Seiple: You want executives to work for their money. Yet you say they should just be given all of it cash.
No. I just want 'guaranteed' compensation to be salaried and regular. Let bonuses be for work above and beyond, and tie all bonuses to the performance of the company, not just of your section. A company is a collection of people working for shareholders, not fiefdoms of independent departments all competing. Other companies do that: if there's no profit, there's no bonus, plain and simple. That way, you're not rewarded for being more cutthroat then your peers at crapping on other parts of the company's operations.
Having bonuses be a large portion of compensation is a good thing. They then have more of an interest in the operation of the company, not an attitude like most with fixed hourly wages who will get the same pay for the same length of working time no matter how much or how little effort they put into it.
Please. Rubbish. If these execs who are attempting the money grab were truly motivated to work for the company in return for their bonuses, they'd see that they're not entitled to their bonuses because the company they run has hit rock-bottom and is bankrupt. Bankruptcy is not a glowing endorsement of the great job you've done.
Unlike most workers, high executives in corporations like US Airways aren't easily replaceable by any person off the street.
You're right. People off the street would have to un-learn common sense to work for US Airways. US execs have for years stuck to an unsustainable business model that simply DOES NOT WORK. Who's the moron after all?
FDXMech: IMO the chase to raise stock prices as first and foremost puts the cart in front of the horse. Run a successful airline and increased stock prices will follow.
Of course. I never advocated an artificial inflation of the stock price, and in today's environment, one wouldn't occur. Anything that even smells fishy would depress the price below what it is today. Any stock price growth will be through genuine change at US.
Seiple: The hype, while misplaced, is a basis for how many executives are chosen. Whether it is correct thinking or not, tell me how likely it is the US Airways board of directors hires some 20 year old right out of community college into one of the high echelons of management. It is very unlikely.
Guess what? It's time for US to think outside the box. I know that means hiring blue-haired, non-stodgy people to actually come up with some fresh ideas, but US has run on the retreaded ideas of it's dinosaur middle managers for years. Look where it's got them.
The underdog and the rebel have always been shunned. Almost without fail, the ignored rebel rises up to the challenge and sometimes beats the Goliath it faces. Cases in point: Southwest. US could use some People Power about now. Time to abandon the execs who are so dated that oxygen is available at their desk and replace them with a 'kid' who might just have the new idea that will help them succeed.
Seiple: Is a financial institution more likely (in practicality, not idealism) to grant loan extensions, or a loan period, to a company headed by somebody with industry experience and education from a top school or the newly-graduated-from-community-college exec with little or no experience but a lot of good ideas?
Is a financial insitution more likely (in practicality, not idealism) to grant loan extensions, or a loan period, to a company headed by relics of another industry era with industry experience and education from a top school that's doing them no good in actually turning a profit, or someone who might have a fresh look at the status of the industry who can find a way to thrive by changing the way the company operates?
However, I'm saying an exec should receive the bonus as specified in their contract. They have a contract of employment just like those pilots do.
You can look at my previous posts. Many times, I've come out swinging against the pillage-prone pilot unions for literally extorting the carriers to see things their way. Just because there is a contract doesn't make executing that contract the ethical thing to do.
Ethical behavior by an exec? Now that's a shocking idea!