NY Times columnist (and actor of "Bueller. Bueller. Bueller." fame) Ben Stein eviscerated United Airlines’ management in a column yesterday, basically accusing them of screwing over employees for their own financial gain. Discussing the employee ownership fiasco at the airline, he says:
So here it is in a nutshell: employees are goaded into investing a big
chunk of their wages and benefits in UAL stock. They lose that. Then
they lose big parts of their pay and pensions. They become peons of
UAL. Management gets $480 million, more or less. "Creative
destruction?" Or looting?
…Management is using competition, higher fuel costs and every other cost
complaint to cut the pay and pensions of its own employees while
Nothing you haven’t heard before, but it’s well worth a read.