Wednesday, March 18, 2015
Bankrupt Toll Road Executives Receive $2.5 Million Bonus
There's nothing like being rewarded for failure. The executives of the bankrupt ITR Concessions, the company that went bankrupt operating the Indiana Toll Road, are scheduled to receive about $2.5 million in bonuses as a reward for their services following the sale of the company's remaining lease on the toll road to IFM Investors for $5.72 billion. It still remains a mystery to me how the buyer can cash flow the toll road on just $230 million in annual revenues.