You Knew This About United Didn’t You?

SAN FRANCISCO - AUGUST 11:  A United Airlines passenger has his identification checked at an empty security checkpoint at San Francisco International Airport August 11, 2006 in San Francisco. The Department of Homeland Security raised the terrorism alert to Red on Thursday, the highest level, for commercial flights from Britain to the United States because of an alleged terrorist plot on airline flights. The U.S. government banned all liquids and gels from flights effective immediately.  (Photo by Justin Sullivan/Getty Images)

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I can proudly say I haven’t flown since about September of 2007 and holding out best I can.  There is a scathing and painfully entertaining post over at Conde Nast’s Portfolio.com called Worst Airline Ever.

Let this quote heat up your areas.

One thing that isn’t in doubt, however, is the financial wherewithal of the airline’s upper management.

Tilton and his top executives emerged from the bankruptcy with 8
percent of the new United Airlines and a fast-vesting bonus plan that
the New York Times called "insanity squared." Many of
United’s management team have been flipping their shares as soon as
they vested, yielding tidy profits as the airline’s shares topped out
above $50. But rather than curb their enthusiasm now that the market
has soured on the airlines in general and United in specific, Tilton et
al will pitch a new executive-incentive plan at the airline’s annual
meeting in California on Thursday. If approved, it will create 8
million new shares for the benefit of the top brass.

In
other words, no matter how rough the ride for United’s employees and
passengers, it will continue to be smooth sailing in the executive
suite.

   

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