Airline Bamkruptcy Article Wsj

[Wretched Wrench]

In today's WSJ, front page, there is an interesting article. I would disagree with a few statements, but, as always, Bobby rings true.
-------------------------------------------------------------------------------------------

in part.................................

Robert Crandall, former chief executive of AMR Corp.'s American Airlines, says the industry will be unstable until the government stops allowing failed airlines to reorganize in bankruptcy court and forces them to sell assets, just as long-gone Eastern Airlines and Pan American World Airways did. Otherwise, he says, "the capacity never comes out, and it takes all the guys who haven't gone bankrupt and drives them into bankruptcy."

"The U.S. government's only policy is to make sure there are low prices for consumers," he says. "In my mind, that isn't a satisfactory aviation policy." He warns that if hub-and-spoke network carriers disappear, airline service could be restricted to people who live in big cities or along heavily traveled routes. People living in Tucson, Ariz., might find it hard to find a one-connection flight to Buffalo, N.Y.

 

[TIME FOR CHANGE]

The U.S. government's only policy is to make sure there are low prices for consumers,"

No matter what the cost to the employee his pay or his pension.
Instead of trying to make a failing industry work the only people paying the price are the employees. That is why I could give a sit less about the industry or the flying public. So long as the fares are cheap we will bare the brunt of the burden. Great way to run things or should I say ruin things. blah blah blah blah blah

Just keep the checks coming until we are all in bankruptcy

 

[TWU informer]

I agree with Crandall. I do find it interesting that he only seems to speak up and be quoted when the rumors indicate a merger could result in a larger airline than AA. Seems he is just as interested in defending AA as the largest as he is giving truthful statements about the industry.

However, Union Leadership that continues to capitulate to concessions in an effort to "save jobs" instead of salvaging pay and benefits is just as much a capacity mainstay as the bankruptcy court.

Heck, wasn't it the likes of CIO that claim victory is saving 12,000 jobs and three maintenance bases? Pay and Benefits be damned, you're lucky to have a job, Brother.

Instead, AA places more seats back in the aircraft, AA Union's give away the farm, and that race for the largest airline and lowest pay continues.

The Heavily Regulated - De-Regulated Industry is in turmoil.

Most "De-Regulated" Industries have casualties and supply vs demand dictates survival.

The Airline Industry however, is more like a socialist government controlled industry operating in a Capitalist Society.

Or should I say "Failing to Profitably Operate" in a Capitalist Society.

 

[Bob Owens]

No matter what the cost to the employee his pay or his pension.
Instead of trying to make a failing industry work the only people paying the price are the employees. That is why I could give a sit less about the industry or the flying public. So long as the fares are cheap we will bare the brunt of the burden. Great way to run things or should I say ruin things.   blah blah blah blah blah

Just keep the checks coming until we are all in bankruptcy

[post="302891"][/post]​

Unfortunately that is the governments position.

We have seen the BK courts stretch the code in order to wipe out the protections labor agreements were given after Loenzo abused it at Continental.

Unfortunately the unions failed to exercise their rights and go on strike when the Judge imposed new conditions. Its a basic tennent of American Law that as far as the citizen, unless its expressly forbidden, its allowed and the opposite for government, unless its expressly allowed its forbidden. The RLA clearly states that we can strike once the terms have been changed, nowhere in the RLA does it state that the Judge can prevent us from exercising that right. While the law does expressly state that he can put temporary changes into the contract it does not state that he can prevent us from striking over those changes.

We have seen the President, who when labor is in a position to make gains declare that he would not allow airline workers to strike during his reign because it would inconvience "the hard working people of America".



Those present at the 2001 IRRA conference heard Herman Bonnilla of the Bush administation tell the conference that the administration would do everything they can to give the public cheap travel and the stockholders profits and that those goals were not attainable with high wages, so the wages must come down.

There is no doubt that the airlines are using present conditions to lower the bar for labor. It is an assualt on the workers of this industry where they are prepared to accept a massive exodus of workers in order to achieve their objective of ending up with a workforce with lower expectations.

Later when there is a shortage they will claim that "these are jobs Americans dont want".

They will use that as an excuse to lower standards.

More Maintenance will be done overseas and within our borders by people with less skills and training than todays workers have. FAR 66 will allow airlines to issue their own "FAA Certificates, non portable specific liscence where a worker will be trained only in one specific area to accomplish specific maintenance tasks.

Most of the Flight Attendants and pilots will be foreign nationals, especially on anything going International.

