DirkkDiggler said:
Anybody can be a shareholder. That doesn't mean that just because you own stock, you know how to run the company. That's a ludicrous thought. Perhaps you think the company should be run differently but can you honestly support your statements with any facts. Do you REALLY know how the company is run on a day to day basis. Are you aware of all the costs, all the pressures from big shareholders (not Joe Bloggs pilot with $400 in shares), and every other detail and concern the CEO has to think about. If you're not involved with this stuff, you are just making blanket statements about how you wish the company were run so that your life may be better. That sounds ignorant and unrealistic. You are entitled to your opinion but please support your claims that the CEO is doing a poor job with REAL facts.
Point taken. I agree that blanket statements can be made by anyone.
My facts are: a) He is the CEO of the holding company and has nothing to do with the day-to-day operations of either airline as he has said himself, b) under his watch Big Sky has yet to earn a profit and Mesaba has gotten smaller, c) he said both before and after 9/11 that we had "so many growth opportunities I don't have time to read them all" and yet we have gotten smaller, d) he refuses to address our employees directly even after repeated requests from labor groups.
If a CEO does a bang-up job, I agree s/he should be compesated well. I am not naive enough to think we will all make the same. Frankly, a good CEO should be compensated well.
My beef with Foley is that he has been all talk since day one. Spanjers, the COO of Mesaba Airlines, works like a madman and should make a ton. Foley went to Holdings so he could "grow" both airlines. Since he has been here that has been quite the opposite. Also, he purposely stays OUT of the negotiations and budgetary decisions. He oversees them but in a very "hands off" manner, leaving that to the CEO/COO of the respective airlines, Big Sky and Mesaba.
And for those of you who say he must be doing something right, keep in mind all of these guys are in bed together. Look at the list of most company boards and you will see common threads all over the place.
I agree that just because someone is a "shareholder" doesn't make them educated. But you still get a vote. Being a citizen doesn't make you smart, but you still get a voice in who becomes president.
My gripe was NEVER against CEO salaries in general. Just one man who in my opinion makes well more than he should for a job he is not doing.
But your point was good. I appreciate your feedback.
.
