Calpine Directors Vote to Nearly Triple Salaries

Calpine Corp.’s directors voted to almost triple their salaries a week after the bankrupt power generator unveiled a cost-cutting plan that would fire 300 employees, or about 9% of its workforce.

The raises boosts the base pay for six of Calpine’s seven directors to $125,000 annually, up from $50,000 last year. The directors also will receive an assortment of other fees, based on their meeting attendance and board participation.