I am 87 years old. I never went to college and I consider myself a dummy. But I set up a budget at the beginning of each year for each month of the year. I must live within this budget each month or I could not exist.
I realize that to run a huge company like United Airlines is a massive job, and the following must be adhered to:
– The CEO must be aware at all times of everything that is going on. I feel sorry for him. His workweek must be 80 hours or more.
– The board of directors must meet once a month for a whole week, 12 hours a day, to review income and expenses. After all, they are the directors of the entire company.
– If anything appears out of line, cuts must be made immediately. For example, if an employee needs a pencil, he or she must turn in a stub. Put an immediate stop to all outgoing personal telephone calls. Turn down the lights. Cut down on the heat; ask employees to wear sweaters.
Were any of the above suggestions every done at United Airlines? If I personally fall behind in my budget, I take action at once. I do not drive my car every day; I double up my trips. I eat out less frequently. I reduce my electric bill by shutting off lights and watching less television. I skip vacations.