Fleet service workers payrates will head down toward Minimum wage like at outfits such as Worldwide, Swissport, etc with the majority of workers being recent immigrants who do not speak English. The "shortage" of workers will be the excuse for "streamlining" the background checks.

That is the future of this industry. The industry will resume expansion, return to profitability, making the stockholders happy, and continue to provide cheap airfare to travellers. However for the workers it will no longer be a place where you have a carreer. The unions, especially business unions like the TWU will accept these changes willingly because the volume of dues payers will offset the lower yield per member.

So who are we fighting? The goverment, the industry, the travelling public to some extent, and EVEN OUR OWN UNIONS!!!

 

[Hackman]

This article explains the sick and twisted greed of the upper management vultures today. Why should executives be paid "Retention Bonuses" so the airline they help run into the ground can go into bankruptcy? What makes these corporate criminals deserve to get 3 separate pensions? The company is failed or failing, but they have to be rewarded????

Surely these the BOD's could OUTSOURCE the CEO positions of these bankrupt carriers to some FOREIGN CEO candidates from Asia or Mexico, who would do a satisfactory job for a fraction of the price these slugs command.

OUTSOURCE THE CEO'S at failed corporations!!!! Should save billions.





Northwest and Delta executives to make millions from bankruptcies
By Jerry Isaacs
19 September 2005

Over the last several years the top corporate executives at Northwest and Delta airlines negotiated retirement packages guaranteeing them millions in the event the companies declared bankruptcy and defaulted on their pension payments to employees. Both companies filed for Chapter 11 bankruptcy protection last Wednesday, in large measure to escape their pension obligations and seek the bankruptcy court’s backing for sweeping cuts in airline workers’ jobs, wages and benefits.

Since 2000, Delta has lost $10 billion, slashed 23,000 jobs and cut pay for pilots, executives and other employees. Three years ago the company spent more than $44 million setting up trusts to protect executives’ pension benefits from creditors in case of bankruptcy, saying the perk was needed to retain executives in hard times. Because transferring money to bankruptcy-proof trusts typically triggers big tax bills for the executives, Delta inflated the amounts to compensate for the extra taxes.

Retiring CEO Leo Mullin, who was paid $13 million in compensation in 2001, was given 22 years of instant seniority—although he worked for Delta for only five-and-half years—boosting his retirement package to $16 million. While incoming CEO Gerald Grinstein took a ceremonial pay reduction to bolster the company’s demands for sweeping employee wage and pension cuts, behind the scenes other executives were cashing in on the benefits of their golden parachutes.

Former CEO Ronald Allen, who was forced out in 1997, continued to draw $500,000 a year from Delta for consulting services up until 2005, although neither the company nor Allen would say whether he ever provided any such services. Allen’s exit package also included a $4.5 million cash severance payment and a $765,000-a-year pension that continues. He also got 10 years’ worth of perks, such as a 2,090-square-foot Buckhead, Georgia office, a car and club memberships provided by Delta.

When Northwest Airlines CEO Richard Anderson left the company last year, he took his pension in a lump-sum payment of $3,028,700. Anderson’s check covered three separate pensions he received from Northwest: the regular pension plan, his excess pension plan and his supplemental executive retirement plan, or SERP. Other top executives at Northwest, including current CEO Doug Steenland, also were guaranteed three pensions.

Union workers at Northwest have a pension plan based on years of service. For mechanics, custodians and cleaners—currently on strike against Northwest’s demands for the elimination of more than half their jobs and the replacement of traditional guaranteed pensions with 401(k) plans—that amounts to $85 a month for every year they work. According to the Aircraft Mechanics Fraternal Association (AMFA), a mechanic who retires at 65, after 40 years at Northwest, will collect about $40,000 a year.

The company’s 2005 proxy statement indicated that CEO Steenland will receive $947,417 a year if he retires at 65. Delta’s “supplemental plan†adds multipliers to boost the pensions of the company’s four top executives, crediting Steenland with 15 years of service for every five he works and paying him pension credits at twice the rate applied to regular salaried workers.

The company’s four top executives—Steenland and executive vice presidents Tim Griffin, Phillip Haan and Andrew Roberts—will receive a total of $2,476,100 in annual pension benefits. This is enough to fund the pensions of 90 flight attendants with comparable years of service.

