Bankrupt American Airlines Joins the Greed Parade

Chutzpah and gall are the words that come to mind in consideration of the $19.9 million severance package bankrupt American Airlines seeks to bestow on its Chief Executive Officer, Thomas Horton, with no objection from him, of course. 

This enrichment would be reprehensible enough were the company in excellent financial condition and pulling its own weight, but this is an entity which is exploiting bankruptcy law to walk away from debts the company has accumulated as it merges with U S Airways. No matter the condition of a large corporation, it seems that there is always plenty of money to take care of those at the top, to lavish on a rich man so as to ensure that he always has possession of more than he could ever spend, this for the "stellar" job he did in guiding the company to the point at which it could only survive if it joined forces with another airline.

It is gratifying to note that a Bankruptcy Judge and the Justice Department are challenging this unbridled greed as a violation of the Bankruptcy Code. At least it brings the matter to the attention of the public. I know, though, that where there is a will, there is a way.  What is immoral and unethical is likely to prevail when the dust has settled.  I would say, "shame on American Airlines and Mr. Horton", but there is no shame in today's corporate world, in which those at the top get richer by the day and those at the bottom sink further down the totem pole.