Yeah, I kind of saw this coming, but it still pisses me off:
The U.S. trustee overseeing American Airlines' bankruptcy has asked the carrier to justify its offer of $19.9 million in severance pay to Chief Executive Tom Horton, part of compensation linked to its merger with US Airways Group.
American spokesman Andy Backover said in a statement the carrier did not believe the objection filed by the U.S. Trustee's office had merit. The matter is scheduled to be considered by the U.S. Bankruptcy Court on March 27.
The company said the proposed employee arrangements were found to be reasonable by pay consultants retained by its unsecured creditors committee.
Let's review. Horton's contributions to American Airlines included:
Well, that's all I can see, and I've spent about 300 hours on their airplanes since he took the job. Seems like he's worth $20 million to me!
And those "pay consultants?" Three guesses who signed the checks. Any "pay consultant" who finds that the executive paying him is himself paid too much doesn't deserve the title.
Given events like these, it boggles the mind that people think corporate executives are thieves.