In addition to their pension benefits, Northwest’s top five executives (the above-mentioned, plus Executive Vice President and General Counsel Barry Simon) have taken in $32,000,721 in compensation since 2002, not including other perks such as lifetime health-care coverage and travel benefits. The five also sold more than $1 million worth of stock in the months leading up to the bankruptcy announcement, as did big investors, like professional financier and former NWA Board of Directors member Al Checchi, who sold 1,650,240 shares from April 23 to May 3, raking in $8,439,884.

The New York Times reported Thursday that the timing of Northwest’s bankruptcy filing allowed the company to protect its assets while executives reneged on a payment of $65 million into the employee pension fund, which is already underfunded by $3.8 billion. If Northwest skipped the payment before filing for bankruptcy, it would have been in violation of federal pension laws, and the government-run Pension Benefit Guaranty Corporation (PBGC) could have placed a lien on the airline’s assets, giving itself a better chance of recovering some of the money.

Instead, the newspaper noted, “ince Northwest filed for bankruptcy first, then skipped the pension contribution, the government has no legal power to place a lien on its assets. It makes the pension guarantor—and the employees and retirees whose interests the government represents—into unsecured creditors for the $65 million. Unsecured creditors generally fare poorly in bankruptcy, recovering just pennies for every dollar they are owed.â€

If the PBGC takes over Northwest’s pension plans pilots would suffer the loss of half or more of their pensions because the PBGC caps payments at $45,613 a year for plans canceled in 2005. Other unionized workers could also see drastic reductions.

Northwest also wants to freeze its current defined benefit pension plans and switch to defined contribution plans, such as 401(k)s, which are cheaper for employers but don’t provide workers the guaranteed benefits of traditional pensions.

Delta’s pension funds are in even worse shape. If the company defaults on its obligations it would set a record, surpassing the size of the United Airlines pension collapse earlier this year, and further staggering the overburdened pension guarantee board. According to board officials, Delta’s pension plan has promised benefits worth $17.5 billion, but it only has $6.9 billion in assets. With its bankruptcy filing the company is expected to press for even more drastic cuts than it outlined in its corporate restructuring plan last year, when it announced plans to cut $5 billion and 7,000 jobs by next year.

The looting of airline workers’ pension funds is but one example of how the assets of the major airlines have been squandered over the last several decades to enrich the airline bosses and big investors. It also underscores the widespread parasitism that pervades the boardrooms of corporate America.

The top personnel of the airline industry are chosen—and highly compensated—not because of their ability to manage complex organizations or to lay out a long-term corporate strategy. Instead a definite social type has risen to the top, whose only qualifications are its acuity for slashing tens of thousands of jobs and guaranteeing the quickest and largest payoffs to Wall Street.

Northwest’s CEO Steenland began his career working for the Office of General Counsel for the secretary of the Department of Transportation when the Democratic administration of President Jimmy Carter was preparing the deregulation of the airline industry. He later joined a top law firm in Washington DC, which represented Pan American Air Lines during the merger frenzy that preceded the company’s bankruptcy declaration, and later represented an investor group that organized the leveraged buyout of Northwest Airlines in 1989.

Steenland is particular adept at working the halls of Congress to lift regulations on pension funding and any other restrictions on profit-making, and at making use of the services of the labor bureaucracy to cut labor costs. “Since the biggest input is the wages, salaries, and benefits line, this puts a lot of attention on working with our employees in knowing what we need to do to survive in the long term,†he commented.

Last year, in the midst of concession talks with the pilots union, Steenland hired Barry Simon as the company’s executive vice president and general counsel. Simon was a top executive in the Seabury Group, a New York consulting firm whose “restructuring†clients have included Air Canada, US Airways, America West Airlines and Continental.

Simon earned his credentials as an executive at Continental and Eastern airlines, where he served under corporate raider and union-buster Frank Lorenzo. In 1983 Continental filed for bankruptcy—despite the airline’s $60 million in cash reserves—in order to exploit a provision in the Bankruptcy Code allowing Lorenzo to abrogate his contracts with the unions. Simon directed Continental’s legal strategy when it emerged from bankruptcy a second time in 1991.

Simon also played a leading role in the bankruptcy of Eastern Airlines, which stopped flying in 1991 following the bitter strike by unionized mechanics. At the time, Lorenzo and his team stripped the airline of valuable assets and sold them at fire-sale prices to Continental.

The 1980s and 1990s saw the emergence of junk-bond dealers and corporate raiders in the airline industry like Lorenzo and Carl Icahn (who bankrupted Trans World Airlines, among others, and who is now worth $5.8 billion—no. 55 on the list of the world’s richest people).

