Millions to LTV managers means little for workers

Millions to LTV managers means little for workers
EDITOR:
Last Dec. 29, LTV Steel filed for bankruptcy, intending then to shut down all operations. In the following weeks, Chase Manhattan Bank lent the steelmaker $700 million so they could reorganize and continue to produce steel.
Now, according to a Cleveland Plain Dealer article, the corporation's CEO has stated that he wants to pay "retention bonuses" to 109 "key" employees, including himself, for a total of over $14 million. The CEO, William F. Bricker, will receive $1 million; his chief operating officer will get $1.5 million. -- this as well as a $100,000 annual pay raise.
The proposal also includes plans to pay Jay Alix and Associates --the company that LTV hired to help them reorganize. -- an hourly rate of $200 to $650 plus a bonus of $2.5 million. They get the bonus whether LTV becomes viable or not.
LTV spokesman Mark Tomasch said that the retention fee for Mr. Bricker was needed because "his current $700,000 annual base pay and benefits are inadequate to compensate him for the substantial contribution he is making in handling LTV's current woes."
I have been a steelworker at LTV for 30 years, and, in my estimation, the biggest problem at the company has been poor top management. Granted, the economy has declined and we face increased steel imports, but I fail to understand why LTV would "retain" and award bonuses to the very people who have been killing us for years.
This "take-the-money-and-run" attitude is not going to work this time. LTV employees know who the "key" players are, and they don't wear suits and go to meetings where they award themselves bonuses and pay raises. They make steel, and they do a damn good job, in spite of management.
WILLIAM J. HUNTINGTON
Youngstown
Soldiers don't need berets -- especially from China
EDITOR:
General Shinseki the army chief of staff who ordered that the black berets be worn by all members of the Army is really asinine.
The black beret was worn by members of the elite Army rangers. Special forces and airborne units also wear berets although of a different color.
These are highly trained and motivated people who have earned the right to be members of the elite group.
They don't need any parasites. To further add insult, Gen. Shinseki wants all of the black berets to be mass produced in of all places -- China. He stated no American company could produce the number of berets needed on time. In other words, Chinese slave labor was favored over cost and patriotism.
As a retired marine, I do not believe we should see a elite group degraded in such a manner. .
JOHN C. BABYAK
Poland
Seniors appreciate efforts undertaken for safety
EDITOR:
Human nature being what it is, most of us are quick to complain, but slow to express appreciation often taking for granted services that make our days easier.
As a group we wish to give recognition to the Youngstown Street Department who have made such a tremendous effort keeping the streets free of snow and ice.
We as senior citizens are doubly grateful for the care given to preserve our life and bones. This work is often done in the frosty hours while we're home snug and warm in our beds.
To each of you unknown and often unseen workers, please accept our thanks for a tough job extremely well done.
PAT BOKESCH
Youngstown
X The writer is a member of the Youngstown Saxton Retirees.