HankB
I hear bits and pieces in the news about this airline union or that airline union "negotiating" with management, but I have NEVER repeat NEVER heard of the union demanding that management (President, CEO, Board of Directors, etc.) set an example by cutting their own compensation (including salary, bonus, Golden Parachutes, stock options, etc.) a like percentage. Does this ever come up, and with what outcome?
Believe it or not, you've touched on a nerve with many union members here (and I suspect as well among non-union employees).
Firstly, I don't think it is common at all for an employee to "demand" that a boss take a pay cut. It just isn't done...at least it isn't done without jepardy to one's own job.
Regarding union negotiations and management cuts...these sort of things do happen, but they are
very informal and off-the-record. A management negotiator will propose a cut of X%, and the union counterpart will respond that he can't bring that back to the rank-and-file unless there's some accompanying cuts from management ranks. It does happen, but I doubt you'll see anyone put out a press release regarding it.
Your larger point that management/executive pay and benefits have
far oupaced labor is well taken. I think that a better place to correct this situation is in the stockholder's meetings. Most of us are stockholders today--either through outright stock ownership, mutual funds or 401k plans. However, I'd venture that most of mutual fund owners/401k owners have
no idea in what sectors or companies our monies are invested in. Most of us just glance at the quarterly balance, and if it's going up about how we expect, then we quit thinking about it (and prepare for our next shooting adventure
). How the companies in which we're invested pay their executives is even further down our list of interests. IMO, until the average American pays attention to what is going on in the companies they're invested in, this type of Executive/Board of Director abuse of the company's treasury will continue.
