Letter to the Editor: Familiar sound
BY John C. Schmidt, Tulsa
Saturday, November 24, 2012
11/24/12 at 3:24 AM
Same song, next verse. Now it's Hostess' turn, moaning that workers' burdensome wage and pension demands have brought the company to its knees. Sounds somehow like American Airlines. Sounds somehow like auto manufacturers.
My question is, "Who agreed to the wage and pension demands in the first place?"
Didn't "executive management" do so? Wouldn't that be the same executive management that is now liquidating the company that paid themselves hefty 80 percent salary increases last year and now wants to pay themselves a 75 percent bonus for "staying on?"
Let's understand this clearly: The same masterminds who managed the company into bankruptcy also want to pay themselves huge benefits on the way out the door.
We see this over and over again, and it's frustrating because it's only in retrospect that their mistakes are recognized. But when it happens repeatedly I wonder if "executive management" isn't a misnomer for "executive mismanagement."
Sadly, thousands and thousands of workers who don't get those great benefits are also left without jobs or prospects. Those with "executive management" experience are usually snapped up by other companies eager to benefit from their experience, and the cycle perpetuates itself.
Letters to the editor are encouraged. Send letters to firstname.lastname@example.org.