Today, after nearly a quarter of a century of betrayals by the trade union bureaucracy (from the striking air traffic controllers in 1981 to the present scabbing organized by the airline unions against the striking Northwest mechanics), the corporate executives running the airlines feel even less restraint than their predecessors did when slashing workers’ jobs, wages and benefits and looting company assets to enrich themselves.
:down: :angry: :down: :angry: :down: :angry:

 

[Hackman]

Can't forget the greedy LAWYERS!!!!!!



http://biz.yahoo.com/ap/050919/airlines_bankruptcy.html?.v=2



$795 an hour????? Jeeezzz!!!!!!

 

[FWAAA]

Can't forget the greedy LAWYERS!!!!!!
http://biz.yahoo.com/ap/050919/airlines_bankruptcy.html?.v=2
$795 an hour????? Jeeezzz!!!!!!

[post="302937"][/post]​

Nice work if you can get it. Darned lawyer unions.

 

[NewHampshire Black Bears]

In today's WSJ, front page, there is an interesting article. I would disagree with a few statements, but, as always, Bobby rings true.
-------------------------------------------------------------------------------------------

in part.................................

Robert Crandall, former chief executive of AMR Corp.'s American Airlines, says the industry will be unstable until the government stops allowing failed airlines to reorganize in bankruptcy court and forces them to sell assets, just as long-gone Eastern Airlines and Pan American World Airways did. Otherwise, he says, "the capacity never comes out, and it takes all the guys who haven't gone bankrupt and drives them into bankruptcy."

"The U.S. government's only policy is to make sure there are low prices for consumers," he says. "In my mind, that isn't a satisfactory aviation policy." He warns that if hub-and-spoke network carriers disappear, airline service could be restricted to people who live in big cities or along heavily traveled routes. People living in Tucson, Ariz., might find it hard to find a one-connection flight to Buffalo, N.Y.

[post="302878"][/post]​

+++++++++++++++++++++++++++++++++++++++++++++++++++

UNCLE BOBBY "LIVES" !!!!!!!!!!!!!!!!!!!!!

Funny thing. No matter what each of us thinks about Crandall, NO matter who we work for(Airline industry, or not)...........WHEN CRANDALL SPEAKS, EVERYONE "LISTENS" !!!!!!!!!!!

His ol' (sometimes) cold heart, will ALWAYS be with AA !!!!!!!!!!!!!


NH/BB's

 

[CapnCockroach]

Screw Crandall. I love my cheap airfares.

 

[goingboeing]

Screw Crandall. I love my cheap airfares.

[post="302973"][/post]​

I'm glad you like cheap fares because you will soon get a tax bill from Uncle Sam for either direct or indirect subsidies of the airlines.Have a nice day!

 

[Hackman]

Can't forget the greedy LAWYERS!!!!!!
http://biz.yahoo.com/ap/050919/airlines_bankruptcy.html?.v=2
$795 an hour????? Jeeezzz!!!!!!

[post="302937"][/post]​

"Lets kill all the lawyers.....kill 'em tonight....."

Love that song.

So you think its just dandy FWAAA (whatzthat?) the rich capitalize on a companies failed ride into bankruptcy to enrich themselves? This, while the 20 and 30 year grunts on the front lines sacrifice their livelyhoods and retirements for the greedy CEO's failed business plan?

Do you think its normal to have bodyguards 24/7 for protection because of managements blatant incompetence and greed? Why should they be worried? :angry:

I wonder how the illicit greed makes some sleep better at night. I hope former TYCO CEO Dennis Koslowski who was convicted today sleeps well is his prison cell with his millions, or at least the memory and the smell of all that green. I hope he enjoys his greed now.

More is never enough.....I want yours and mine. :down:

 

[Wretched Wrench]

Good article, Hackman. Dang shame only wsws has the truth and the details..

 

[Bob Owens]

Nice work if you can get it. Darned lawyer unions.

[post="302944"][/post]​

Ah yes, the Bar Association.

 

[TIME FOR CHANGE]

This article explains the sick and twisted greed of the upper management vultures today. Why should executives be paid "Retention Bonuses" so the airline they help run into the ground can go into bankruptcy? What makes these corporate criminals deserve to get 3 separate pensions? The company is failed or failing, but they have to be rewarded????

Surely these the BOD's could OUTSOURCE the CEO positions of these bankrupt carriers to some FOREIGN CEO candidates from Asia or Mexico, who would do a satisfactory job for a fraction of the price these slugs command.

