not to do so. They say the executives are paid enough already and there is little danger they will leave en-masse and put the company in a desperate situation. A hearing is scheduled for 8 September.
