Wednesday, September 30, 2009

Metro CEOQuits With Package Worth Millions

Howdy Comrades!

It's been some time since the Blind Panthers addressed the matter of incompetence by senior Metro management.  Members here in Central Texas, however, were delighted by the early retirement today of Fred Gilliam, CEO for the embattled transit agency for the past seven years.  Our jumping for joy abruptly ended when details of Gilliam's golden parachute emerged.  He will be handsomely compensated for Metro's failure to provide a working commuter rail system, declining to budget for accessible bus stops and wasting agency funds fighting paratransit users who sued when he attempted to change the 2002 Policies and Procedures through administrative fiat.  Fred's base pay was about $200,000.00.  He reportedly received a ten percent raise through 2006, when the annual increase was changed to 5%. Moreover, Fred received performance bonuses of $35,000.00 from the Cap Metro board.  He accepted a generous early retirement that allows him to count seven years of service as though he'd worked for the agency a total of 35 years.  In addition, Fred will get a sweet pot of money for early retirement, quitting on the final day Metro staff could agree to the early retirement buyout.  His pension payments will be much fatter as a consequence of this dubious deal. 

Comrades, it's good that Fred Gilliam will no longer lead Cap Metro.  The BPP believes he does not deserve this preposterous golden parachute.  Instead, we should run Gilliam out of town on a rail!  Drat!  The rail doesn't work.  He's one lucky bastard.


Chairman Mal

Power to the Peeps!