Leading By Example

[EyeInTheSky]

Delta wages cut 10%, CEO forgoes pay

Despite drastic cuts, company still warns of bankruptcy in weeks if pilots do not make concessions.
September 29, 2004: 7:09 AM EDT



CHICAGO (Reuters) - Delta Air Lines Inc. said Tuesday it will cut wages by 10 percent and its chief executive will go unpaid for the rest of the year, but it still warned of bankruptcy within weeks unless more cuts are made.....


http://money.cnn.com/2004/09/29/news/fortu...dex.htm?cnn=yes

 

[EyeInTheSky]

Doesn't the following just tell you how mis-managed US Airways is?:

"Meaningful cuts
Joe Schwieterman, transportation expert at DePaul University, called the 10 percent pay reductions "real and meaningful cuts."

"Grinstein is taking a bold preemptive move to take a potentially explosive issue off the table if the cuts aren't fairly distributed," Schwieterman said. "This will help ease fears that (pilots) are being unfairly singled out."