Timmypig
Well-Known Member
"Hard Landings" by Thomas Petzinger Jr details the battles of the industry up to mid-1990s - covers the demise of Pan Am, Eastern, Braniff, labour battles, 'B' scales, selling of lucrative routes, Ch 11, etc etc but most significantly CEO EGOs (can anyone spell Lorenzo?)
Just finished this book, and I found it difficult to put down each night. Not sure if it's still in print, and this edition doesn't go up to the latest travails.
Just finished this book, and I found it difficult to put down each night. Not sure if it's still in print, and this edition doesn't go up to the latest travails.
flyover
New Member
[ QUOTE ]
"Hard Landings" by Thomas Petzinger Jr details the battles of the industry up to mid-1990s - covers the demise of Pan Am, Eastern, Braniff, labour battles, 'B' scales, selling of lucrative routes, Ch 11, etc etc but most significantly CEO EGOs (can anyone spell Lorenzo?)
Just finished this book, and I found it difficult to put down each night. Not sure if it's still in print, and this edition doesn't go up to the latest travails.
[/ QUOTE ]
Good book, I've got it somewhere.
You mention CEO egos in the plural. Most of the CEOs of major airlines coming into the nineties were extraordinarily dedicated airline people. Remember this preceded the big CEO salaries and bonuses which are a relatively recent phenomon. These were high quality people in a rough industry where it was hard to make a buck .
This changed some after the Lorenzo influence. One of the things that Cotinental had to do to get back on track was bring in some good airline people, like Hollis Harris. The unions at United made it so no airline people were interested in that job. Other airlines that were in trouble looked outside the industry. Delta had a homegrown CEO who wanted to prepare the company for the coming decade to be able to compete on cost. He was driven out because the medicine was just too bitter. And when a high-priced outsider was brought in ALPA was one of the biggest cheerleaders.
My point is that one of the strengths of the industry was the dedicated, hardworking company leaders that built it. You still see that at SWA, for example. The super high pay and bonuses came out of the stock market boom of the nineties. No one cared what CEOs made as long as their portfolios were climbing. After the bubble burst it was suddently "discovered" that CEO pay had gotten out of hand. Some of the airlines played this game too.
Yeah, CEOs have egos. It's not too surprising. They are usually very hard working, high achievers with a lot of self confidence. The type you would want leading an organization. Juan Trippe, Bob Crandall and Herb Kelleher are examples of big egos. But also good leaders. But the ones that are remembered most fondly are the modest ones, like Delta had for most of it's existence.
Dave
"Hard Landings" by Thomas Petzinger Jr details the battles of the industry up to mid-1990s - covers the demise of Pan Am, Eastern, Braniff, labour battles, 'B' scales, selling of lucrative routes, Ch 11, etc etc but most significantly CEO EGOs (can anyone spell Lorenzo?)
Just finished this book, and I found it difficult to put down each night. Not sure if it's still in print, and this edition doesn't go up to the latest travails.
[/ QUOTE ]
Good book, I've got it somewhere.
You mention CEO egos in the plural. Most of the CEOs of major airlines coming into the nineties were extraordinarily dedicated airline people. Remember this preceded the big CEO salaries and bonuses which are a relatively recent phenomon. These were high quality people in a rough industry where it was hard to make a buck .
This changed some after the Lorenzo influence. One of the things that Cotinental had to do to get back on track was bring in some good airline people, like Hollis Harris. The unions at United made it so no airline people were interested in that job. Other airlines that were in trouble looked outside the industry. Delta had a homegrown CEO who wanted to prepare the company for the coming decade to be able to compete on cost. He was driven out because the medicine was just too bitter. And when a high-priced outsider was brought in ALPA was one of the biggest cheerleaders.
My point is that one of the strengths of the industry was the dedicated, hardworking company leaders that built it. You still see that at SWA, for example. The super high pay and bonuses came out of the stock market boom of the nineties. No one cared what CEOs made as long as their portfolios were climbing. After the bubble burst it was suddently "discovered" that CEO pay had gotten out of hand. Some of the airlines played this game too.
Yeah, CEOs have egos. It's not too surprising. They are usually very hard working, high achievers with a lot of self confidence. The type you would want leading an organization. Juan Trippe, Bob Crandall and Herb Kelleher are examples of big egos. But also good leaders. But the ones that are remembered most fondly are the modest ones, like Delta had for most of it's existence.
Dave