I have been justifiably hard on the people who run airlines and their careless attitude towards the comfort and satisfaction of their customers. I have reserved the most bitter scorn for the overpaid executives who would prefer to layoff the working stiffs and cut service rather than take a cut in their own compensation.
So I must take a moment and recognize at least one CEO making a move in the right direction.
The new honcho at JetBlue, David Barger, has taken a personal pay cut of 50% for six months. $250K instead of 500k the article says. If my math is correct, that is actually more like a 25% cut in his annual pay. Still, it is a gesture worthy of note. These guys get huge bonuses when business is good. It is typical for a C-level manager to take full credit - and perks - when business is good. But when things are bad they blame slow demand, weather, sunspots, price of gasoline, seasonal trends, etc. I kinda like a guy who acknowledges that the boss should get dinged along with everyone else.
I doubt that this is going to spark a new trend in responsible CEO salaries, but you never know...
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