Message 6/27
Date: 02-May-03 @ 09:23 PM -
RE: Redundancies
Yeah - that pisses me off too. I'm usually the lone voice around here saying that businesses aren't ALL bad, but when you see thousands getting laid off, and see the CEO's and board members walking off with 7 figure SALARIES, not to mention stock options, it really chaps my ass.
However, if you would care to pick up one of the most recent issues of Business Week, you'll see that many big bosses are NOT talking salaries like they used to. There seems to be a trend towards deflation in upper management salaries. For example, in 2001 (I think), there were 7 people of US companies who brought home over 100 million dollars (US) annually. Last year, there were only 2 people. Many CEO's have actually given part of their salary back.
Did you see the recent one about American Airlines? They were negotiating salary decreases for the flight attendants, and the fa's agreed to significant cuts, and then within a week, the CEO decided now is a good time to show the perks that the board members were getting. So now AA is in the shitter, and it couldn't happen to a better industry!!
Anyhow - what comes around goes around.