Midway: A Viking Funeral For A Sinking Ship (That Means It's On Fire)
The whole Midway situation just keeps getting juicer and juicer. It is pretty much over and done with, we all know that the company is on it's way out and there is really not saving it at this point. No real shock there. Now it's time for the "how are we going to make money by going down in a flaming ball of failed games"!
In the court documents for Midway's bankruptcy filing, it turns out they have set aside $3,755,000 in cash to give to higher ups as bonuses for completing certain tasks. Namely, unloading IPs on other companies. Ubisoft has already snagged Wheelman so I'm sure someone's getting a yacht. Next on the list is Mortal Kombat which, honestly, is all they really have left.
All of this is all well and good, but it looks like most of this money is costing people their PTO cash out. Shame Midway, shame. Oh, and is anyone else kinda concerned that the bonuses they hare handing out is over 3600% more than what Mike Thomas spent to buy a majority share in the company?
Midway Offloading Mortal Kombat, Screwing Former Employees [Kotaku]
Asterick
Posted to Video Games on 2 March 2009
Other stuff like this: bankruptcy, business practices, midway, mike thomas, pto
