Didn't Checchi get the money from the stock market and not from NWA?
Wasn't the point of the post you snipped that the market value collapsed
after Checchi left? The politicians in the People's Republic of
Minnesota would have been screaming bloody murder if had raided the
corporate coffers.

"Robert M. Gary" wrote in message
oups.com...
Al Checchi took over 1 Billion (with a B) dollars out of NWA when he
left -
clearly his hand picked Board of Directors was on the ball with that
one -

That sucks, and the owners should fire the board. But that is a
private
decision between the board and the owners (actually public in this
case
because of the voting), but it has nothing to do with employees.
Employees work for a company so long as they can add value. When a
company goes belly up, the environment in which the employee can add
value goes away and therefore, the employee should go away. This
natural supply/demand and laws of economics ensure the employee is
most
productive (in this case, moving to a company where they can be more
productive). If I over pay my top employees that's my decision, it has
nothing to do with guarantying employment for my employees. Owners
will
not want to over pay their employees (CEOs or otherwise) but sometimes
unions push them into it.

-Robert