With 48% of revenues eaten up by employe salaries, the company will implode. Creighton, the CEO called out of retirement, has seen the writing on the wall and has already bailed out ...after only a few months in office.
And for a corrupt board of directors to have given Goodwin, the ex CEO, a 6.3 Million "Golden Parachute" severence package, speaks of a compensation philosophy that is not commensurate with carrier operating profits.
Employe ownership is a failure. A management conflict of owners managing themselves is equivalent to incest. Without strong surgery, UAL is going down.
