Over my weekend travels I spoke with a bunch of employees, and the most common talking point was Pete McDonald’s $85,000 country club membership which United paid for. Pete McDonald is United’s Chief Administrative Officer, by the way. I figured it was typical exaggeration or maybe even fabrication, which commonly happens when rumors spread like wildfire, so I decided to take a look at the latest proxy statement filed on April 24, 2009.
The first thing I noticed is the amount of money these executives make. I’m not really surprised, but seriously Pete McDonald made over $13 million in 2006? For what?!?!
What’s really awful, though, is what’s towards the bottom of page 23:
Total amounts paid by the Company for Mr. McDonald’s country club dues were equal to $86,885.
Are you kidding me?!?!?!?!?! Eighty-six THOUSAND dollars for a country club membership while the company loses over five billion dollars? All this while many of your employees make less than $20,000 a year, and even the best of them lost much of their pensions.
If this doesn’t show how out of touch United’s upper management is, I don’t know what will. I’d love to hear United management explain this one.
C’mon folks, let’s spread the word on this one, especially since we have facts to back it up. This is DISGUSTING.