What have you been drinking tonight Sparrowhawk? Are you at the fundraiser also? This is what happened to someone else who partook too much in Phoenix and then got bad news. The Franke Air Team disappointed us all that night.
DUI - 2007
U.S. Airways CEO Doug Parker's stop at the Birds Nest
The sweet life indeed. U.S. Airways CEO Doug Parker banked more than $11 million in his most recently reported compensation package. So, it's understandable that Parker would use a few of those hard-earned pennies to buy himself a cold one this past January 31. After all, Parker had just lost a $9.8 billion bid to take over Delta Airlines.
Problem is, according to media reports at the time, Parker bought himself a few too many consolatory drinks, and then he decided to drive himself and his drinking buddies home from the exclusive "Birds Nest" revelries at the FBR Open.
About 11:30 p.m., Scottsdale Police sergeant Mark Clark spotted Parker's speeding, swerving BMW and pulled him over. The police report tells the rest: "I observed/detected the following: bloodshot eyes, watery eyes, odor of alcohol on the driver's breath. Speech was: slurred," Clark wrote.
When the New York Stock Exchange closed that day, U.S. Airways stock (LCC) was selling for about $56 per share. Since Parker's DUI, the company's stock has plunged to about $30 per share.
You do the math.
Oh, okay, we'll do it.
Multiply U.S. Airways' 91.5 million outstanding shares by a loss of $26 per share, and crude math calculates the company has lost about $3 billion in market value. Granted, there are more factors at play than Parker's one-too-many. Still, we award Doug Parker a "Best of" for both the most expensive beer and for single-handedly manipulating a publicly traded stock.
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