In the days after the shooting last year in Parkland, Fla., students from Marjory Stoneman Douglas High School used social media to protest companies that had partnerships with the National Rifle Association. Among them was Delta, which offered a small and little-used discount to N.R.A. members.
Delta’s chief executive, Ed Bastian, quickly decided to scrap the partnership. In retaliation, local politicians, egged on by the N.R.A., decided to end a tax break that would have saved Delta million. Mr. Bastian was unbowed, writing in a statement that “our values are not for sale.”
Mr. Bastian worked in accounting and big food before joining Delta, and he speaks about his employees with uncommon reverence. He backs up that sentiment by sharing a large portion of annual profits with employees. Last week, Delta paid out .3 billion in bonuses to front-line workers.
This interview, which was condensed and edited for clarity, was conducted at Delta’s offices in New York.
What was your childhood like?
I grew up in a large family. I’m the oldest of nine kids. My father was a dentist and he had his practice in our house. My mom worked in my father’s practice as a hygienist or assistant. My grandmother lived with us. And it wasn’t that big of a house. You had to learn the dynamics of teamwork at a young age. But as soon as I graduated high school, I was like, “I’m not going back.”
What was your first job?
It was on a summer work crew for the county highway department — just cleaning roads, picking up trash and paving roads. The next three summers after that, I worked at a rock quarry where they made cement. It was hot, it was nasty, but it gave me the incentive to say, “I'm never going to do this for a living.”
After you graduated from college you joined PricewaterhouseCoopers. I’ve noticed that a lot of C.E.O.s start their careers as accountants. Why do you think that is?
At the time, I was an accountant because I was pretty good at math and analytical skills, and I could get a job. But looking back on it, accounting teaches you the language of business. As an accountant you have different clients. I had an advertising agency and a bunch of different industries. The chance to kind of work inside the company, to see their books, gave me a lot of confidence at a very young age.
I read somewhere that you discovered some fraud while there.
My first year I was assigned to a large advertising agency, J. Walter Thompson. I stumbled upon a relatively small part of the business, and I just had questions I couldn’t answer. In years past, the accountants in that area couldn’t really understand it either, but they just moved along. But I didn’t let it go, and it just kind of kept bugging me.
It was a business unit called syndication, where they would produce commercials, and in return take airtime as a barter arrangement. I had this sense that they weren’t realizing actual value in return, and it turned out that the revenues they were booking were totally fictitious. It was just kind of a bookkeeping exercise, and it turned out it was a fraud of million.
Soon after that, you wound up managing a team. Was that difficult so early in your career?
When you’re young, you want to be friends with people. But leadership is not a popularity contest. It’s about making some tough decisions, trying to give counsel and trying to make the best decisions for your team.
What were you looking for when you went on to work for Frito-Lay?
As an accountant, you’re not making the decision — you’re not bringing business ideas and being accountable for the results. I wanted to own the result. I worked at Frito-Lay International, which was a conglomeration of all these snack companies around the world. Each had its own snacks, its own flavors and brands, and Frito was on an acquisition binge. We would acquire brands in the U.K. or in the Netherlands or in China or in Russia. We would get on the Frito-Lay plane on a Monday and visit three, four, five countries around the world, get back Friday evening in Dallas for the weekend, and the next Monday we’d hit another set of countries. I was on the road 90 percent of the time.
Did you have a family then?
I did. It was hard. That marriage wound up breaking up shortly after that period. It was difficult. But from a business standpoint, it was incredible.
How did you wind up at Delta?
A friend called me and said Delta had an opening as a corporate controller. I said, “I feel like I live on an airplane, so why not?” Then I got inside, and realized it’s a hell of a lot more complicated than you can appreciate.
And the airline industry had some dramatic highs and lows back then.
Yeah. 9/11 happened and changed all of our worlds. I was in Atlanta and watched the second plane hit on TV. Being in the airline business, your first thought is the safety of your crew and your team. There was immediately a worldwide ground stop on air travel, and we had to put all our planes down immediately.
In Atlanta, it was eerie. Our offices are right across from the airfield, and there was just the sound of silence for several days. It was like a pall that sat over the airport, the office, everything. We saw international business drop to almost nothing overnight. We had to let 15,000 people go in two weeks because we didn’t have any cash coming in. It took us 10 years as a company to recover from that.
You left Delta to work for a building management firm, but then you came back to Delta to be chief financial officer at a moment when the company was in real trouble. Why?
I wanted to rescue the company. I wanted to run to the fire. I wound up taking a 50 percent pay cut to come back to Delta, which was insane. But I had a passion for this, and I believed we could do something great one day, because I loved the people of the company.
