-
Hey, It's A Tough Job To Run A Crappy Airline
-
Scenes From the Class War: American Airlines is defending its $20 million severance pay to its outgoing CEO who steered it through bankruptcy into its merger with US Airways. The company insists that it was necessary to give him that golden parachute to "motivate a strong management team during the integration process and will be paid by the new company, not the debtor in possession." In other words, if we didn't pay, he wouldn't have stayed through the bankruptcy, and besides, the merged non-bankrupt company will pay it, so it's none of your business. Couldn't they have "motivated" him with a lot less than $20 million? I'd have done it for $1 million. (Los Angeles Times)
Have an opinion? Add your comment below.