The American Airlines bankruptcy has resulted in major layoffs, steep pay-cuts, drastic work-rule changes and severe reductions in medical benefits to current employees and retirees. Yet, Tom Horton, American’s CEO Tom is set to receive a $20 million+ severance package.
Bankruptcy reforms were put into place to prevent such excess following the Enron scandal and others that allowed executives to enrich themselves as investors and employees endured financial ruin.
Bankruptcy Judge Sean Lane is allowing this severance package to proceed and it must be stopped.
President Obama, your assistance is needed to put a stop to this abuse of the bankruptcy process ib the absence of proper governance by the AMR Board of Directors and others who intend to allow this unjust reward.
Created: Jun 10, 2013
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