If Dave Were To Work For $1.00/year...

[Dont call me Shirley]

There have been a number of instances wherein the CEO of a distressed company agrees to work for a $1.00 a year until the company recovers...perhaps the most well known case is Lee Iacoca of Chrysler around 1979-82.
If our CEO were to cut his pay like this (let's say he keeps his signing bonus and pay up until now) would you see this as merely a symbolic gesture or an example of "shared sacrifice"?

Granted, CEOs who do this are still able to live well: Mr Iacoca did not have to sell his mansion in Grosse Pointe (or where ever he lives) and move to a garden appartment in a distressed section of Detroit. Or give up a limo for a '79 Chrysler compact (now that truly would have been a sacrifice ) But, as I recall, it was taken by many in labor, business, and government as more than an empty gesture. And did help, if only in a small way, Chrysler to recover. (So did the rest of his PR campaign).
I think the CEO (I cant remember his name and don't feel like doing a Google search) of Moulden Mills, the textile company. did the same thing after their plant burned down.

If Dave were to do the same, would you see it as more than a symbolic gesture?
Or mere window dressing?
Yes, the man is wealthy, but 750K is not chicken feed. I would like to think that such a move would help to better some of the very negative atmosphere that we have seen. The money saved would not make a difference, nor would it help an expressed agent or reserve F/A to pay the bills. But it would give some meaning to "shared sacrifice". And give some PR value.



Let the flames begin!

 

[PITbull]

Dave makes $600,000 now with his 20% pay cut. Yes, he did get the sign on bonus which made his 2002 earnings total compensation approx 1.3Mills. Not bad for a BK company. However, IMO, whether he takes $1 or $600,000, makes no difference to me. I am not concerned with his salary. I am focused on his disrespect and disregard of the employees here at U WHO HAVE sacrificed and continue to do so with their sweat and tears and job sacrifice.

I have had it with this team. The violations of the contract MUST stop. Period.

Dave gave us back the 5%, and that took much doing on the part of the employees. He should have left it at that and seized the moment to rebuild morale. BUT HE DID NOT. He now punishes the employees and seizes opoortunities to steal from his employees whenever and wherever he sees that he can.

He is killing his workforce. The concept of a successful restructuring by this mangement, is "circling the drain", as one poster said.

This mangement can not get out of its own way. They can't help but steal from the employees by ignoring language or making up language as they go along. Most of the employees that have been given an opportunity to talk about this experience have given up totally. Some just want to be terminated so they can at least collect unemployment. Others don't care what happens.

Our workforce has become very emotionally ill, and the fear and anxiety has turned into "indifference" and "apathy" which is by far the worst attitude to set in. I hate to see this.

So, Management... go ahead....BRING IT ON!

 

[exagony]

Its amazing how you are so quick to suggest someone else should work for $1 a year. Why don't you? Dave gets what the market pays him for his percieved skills and so do you and I. You may not percieve that it is fair, maybe it is - maybe not, but if you want his money go out and earn it. Stop bitchin and go out and get the education and skills to be in HIS position and then you'll make his 600K a year. Otherwise stop the infantile whining.

 

[ITRADE]

Its amazing how you are so quick to suggest someone else should work for $1 a year. Why don't you? Dave gets what the market pays him for his percieved skills and so do you and I. You may not percieve that it is fair, maybe it is - maybe not, but if you want his money go out and earn it. Stop bitchin and go out and get the education and skills to be in HIS position and then you'll make his 600K a year. Otherwise stop the infantile whining.

Yup, here we go again with the class warfare argument.

Hey, if you want the big $$$, quit wasting your every breathing moment on the computer, go out get yourself a B.A. from a good to top level college (we're talking USNWR Tier level 1 or 2), go to U Penn or Harvard and get your MBA, and then come talk to us.

Folks that go through the hoops get paid because they've demonstrated that they can do the academic work worthy of an advanced degree and commensurate pay level.

 

[PITbull]

Itrade,

Hope your not talking to me....I don't give a rat's ass what he makes at this point...read the post again, if you can read and if your insults are directed at me again. You make a hell of alot of assumptions when it comes to the employees here. We are more educated than you can imagine, and just because we took an airline job, does not make us "flunkies". Just proves your ignorance.

 

[ITRADE]

Itrade,

Hope your not talking to me....I don't give a rat's ass what he makes at this point...read the post again, if you can read and if your insults are directed at me again. You make a hell of alot of assumptions when it comes to the employees here. We are more educated than you can imagine, and just because we took an airline job, does not make us "flunkies". Just proves your ignorance.

So, if you're so damned smart, then why don't you apply for the CEO job - at $1.00 a year....C'mon you've got a MBA, right?

Instead, you're too busy sucking up your local's union dues, drinking coffee, and spending all day posting on message boards.

 

[PITbull]

and second look at your # of posts and tell me who is calling the "kettle black".

You, Mr. Assumption, don't know the first thing about me, and do NOT claim to know who you think I may be.

 

[ITRADE]

Let me insult you for a moment...first you are an idiot, and second look at your # of posts and tell me who is calling the "kettle black".

You, sir, don't know the first thing about me, and DO not claim to know who you think I may be.

I know a lot more about you than you think.

And, we're talking about 170 posts a month out of you since December 2002 - when you registered.

 

[pitguy]

ITRADE,

Did you read above where PITbull stated "However, IMO, whether he takes $1 or $600,000, makes no difference to me."? It appears you may be wrong in your comprehension of what PITbull implied.


--I swear sometimes it is like talking to your own hand.

 

[PITbull]

LOL....in your dreams, Pal.

Thank you for the compliment, though.

 

[pitguy]

ITRADE you need to update your website. It looks bad and really needs updated or shut down.


--Kinda like having a hot date with my grandma.