After Mismanaging Their Companies With Stock Buybacks And Lucrative CEO Pay Packages, Airlines Demand Another $25 Billion From Taxpayers
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The velocity and the severity of the decline is breathtaking.
There is no question this is a severe recession for our industry and for us, and it's a financial crisis.
Nancy Pelosi is asking for $2.4 trillion dollars to bailout.
Congress should quickly extend $25 billion in new payroll assistance to U.S. passenger airlines furloughing thousands of workers as air travel remains down sharply amid the coronavirus pandemic.
It pains me that through no fault of any of you, we have to take these next steps.
Managers and the board of directors will also take pay cuts.
Agreeing to discussions is very different than agreeing to concessions. We should not be in any rush to make shortsighted moves when we lack the clarity we need to make informed decisions.
NYU Professor Scott Galloway wrote on his pull-no-punches No Mercy / No Malice blog.