Sirotablog

David Sirota's online magazine of news & commentary
(Reader comments now accepted at Working Assets)

Thursday, January 19, 2006

Court Rubber Stamps United Execs Rip-Off Scheme

The Associated Press reports that a bankruptcy court today approved a plan by United Airlines' executives to give "8% of the total shares the company intends to issue upon its emergence from bankruptcy — valued at roughly $152 million." That comes "on top of annual salaries that will total $3.5 million for the top eight UAL executives." This, just after the executives reduced workers' pay/wages. Perhaps most disgusting was the judge's rationale for approving this rip-off: "It may very well be that we have a culture in this country that overpays management, he said. "But United is just one enterprise that functions in that environment." If ever there was proof that our government is a wholly-owned subsidiary of corporate America that just doesn't care about the war being waged on America's middle class, that quote is it.

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Hostile Takeover is the average citizens' guide to decoding corrupt politicians' lies, myths and half-truths. The book is due in bookstores March/April 2006 - but you can advance order it at Amazon or Barnes & Noble today.

Markos Moulitsas Zúniga and Jerome Armstrong have a new book coming out that really challenges the political Establishment. I've read an advance copy and its a great read. Go pick up a copy over at Working Assets today.

To find out more about me, download my official biography. A shorter version is this: I am the co-chairperson of the Progressive Legislative Action Network (PLAN) - a position I took after finishing a stint as a fellow at the Center for American Progress. I am also a Senior Editor at the In These Times magazine, and a writer for Working Assets, and a twice-a-week guest on the Al Franken Show. I have just completed a book for Random House's Crown Publishers entitled "Hostile Takeover" - it will be released Spring 2006. I also write a bi-weekly section for the Nation Magazine called Permanent Minority vs. Towards the Majority. For more on what I do, see this Newsweek profile about me, or scroll down towards the bottom of this page for a full list of my published work. Feel free to email me at david@davidsirota.com with any thoughts/criticism. Note: this online publication represents my personal views, and not the official views of the organizations I work with.

I am co-chairing the new Progressive Legislative Action Network (PLAN), an organization dedicated to passing progressive legislation in all 50 of America's state capitals. PLAN held its formal kickoff on August 16, 2005 with more than 120 state legislators from 40 states. Read this article about PLAN and how progressives are going to start taking the fight to the states.

In 2006, progressives have a chance to help elect two of the most accomplished progressive leaders to the U.S. Senate - Ohio's Democratic Congressman Sherrod Brown and Vermonts Independent Congressman Bernie Sanders. These two leaders have been fighting the progressive fight in the trenches for years - even when it wasn't glamorous or glitzy. We need to reward them with our support - and finally put two of the people's champions into the Senate. As a disclaimer, I don't work for either of these candidates - my support is all about putting progressives in positions of power. The opportunities to elevate such great progressive champions to such powerful positions is so rare in politics - and in 2006 we have a chance to help two of our own. Donate to Sherrod and Bernie's campaigns today.

I am currently a writer for Working Assets - the phone company that donates millions of dollars of its proceeds to progressive causes. Check out their political site where my blog is here, and check out the company by clicking the graphic above - they are a great outfit with a great cause.