Mitch Cronin Posted February 14, 2004 Share Posted February 14, 2004 ...from their site: "On CBC TV: Sundays at 10:30 PM On CBC Newsworld: Sundays at 9:30 PM, Mondays at 12:30 AM This week on Venture: Sunday, Feb. 15: The Hostile Skies If Hong Kong businessman Victor Li is successful in his bid for Air Canada, CEO Robert Milton will get a $21 million bonus. And that's got Air Canada employees mad. More than a hundred of them got in touch with Venture, and Pamela Sachs - for the flight attendants union- and Don Johnson - for the pilot's union are condemning the bonus that's being given at the same time their membership is being asked for concessions. A former CEO at American Airlines has a story similar to Milton's. Don Carty was forced to quit after he took a hefty bonus in the middle of worker negotiations when employees were being asked to scale back. He says he made a mistake. Has Robert Milton? Are travellers paying the price for unhappiness in the ranks? And will Air Canada ever see blue skies again?" Link to comment Share on other sites More sharing options...
Guest RKM Posted February 14, 2004 Share Posted February 14, 2004 How do these CEO's sleep at night? Link to comment Share on other sites More sharing options...
Mitch Cronin Posted February 14, 2004 Author Share Posted February 14, 2004 With a pretty comfortable pillow I guess. Count me as one who doesn't feel the same sense of outrage at the bonus issue... It's not our money, it's Victor Li's to give... Should Milton say, "ahh, no thanks."? I doubt I could, and I doubt there's too many souls who would. Link to comment Share on other sites More sharing options...
Vsplat Posted February 14, 2004 Share Posted February 14, 2004 If I were a man as busy and rich as Mr, Li, I would try to put as much pressure on the Milton-Rovenscu team as I could manage. If there was a way to do that with no effort and I had spare cash to implement it, perfect. $20M is a fire and forget missile. Victor doesn't need to put pressure on these two. They now have tens of thousands of folks micro-managing them to see the money is well spent. That is, of course, if they survive in the corporation long enough to see it all. The question was asked, who would say no? Part of me wonders if this was a test. Are these two so jaded and hateful of their own staff that they would take such an outrageous perk while their folks were dying? Or will they swallow hard, and actually say, "Sir, I would rather not do this while so much bad is happening to my people?" A test of character. Failed. Later on, when Mr. Li has decisions to make about these two, is he not free to use the measure they themselves applied? We'll see. Vs Link to comment Share on other sites More sharing options...
Guest Starman Posted February 14, 2004 Share Posted February 14, 2004 Agreed. It's a test of character. Failed. Link to comment Share on other sites More sharing options...
Guest neo Posted February 14, 2004 Share Posted February 14, 2004 Very interesting idea. Thanks for mentioning it. Hell of an expensive character test, but who knows: the ways of the east are inscrutable. Link to comment Share on other sites More sharing options...
Flapsforty Posted February 14, 2004 Share Posted February 14, 2004 Mr Li needs RM and CR to do the best job for him during the restructuring. After that they'll be looking for work, within six months, I'd say. I think they know this so why not take the money? Who cares who gets mad at them. Look to Husky Oil, same thing happened there. Link to comment Share on other sites More sharing options...
Guest Posted February 14, 2004 Share Posted February 14, 2004 we must all remember that the Milton social fund is based on a 4 year performance, so either Li wants him around for another 4 years or it is a ruse. Link to comment Share on other sites More sharing options...
Guest fly Posted February 14, 2004 Share Posted February 14, 2004 Some say counting money has similar effect as counting sheep: 1 million, 2....fall asleep before 21 for sure! Link to comment Share on other sites More sharing options...
Fido Posted February 14, 2004 Share Posted February 14, 2004 From what I have heard about Husky oil is that Li gave everyone a chance to be good and worthy to the company. He then cut and replaced the ones that proved to be otherwise. Some were gone within six months, others took longer to hang themselves. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.