Former American Airlines CEO Bob Crandall fired a guard dog at a Caribbean outpost to keep costs down. Just look at the self-satisfied gleam in Crandall’s eye. This is no mere cocktail party story, but a defining act of corporate leadership for his grandkids to cherish.
Crandall either reflects poorly on American Airlines, or the dollar-driven management style that makes Wall Street giddy. Crandall’s successor, Donald Carty, was ousted for his own cost-saving strategy: asking unions to accept almost $2 billion in salary cuts while showering executives with lavish retention bonuses. Something to keep in mind next time you ask for peanuts or a pillow.
The enlightening clip comes from NBC travel maestro Peter Greenberg’s excellent two-hour behind the scenes look into American Airlines, which occasionally airs on CNBC.
Wonder What Goes On Behind the Scenes at the Airlines? [Peter Greenberg]