dispatches from the new world of work

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Wall Street Journal, p.1, Section B, 12.19.2005:

Para #2: "US Airways Group eliminated health coverage for 28,000 employees and 10,800 retirees late last year. But the financially ailing airline had already guaranteed departing CEO David Siegel and his family medical coverage for life."

Para #4: "Health care is essential for our employees, and I live with the same plan as everyone."—Tom Wolf, CEO, STS Consulting (600 employees in 14 states)

Tom Peters posted this on 12/21/05.

Comments

Suprise! You know what they say....do as I say, not as I do. Does he have any sons I can marry?

Posted by Rachel at December 21, 2005 4:47 PM

If executive compensation plans are large because of the amount of stress a CEO experiences, then why doesn't the single mom who lives pay check to pay check and experiences probably even more stress get a offer of health care for life? Doesn't make a lot of sense to me, but corporate compensation is way out of wack and needs to be fully exposed. US Airways is a joke and I do not fly the airline because of their quality. I exercise my decisions with my pocket book. Maybe the corporate world will one day get the message.

Posted by snxs at December 21, 2005 10:33 PM

This stuff just makes my stomach turn. Executive compensation is ridiculously out of control. Peter Drucker once said he never met a union that managment didn't deserve. I predict that after a downturn in membership, this issue will spark a new union resurgance in the US, especially organizing white collar workers. I am not saying this is a good thing, just a predictable thing. I have been fortunate to work with many celebrated CEO's and quite frankly with some of them, timing is everything! Capable? yes Lucky to be in charge when the market returned? Absolutely

Posted by mike neiss at December 22, 2005 5:17 AM