Northwest Airlines bones employees?

[cbloom]

OP, this [censored] is so standard. Execs use "hard times" as an excuse to tighten the belt and cut salaries or not give raises. Of course when the good times roll around they don't share the windfall with employees. I've seen it over and over at the small companies I've worked for. The budget's tough so they can't give bonuses this year, but the CEO who hardly works still pulls huge dough. In theory the solution is to strike, but you aren't even allowed to do that in the airline biz, and in general the power of unions has been destroyed by corrupt union bosses and a government that doesn't punish illegal union busting.

[guids]

I dont get why people hate the guys who learn to play the game right.

[NicksDad1970]

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I dont get why people hate the guys who learn to play the game right.

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My guess, and it's truly just a guess, is more people know someone that was one of the people that got screwed.

I don't really know someone that got screwed this way but, for me, I can't fall in love with someone that got rich by totally undermining and screwing others.

I really don't have the knowledge to argue with you about this subject. But how would you feel, for example, if someone you really cared about worked for a company for the better part of their life only to lose all their retirement. Then seing that the CEO just received a huge sum of money?

Maybe it's just me but I think people can get ahead while still being honest and caring about the people under them.

[4 High]

[ACer] Way to go CEO! [/ACer]

[jjp]

The CEO deserves $26M. He talked the employees into pay cuts and pension cuts. That's one hell of a salesman. He certainly outsmarted the employee unions.

[Leaky Eye]

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Uh, thats business no?

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It is business, but should it be? Should a company who asked all of it's employees take a huge pay cut then turn around and give huge paydays to overpaid CEO's? Obviously not. It just fly's in the face human decency and our corrupt government is in no place to do anything about it. I like money as much as the next guy but there is only so far I am willing to stretch my own personal morals to obtain said money. I could not take that money and live with myself. God I'm such a [censored] hippie. Can you tell I went to University of Oregon in Eugene and now live in Portland? I do drive a gas guzzling SUV so my hippieness only goes so far I guess.

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This is just retarded. The CEO is paid by the board. The board represents the owners. The owners are probably very happy he pulled them out of bankruptcy by controlling costs, and happy to give him a decent bonus. Also, often in these cases he has negotiated this up front with the board. Hit these targets, get this bonus.

[Leaky Eye]

Nobody got screwed genius. If they didn't take the cut they all lose their jobs.

[Leaky Eye]

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The budget's tough so they can't give bonuses this year, but the CEO who hardly works still pulls huge dough.

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I hate to break it to you, but you are just a cog. If you have a bad CEO nothing you do is going to matter.

[NicksDad1970]

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Nobody got screwed genius. If they didn't take the cut they all lose their jobs.

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Thanks for the compliment jerk.

Often when people take a paycut it's because they're told when/if things get better they'll be rewarded. Or at least get their wages back up to where they were prior to the cuts. People also do this so they will still have "X" # years with the company towards their pensions.

[TimM]

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Always look out for number one.

I worked for a fledgling startup for 2.5 years with no raises, and then they decided to reach breakeven by cutting 1/3 of the workforce and giving everyone else a 30-40% pay cut. We were all expected to sacrifice so the company could stay in business. I gave my notice that day.

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how they doing now?

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They lingered on for a long time, geting rid of almost all the employees except for one programmer, one tech and the manager. I heard the company was just sold, though I can't imagine there was much to sell.