You know, I have been so busy this week with remodeling my kitchen that I almost forgot to take some time to hate United Airlines. No worries, though, they stepped up to the plate like champs… as they always do. See, United went bankrupt a couple of years ago because of super bad management. Super bad! Don’t tell me it was after effects of 9/11, or any of that horseshit. Southwest kept flying and kept making money. Anyhow, United demanded the government bail them out and pay all of their debts. The government, wisely, told them to f themselves.
So then United, in an effort to prove how horrible they are… canceled all of their employee’s pensions. This leaves the Federal Govt (ie; you and me) to pay for these pensions for long time employees. Problem also is that the pensions would only be paid out to lifetime employees at about 40% of their original promised value.
That was then, this is now. We don’t worry about them anymore because we fly Southwest Air now to Denver. Guess what United decided today, with the company still failing in bankruptcy, and still nowhere near ever making a profit?
United CEO could get $15 million in stock
Three executive vice presidents at United would pocket restricted stock and options worth $6 million each, and four senior vice presidents would each receive equity grants worth $3 million. Thirty-one other company officers would each get $750,000 in grants, and 366 other managers would receive $100,000 in equity.
Wow. I mean, just… WOW. The company went teets up, laid everyone off, went into bankruptcy, reneged on the retirement for all their employees… then gave the suits Millions. Come on, what the shit is that? No wonder the company can’t stay aground, they are too busy paying off management. Long story short, don’t fly United.
I agree in principle. But, in reality, unless they want to hire me to play CEO, they are going to have to pay that amount to hire anyone worth a crap.
That’s the part that really gets me heated. Who in the hell is worth millions of dollars in salary? No wonder US companies are falling so far behind the rest of the world. Simple greed. Three Executive VPs getting $6 mil apiece? To do what? What they hell are they doing to deserve $6 million dollars? And why on earth do they need that much money? They have 50 kids that need to go to Harvard?
I just don’t get it
I wish I could start a company, run it into bankruptcy and still make $100 K. That would be a no-brainer and I could use the money…