When I returned, the first thing I asked was to see the cash balance, and they showed me the projection is that we were going to be out of cash within six weeks. Zero cash. Then our credit card providers started withholding payments to us. People could smell blood in the water.
What did you do to try to turn things around?
You’ve got to make certain that your employees know that they are the absolute best asset you have. When you go through difficult times, employees can feel like they’re a number, they’re a cost, they’re a means to an end. But no, they are the end themselves.
But how can you say that when you’re cutting their pay, cutting their benefits and slashing their pensions?
There was a lot of anger. Our pilots were unionized, but we were able to forge an agreement. They realized that the company was at risk of truly going away. And what we did is just bring all the employees in, a few hundred people at a time, and I’d get up and just talk for like an hour and a half, explaining how we got here, where’s it going and whatnot, and then we’d do Q&A. There were no PowerPoints, there were no big fancy slides. Today, the same people that took the 50 percent pay cuts are the ones that got us back to the top. The same exact people.
But what did you actually do for them?
In the middle of the bankruptcy process, we didn’t know where the bottom was. We had asked our workers to take pay cut after pay cut, and there was nothing left for us to take. But we said, “If this thing turns around, we want you to be paid first. So we said 15 percent of the profits will go to you. Not the management team, it goes to you, our employees.”
A few years after that, we had a 0 million profit-sharing payout to employees. Now, for five years running, we’ve paid over billion a year to our employees in profit-sharing. We get a lot of questions from investors who think we’re way too generous, that we don’t need to give it to our employees, and we’ve refused to budge. It’s sacrosanct. I talk almost in spiritual terms about it.
After the Parkland shooting, students protested a discount program Delta had with the National Rifle Association. How did that situation play out from your perspective?
My first reaction when I learned about the discount was, “Why are we doing this?” And we made a quick decision that this wasn’t something that was providing any value to the company, and we just needed to eliminate it. We were being drawn into this national debate over something that was really insignificant from a financial perspective. It wasn’t an anti-N.R.A. stance or pro-gun-control stance.
The statehouse had just approved eliminating a tax that was one of the highest jet fuel tax rates in the country. But then the N.R.A. came at us hard, and went after the state representatives, and they decided not to go ahead with the elimination of the tax, which was going to cost us million.
