One thing about Lakefield that distinguishes him from the other "leaders" of US Airways -- he's made some tough command decisions.
Nobody wants to go into bankruptcy, ask for paycuts, or close down operations.
But it had to be done, and he did what he could with the tools and resources at his disposal.
I don't agree with the decisions made by Lakefield and Bronner. But the fact remains that they made some difficult decisions and, based on some of the 2004 layoff data just released last week, 90% of the employees are still receiving a paycheck and have some level of health coverage.
Had the paycuts not been imposed in October, my guess is that US would have probably run out of cash at some point during 4Q04. Maybe someone like mweiss can run the numbers...
Leaders sometimes where two hats. There's the concensus builder, which is what Iococca championed, and there's making tough decisions, which is what Jack Welch is known for.
Ideally, as a shareholder I want both qualities in my management team, but if I have to pick one over the other, I'd rather have someone who was trained to launch nuclear missles over a touchy-feely-group-hug type.
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