OUTSOURCE THE CEO'S at failed corporations!!!! Should save billions.
Northwest and Delta executives to make millions from bankruptcies
By Jerry Isaacs
19 September 2005

Over the last several years the top corporate executives at Northwest and Delta airlines negotiated retirement packages guaranteeing them millions in the event the companies declared bankruptcy and defaulted on their pension payments to employees. Both companies filed for Chapter 11 bankruptcy protection last Wednesday, in large measure to escape their pension obligations and seek the bankruptcy court’s backing for sweeping cuts in airline workers’ jobs, wages and benefits.

Since 2000, Delta has lost $10 billion, slashed 23,000 jobs and cut pay for pilots, executives and other employees. Three years ago the company spent more than $44 million setting up trusts to protect executives’ pension benefits from creditors in case of bankruptcy, saying the perk was needed to retain executives in hard times. Because transferring money to bankruptcy-proof trusts typically triggers big tax bills for the executives, Delta inflated the amounts to compensate for the extra taxes.

Retiring CEO Leo Mullin, who was paid $13 million in compensation in 2001, was given 22 years of instant seniority—although he worked for Delta for only five-and-half years—boosting his retirement package to $16 million. While incoming CEO Gerald Grinstein took a ceremonial pay reduction to bolster the company’s demands for sweeping employee wage and pension cuts, behind the scenes other executives were cashing in on the benefits of their golden parachutes.

Former CEO Ronald Allen, who was forced out in 1997, continued to draw $500,000 a year from Delta for consulting services up until 2005, although neither the company nor Allen would say whether he ever provided any such services. Allen’s exit package also included a $4.5 million cash severance payment and a $765,000-a-year pension that continues. He also got 10 years’ worth of perks, such as a 2,090-square-foot Buckhead, Georgia office, a car and club memberships provided by Delta.

When Northwest Airlines CEO Richard Anderson left the company last year, he took his pension in a lump-sum payment of $3,028,700. Anderson’s check covered three separate pensions he received from Northwest: the regular pension plan, his excess pension plan and his supplemental executive retirement plan, or SERP. Other top executives at Northwest, including current CEO Doug Steenland, also were guaranteed three pensions.

Union workers at Northwest have a pension plan based on years of service. For mechanics, custodians and cleaners—currently on strike against Northwest’s demands for the elimination of more than half their jobs and the replacement of traditional guaranteed pensions with 401(k) plans—that amounts to $85 a month for every year they work. According to the Aircraft Mechanics Fraternal Association (AMFA), a mechanic who retires at 65, after 40 years at Northwest, will collect about $40,000 a year.

The company’s 2005 proxy statement indicated that CEO Steenland will receive $947,417 a year if he retires at 65. Delta’s “supplemental plan†adds multipliers to boost the pensions of the company’s four top executives, crediting Steenland with 15 years of service for every five he works and paying him pension credits at twice the rate applied to regular salaried workers.

The company’s four top executives—Steenland and executive vice presidents Tim Griffin, Phillip Haan and Andrew Roberts—will receive a total of $2,476,100 in annual pension benefits. This is enough to fund the pensions of 90 flight attendants with comparable years of service.

In addition to their pension benefits, Northwest’s top five executives (the above-mentioned, plus Executive Vice President and General Counsel Barry Simon) have taken in $32,000,721 in compensation since 2002, not including other perks such as lifetime health-care coverage and travel benefits. The five also sold more than $1 million worth of stock in the months leading up to the bankruptcy announcement, as did big investors, like professional financier and former NWA Board of Directors member Al Checchi, who sold 1,650,240 shares from April 23 to May 3, raking in $8,439,884.

The New York Times reported Thursday that the timing of Northwest’s bankruptcy filing allowed the company to protect its assets while executives reneged on a payment of $65 million into the employee pension fund, which is already underfunded by $3.8 billion. If Northwest skipped the payment before filing for bankruptcy, it would have been in violation of federal pension laws, and the government-run Pension Benefit Guaranty Corporation (PBGC) could have placed a lien on the airline’s assets, giving itself a better chance of recovering some of the money.

Instead, the newspaper noted, “ince Northwest filed for bankruptcy first, then skipped the pension contribution, the government has no legal power to place a lien on its assets. It makes the pension guarantor—and the employees and retirees whose interests the government represents—into unsecured creditors for the $65 million. Unsecured creditors generally fare poorly in bankruptcy, recovering just pennies for every dollar they are owed.â€

If the PBGC takes over Northwest’s pension plans pilots would suffer the loss of half or more of their pensions because the PBGC caps payments at $45,613 a year for plans canceled in 2005. Other unionized workers could also see drastic reductions.

