In the mid 70s, 歌神 Sam Hui had a legendary hit called "半斤八兩". It's about the unfair reward system faced by Hong Kong working class.
The song can describe how British Airways treat their staff. Yesterday, BA asked their staff to work few days without pay so that the struggling airlines could have cash freed up to cover the record loss. The effort was spearheaded by the CEO Willie Walsh, who volunteered to forgo the salary of July. He hoped that other staff, especially the unionized operations crew, will follow suit. But they've given him a cold shoulder.
Forgoing one month's salary might not have an adverse effect on Mr. Walsh's lifestyle, but those operations crews count on every dime to meet their ends. Executives's biggest pays come from profit sharing and stock options. The salaries are like a pittance to them. If Mr. Walsh really wants to convince his staff of his altruism, he could forgo his profit sharing or stock options. Because they amount to multi-millions of dollars.
Western CEOs still have a long way to go before they will abandon their short-term thinking.
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