A little confirmation

[RockBass14]

Nothing didn't know, and definitely something we are living through, but look who made #1 for ultimate CEO F*ups in 2012. Enjoy a little Christmas laugh, pinnacle folks.
http://bit.ly/T9QNS0

 

[RJLoser]

Great post!

1. Sean Menke, former CEO of Pinnacle Airlines
And the winner of all losers is... Sean Menke of the now-bankrupt Pinnacle Airlines! Back in early April I noted that I'd seen some questionable pay raises in my time, but this one may take the cake as the head-scratcher of them all. Despite filing an extension with the Securities and Exchange Commission reporting that Pinnacle's quarterly filing would be late, Menke filed an 8-K indicating that he'd be receiving a 60% boost in pay to $675,000 from $425,000 -- despite the fact that his airline was far from profitable.
Now here's where things really got interesting. Just 11 days after his pay raise was filed with the SEC, Pinnacle filed for Chapter 11 bankruptcy protection -- on April Fool's Day, no less. I couldn't make this stuff up if I wanted to! Furthermore, activist shareholders had made an attempt to get board representation on Pinnacle in prior years, as management had, in their eyes, not looked out for their best interests -- but they were eventually denied by the board.

 

[dingo222]

they should have added the part where he cried on the all employee call telling everyone how hard bk was on his family, or how he quit a few weeks later. what a ******************************bag

 

[Flyer1015]

There's some history to this. Company memo goes around saying please give APU usage consideration. Save us time and money. 9E pilots did, and for Dec 2011, saved over $330,000. Just one month later, management announced salary increase for two chief positions (CEO and CFO) worth about $330,000. See what they just did there?

 

[airplane wizard]

There's some history to this. Company memo goes around saying please give APU usage consideration. Save us time and money. 9E pilots did, and for Dec 2011, saved over $330,000. Just one month later, management announced salary increase for two chief positions (CEO and CFO) worth about $330,000. See what they just did there?

The pilots should run the apu + both engines at the gate from then on.

 

[1.3XVso]

There's some history to this. Company memo goes around saying please give APU usage consideration. Save us time and money. 9E pilots did, and for Dec 2011, saved over $330,000. Just one month later, management announced salary increase for two chief positions (CEO and CFO) worth about $330,000. See what they just did there?

Multiply that by 7 years when the 99 contract was amendable.

 

[XJohXJ]

Just another reason to vote "no".

 

[frostyboy]

Scumbag!!

 

[WMUSIGPI]

It still doesn't bump Trenary from worst CEO of the decade.

 

[machaf]

It still doesn't bump Trenary from worst CEO of the decade.

At least it was a profitable company when Trenary ran the show. Look whats happened since hes left...