Saturday, April 19, 2003

American Airlines Executives: Clown School is Open

"DALLAS (April 19) - A flight attendants' union said it was rescinding its approval of $10 billion in wage cuts and other concessions to American Airlines over six years, striking a serious blow to a plan that the company said it needed to avoid bankruptcy.

"Enraged by the recent revelation that the airline planned to give bonuses to top executives, the union said late Friday that it would schedule a new vote on the concessions."

The story only whispers the outrageousness of the executives' maneuvers.
What the story doesn't tell is they voted themselves bonuses in excess of a million dollars each, and they restructured their retirement plans for 45 upper level bigwigs to get huge guaranteed retirement packages even IF the airline went bankrupt.
They said it was to keep its high level executives from quitting and seeking employment elsewhere.
Here's a thought. If the airline is going bankrupt and begging the feds and their employees to bail them out and make deep sacrifices, how shitty are the executives to begin with?
Why keep any of them?
I wish I was a union boss leading AA employees into the new negotiations.
I'd suggest the top 45 executives either step down or take immediate 50 percent pay cuts for their abysmal mismanagement of the company.
If they balk, fuck 'em, let them try to get jobs elsewhere with their "proven track records."

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