CORPORATE GOVERNANCE

CORPORATIONS HAVE ONLY ONE MASTER
MONEY AND GREED GUIDE THOSE WHO MAKE DECISIONS

The last two months have caused all Americans to recoil at the devastation that is occurring in the Gulf of Mexico because of the tragic oil spill that continues unabated. We are all devastated by the destruction of our environment and the damage that has been done to a region of our country that is vital to all of us. Our fisheries have probably been permanently damaged and a way of life for millions of workers has been put on hold.

Everyone knows that a large percentage of the seafood that Americans consume nationwide comes from the gulf and we all understand the calamity that this industry has already suffered. What about the related industries; tourism, processing, airlines, etc? All of us fear that this unnatural disaster will destroy the financial lives of millions of American workers and their families’ financial future.

What is disturbing is BP’s answers to the troubling questions posed to them since the outset of this man-caused disaster. Their CEO has been quoted by various news outlets saying some of the most outlandish and disturbing comments that have angered Americans and most of the rest of the world.

His cavalier responses to questions posed by reporters have been less than honest or even accurate. He has stated that this spill is not an environmental disaster but a minor problem. His assessment of the flow rate of spill was initially only 1000 barrels a day or 42,000 gallons. His company’s accident response plan was fabricated and made out of whole cloth in an apparent hastened way to save money. He insisted that his multi-national conglomerate company had a plan in place to deal with a spill ten times larger than the one now occurring and he wished that “he could have his life back” and felt inconvenienced by the whole affair.

In other words; he is plays fast and loose with facts! Why? The whole world is watching and he is dealing with the most powerful nation in the world. Why would he convolute the truth and tell unabashed lies to America about the situation?

He does this because his primary responsibility as a CEO of a major international corporation demand that he show loyalty to those who hired him and pay his salary; to those who buy shares in BP. He is merely standing up for the people who lavished upon him the lifestyle that he so sorely misses when he wished he had his exorbitant lifestyle back. He is representing those who hired him not those who suffer from the mistakes his enormous company has made.

What does this have to do with us and Delta Air Lines? Ask yourselves what do you think the Delta Board of Directors and Richard Anderson would do in a similar situation?

They have only one loyalty and that is to keep the price of stock high in order to bring value back to those who allow our upper management team to continue their lavish existence. When Richard Anderson tells employees not to unionize because he will take care of all of them without representation, do you really believe him? His primary responsibility is to those who pay him, not to those who successfully process passengers every day. Promises of the past will quickly be forgotten during downturns and unforeseen problems that are always presenting themselves in the ever changing airline environment.

We need, now more than ever, representation as employees of the largest airline in the world (for now!). We cannot rely on those who would lie to the world about what they have done just to continue their enriched lifestyle. We would all “like our life back” and the only way to ensure that happening is to unionize Delta and have competent representation through the IAM going forward. Victory will gain us permanency and stability; it is the only way.