A2: Business

The Detroit News reports on Borders Group’s efforts to revamp executive bonuses as the Ann Arbor bookseller continues to reorganize under Chapter 11 bankruptcy. In a New York bankruptcy court hearing on Thursday, the bookseller asked to adjust its retention bonus policy, but the hearing adjourned and no agreement was reached with the judge. The article quotes University of Michigan law professor John Pottow, who says the outcome is not a good sign: “It means someone ganged up on them, and they lost credibility with the judge. They’re going to have to go back to the drawing board, and they’re going to have to do it quickly because the executives aren’t going to work for free.” [Source]