Essar Steel Algoma will be back before the courts seeking permission to allocate $3 1/2 million towards bonuses for 23 executives they’ve deemed to be crucial in their restructuring and a further quarter million dollars for possible future bonuses.   The 23 employees have been divided into four groups, each receiving 25, 50, 75 or 100 percent of their annual salaries. The company is also trying to keep the list of recipients secret.   The Steelworkers Union is opposed to both ideas. This as the company was granted a suspension of it’s employee pension payment for last month … and as dozens of businesses are waiting to see how much of a haircut they’ll have to take as the company continues it’s restructuring through next summer.

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