Apr 24, 2006
Delphi Corporation is in bankruptcy proceedings. CEO Steve Miller declared he could not afford to pay $68 an hour (a lie) for workers to mow lawns (another lie).
But he could afford to send more than 200 dealers and salespeople on a week-long Caribbean cruise last month, on the Caribbean Princess cruise ship with $3,000 staterooms, several pools, and a golf course, with stops at St. Thomas, St. Maarten and the Princess Cays islands.
Cruise directors estimated the cost for such a trip at about a million dollars.
Of course, to Miller – whose “bankrupt” company brings in about 28 billion dollars yearly in sales, and to whom Delphi paid 3.87 million dollars compensation in 2005, and who expects to personally pick up 35 million in stock bonuses after Delphi restructures – to Miller, what’s a million-dollar cruise or two?