Northwest also wants to freeze its current defined benefit pension plans and switch to defined contribution plans, such as 401(k)s, which are cheaper for employers but don’t provide workers the guaranteed benefits of traditional pensions.

Delta’s pension funds are in even worse shape. If the company defaults on its obligations it would set a record, surpassing the size of the United Airlines pension collapse earlier this year, and further staggering the overburdened pension guarantee board. According to board officials, Delta’s pension plan has promised benefits worth $17.5 billion, but it only has $6.9 billion in assets. With its bankruptcy filing the company is expected to press for even more drastic cuts than it outlined in its corporate restructuring plan last year, when it announced plans to cut $5 billion and 7,000 jobs by next year.

The looting of airline workers’ pension funds is but one example of how the assets of the major airlines have been squandered over the last several decades to enrich the airline bosses and big investors. It also underscores the widespread parasitism that pervades the boardrooms of corporate America.

The top personnel of the airline industry are chosen—and highly compensated—not because of their ability to manage complex organizations or to lay out a long-term corporate strategy. Instead a definite social type has risen to the top, whose only qualifications are its acuity for slashing tens of thousands of jobs and guaranteeing the quickest and largest payoffs to Wall Street.

Northwest’s CEO Steenland began his career working for the Office of General Counsel for the secretary of the Department of Transportation when the Democratic administration of President Jimmy Carter was preparing the deregulation of the airline industry. He later joined a top law firm in Washington DC, which represented Pan American Air Lines during the merger frenzy that preceded the company’s bankruptcy declaration, and later represented an investor group that organized the leveraged buyout of Northwest Airlines in 1989.

Steenland is particular adept at working the halls of Congress to lift regulations on pension funding and any other restrictions on profit-making, and at making use of the services of the labor bureaucracy to cut labor costs. “Since the biggest input is the wages, salaries, and benefits line, this puts a lot of attention on working with our employees in knowing what we need to do to survive in the long term,†he commented.

Last year, in the midst of concession talks with the pilots union, Steenland hired Barry Simon as the company’s executive vice president and general counsel. Simon was a top executive in the Seabury Group, a New York consulting firm whose “restructuring†clients have included Air Canada, US Airways, America West Airlines and Continental.

Simon earned his credentials as an executive at Continental and Eastern airlines, where he served under corporate raider and union-buster Frank Lorenzo. In 1983 Continental filed for bankruptcy—despite the airline’s $60 million in cash reserves—in order to exploit a provision in the Bankruptcy Code allowing Lorenzo to abrogate his contracts with the unions. Simon directed Continental’s legal strategy when it emerged from bankruptcy a second time in 1991.

Simon also played a leading role in the bankruptcy of Eastern Airlines, which stopped flying in 1991 following the bitter strike by unionized mechanics. At the time, Lorenzo and his team stripped the airline of valuable assets and sold them at fire-sale prices to Continental.

The 1980s and 1990s saw the emergence of junk-bond dealers and corporate raiders in the airline industry like Lorenzo and Carl Icahn (who bankrupted Trans World Airlines, among others, and who is now worth $5.8 billion—no. 55 on the list of the world’s richest people).

Today, after nearly a quarter of a century of betrayals by the trade union bureaucracy (from the striking air traffic controllers in 1981 to the present scabbing organized by the airline unions against the striking Northwest mechanics), the corporate executives running the airlines feel even less restraint than their predecessors did when slashing workers’ jobs, wages and benefits and looting company assets to enrich themselves.
:down: :angry: :down: :angry: :down: :angry:

[post="302930"][/post]​

And the company wonders why no one gives a sit
why morale sux and why we wont do anything more than we have to.

Keep setting the example that it is OK to rape your employees and we will keep doing as little as possible

 

[Wretched Wrench]

And the company wonders why no one gives a sit
why morale sux and why we wont do anything more than we have to.

Keep setting the example that it is OK to rape your employees and we will keep doing as little as possible

[post="303120"][/post]​

I am not at that stage yet, but I will aver that the employees who are still doing a good job are doing so only because they are internally motivated. Far too many are what I would call "dead men walking", just showing up and going through the motions, knowing full well that their days are numbered. Or just that things are going to get even worse. Very few of us look forward to a second career in retirement as a greeter at WalMart.

Pope was incorrect. Hope does NOT spring eternal.

Anyone ever study Maslow?

.