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Ruppersberger Issues Statement on Proposed Bonuses for RG Steel Executives


Location: Timonium, MD

Congressman C.A. Dutch Ruppersberger today issued the following statement on proposed bonuses for executives at Sparrows Point steel mill owner RG Steel, which has filed for Chapter 11 bankruptcy:

"The fact that RG Steel executives have requested bonuses worth up to $2 million each while the company is laying off thousands of hard-working men and women at Sparrows Point is absolutely outrageous. As trustee Roberta A. DeAngelis has rightfully noted, RG Steel's plan fails to specify the performance requirements the executives would have to meet to get their bonus. What's more, RG Steel is trying to hide who will receive the bonuses, their job descriptions and what they earn already.

Time and time again, the men and women of Sparrows Point have rallied under the most frustrating of circumstances. I am pleased that the federal government recently approved an emergency grant to provide laid-off workers with critical job training and financial assistance so they can continue to support their families during this difficult time. I remain hopeful that efforts to sell the plant will be successful. I will continue to closely monitor the situation so that all affected workers receive the answers and assistance they deserve."

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