Siegel's Bonus

[USA320Pilot]

Webcast Question

ARLINGTON (theHub.com) - Dave Siegel was unable, due to time constraints, to address many of the e-mailed questions sent in for the March 24 webcast. US Airways Today has been following up with answers to the most commonly asked questions. Here's is today's entry:

Q. What is Dave Siegel's severance package? Can't he just walk away with millions of dollars?

A. The contract that the Board of Directors offered to him last year gave him the right to leave the company this month with a severance package, should he so choose. During the webcast, Dave stated that he is prepared to give up the golden parachute in April and that he is committed to stay to make this company successful.

He also said he has told Chairman David Bronner he is prepared to accept a new contract that would make him competitive with the CEOs of low-cost airlines.

 

[fatherabraham]

What is his portion of the 8% of uair that he assigned himself and will he be putting that back into the kitty? 😛h34r:

 

[mwereplanes]

Notice the question itself was not answered completely. Again, generalities and hints just like our recovery "plan". Note the he is "prepared" to give up the golden parachute. And that he is "prepared" to accept a new contract. Prepared is a lot different than has or will. But that is typical of people who lack leadership skills. They rarely make comittments.

Personally, I think he should take the money and run. It would be the single best thing that he could do to save the airline. And whatever it costs us would be cheap.

However, that is unlikely. He thinks the fear he is attempting to generate will cause yet more givebacks and if the CASM is low enough, he can compete with anyone without having to change our structure. He stated he cannot pay us what Southwest makes yet we must compete with them. He states we cannot look like Southwest yet we must compete with them. Listen carefully to what he says. If you can get by the threats and fear mongering it is very apparent he has little idea of what he is going to do. Others have seen this and commented on it. Hybrid carrier? Like America West? Yeah, thats who we need to be like. If we're like them we'll make money.

But he hasn't decided on asset sales. Hasn't decided on PIT. Hasn't decided on 1st class. Hasn't decided on rolling the hubs. Hasn't decided on this, that and the other thing. Except, of course, that we must cut employee expense. He'll get to the rest later. Just when was it that LUV decided to come to PHL? How has he responded? Basically by threatening the employees and wringing his hands. I see no plan. Do you?

Do you see it people? Do you? His singular decision since he got here has been to slash employee costs. Thats it. Period. Nothing else. He has comitted to nothing else. He has talked about a myriad of things. He got the RJ's he said he wanted and now says he can't pay for them. And that is not his fault. He fully expected to gouge the business traveler again to pay for them. And they fooled him. Damn business traveler. How could they be so bold! His ideas are old, worn out and even if they weren't he doesn't have the intelligence, guts, or leadership skills to put them into play anyhow.

Take the money and run Dave. Good luck and thanks for the good times.

mr

 

[speedbird86]

If I were Dave.....and I'm not....I would take the money and walk real fast laughing all the way to the bank. 😛h34r:

 

[RowUnderDCA]

Hybrid carrier? Like America West? Yeah, thats who we need to be like. If we're like them we'll make money.

You put up a straw man, but forgot to knock it down. Sarcasm isn't enough.