Originally Posted by
FlyingOkra
https://www.memphisdailynews.com/new...-pinnacle-cfo/
Meanwhile Menke and the COO split Ted's salary between themselves "as compensation for taking on the duties of the departing CFO, Christie." Gave themselves huge raises and then declared bankruptcy a short time later (3 weeks later). April 1st to be exact. And no they didn't take a pay cut upon the announcement or hiring of the next CFO.
All of these guys just make their rounds at various operators whether they're successful or not.
Correct me if I'm wrong but how does a CEO give himself a raise? doesn't it have to be approve by the BOD? My guess on that is, Richard Anderson wanted a "yes man" but didn't get it from Sean. I truly believe that Pinnacle could have avoided BK but Delta wanted us to go in BK anyways. How else would they get out of the 10 year contract that was signed with Northwest for all those 200's. Don't you find it odd that, as soon as Pinnacle declared BK, Delta was right there to finance and buy them? They got rid of the Colgan flying along with other Mesaba turbo props. If you ask what the old Frontier guys, what they think of Sean you would find that he was really liked. I'll also never forget the April 1st date. I saw the news right after midnight and had a PC that morning.