In the midst of all this you came out with a statement that read in part, “Our values are not for sale.” How did that come about?
I went to our communications team and asked them to draft a statement for me. What came back just wasn’t my words. So I threw it away and sat down and wrote it myself. And it was from my heart. It was more than a business decision for me. It got personal. You try to detach your personal emotions from your business, but there’s a point where you can’t anymore.B:
管家婆彩图自动更新2016【赵】【瑗】【还】【未】【靠】【近】【马】【车】，【就】【放】【下】【衣】【摆】【张】【开】【了】【双】【臂】。 【秋】【葵】【惊】【呼】“【殿】【下】【小】【心】”【时】，【看】【到】【他】【低】【身】【抱】【着】【了】【郭】【思】【谨】【的】【腿】。 【秋】【葵】【松】【了】【口】【气】，【看】【他】【那】【样】【子】，【还】【以】【为】【要】【扑】【上】【去】，【来】【个】【结】【实】【的】【拥】【抱】【呢】。【一】【个】【站】【在】【车】【上】，【一】【个】【在】【车】【下】。【拥】【抱】【的】【话】，【正】【抱】【着】【腰】。 【五】【个】【多】【月】【的】【身】【孕】，【肚】【子】【隆】【起】【的】【很】【明】【显】。【挤】【着】【肚】【子】，【可】【就】【麻】【烦】【了】。 “【快】
【花】【芯】【兔】【兔】【扑】【哧】【一】【笑】：“【我】【哪】【知】【道】，【可】【能】【爷】【爷】【没】【洗】【脸】【吧】。” 【这】【话】【说】【的】【让】【赵】【三】【机】【有】【些】【尴】【尬】，【他】【确】【实】【是】【很】【久】【没】【洗】【脸】【了】，【在】【守】【灵】【里】【呆】【了】【差】【不】【多】【一】【个】【礼】【拜】【了】【都】【没】【有】【回】【过】【现】【实】。 “【呜】【呜】，【死】【兔】【子】，【老】【是】【嘲】【笑】【我】。” “【爷】【爷】，【别】【难】【过】【了】，【只】【不】【过】【是】【灵】【币】【而】【已】，【要】【多】【少】【跟】【我】【说】【就】【是】【了】，【我】【来】【罩】【着】【你】。”【花】【芯】【兔】【兔】【挺】【了】【一】【下】【酥】【胸】
【这】【个】【突】【然】【的】【发】【现】【稍】【微】【是】【打】【乱】【了】【一】【下】【自】【己】【后】【续】【的】【一】【个】【想】【法】，【但】【梦】【园】【心】【里】【快】【速】【升】【级】【的】【这】【个】【第】【一】【目】【标】【仍】【然】【没】【有】【改】【变】。 【虽】【然】【自】【己】【在】【升】【到】【七】【十】【级】【之】【前】，【等】【级】【优】【势】【是】【和】【任】【何】【一】【个】【普】【通】【玩】【家】【差】【不】【多】【的】。【但】【联】【盟】【之】【力】【这】【个】BUFF【可】【是】【仅】【在】【南】【极】【大】【陆】【上】【面】【才】【能】【享】【受】【到】【的】，【在】【隆】【兰】【大】【陆】【上】【面】【的】【玩】【家】【是】【完】【全】【享】【受】【不】【到】【这】【个】【加】【成】【的】。 【自】【己】
【没】【想】【到】【她】【竟】【然】【这】【个】【时】【候】【来】【凤】【城】【了】。 【难】【道】【是】【盛】【清】【风】【成】【了】【植】【物】【人】，【她】【知】【道】【自】【己】【没】【有】【希】【望】【了】，【所】【以】【就】【放】【弃】【了】？ 【宋】【离】【离】【还】【没】【反】【应】【过】【来】，【站】【在】【讲】【台】【上】【的】【杜】【晓】【宁】【就】【开】【了】【口】，“【大】【家】【好】，【我】【是】【杜】【晓】【宁】，【你】【们】【班】【的】【陆】【谨】【言】【是】【我】【的】【男】【朋】【友】。”【此】【话】【一】【出】，【教】【室】【里】【立】【刻】【人】【声】【鼎】【沸】【起】【来】，【男】【生】【们】【兴】【奋】【的】【拍】【着】【桌】【子】，【吹】【着】【口】【哨】。 【还】【没】【有】管家婆彩图自动更新2016【水】【了】【十】【三】【章】【以】【对】【不】【起】【为】【标】【题】【的】【章】【节】，【其】【实】【这】【个】【标】【题】【也】【是】【我】【想】【说】【的】【一】【句】【话】。 【对】【不】【起】。 【无】【论】【是】【对】【自】【己】，【对】【你】【们】，【以】【及】【对】【这】【本】【书】【而】【言】，【故】【事】【到】【这】【里】【结】【束】【了】。 【从】【写】【书】【到】【现】【在】，【一】【百】【来】【天】，【从】【一】【开】【始】【兴】【致】【勃】【勃】，【到】【现】【在】【浑】【浑】【噩】【噩】【完】【全】【不】【知】【道】【自】【己】【在】【写】【什】【么】，【以】【至】【于】【真】【的】【写】【不】【下】【去】【了】。 【这】【两】【天】【我】【一】【直】【在】【想】，【究】【竟】【是】【先】
“【那】【现】【在】？” 【男】【人】【的】【意】【思】【是】【交】【给】【她】【吗】？ 【云】【兮】【用】【疑】【惑】【询】【问】【的】【目】【光】【看】【向】【封】【晋】。 【封】【晋】【忍】【不】【住】【摸】【了】【摸】【她】【头】，“【恩】。” 【云】【兮】【眼】【眸】【瞬】【间】【亮】【了】，“【我】【可】【以】【杀】【她】【吗】。” “【你】【想】【杀】【她】？”【封】【晋】【一】【怔】。 “【唔】，【她】【老】【是】【喜】【欢】【用】【杀】【死】【我】【的】【眼】【神】【盯】【着】【我】，【我】【不】【喜】【欢】。” 【女】【孩】【儿】【嘟】【嘟】【唇】，【想】【法】【真】【的】【很】【简】【单】，【好】【像】【别】【人】【怎】【么】
【但】【在】【她】【的】【思】【绪】【里】，【却】【是】【认】【定】【一】【定】【是】【苏】【小】【追】【的】【司】【奕】【曦】。 【娜】【娜】【八】【卦】，【一】【直】【在】【玩】【手】【机】，【她】【比】【浅】【浅】【更】【早】【看】【到】【这】【条】【消】【息】【的】，【简】【直】【肺】【都】【气】【爆】【了】！ 【她】【们】【一】【宿】【舍】【的】，【浅】【浅】【找】【了】【周】【鹏】【也】【就】【算】【了】，【苏】【小】【更】【劲】【爆】，【居】【然】【找】【了】【司】【男】【神】！ 【一】【个】【个】【的】，【可】【真】【会】【高】【攀】【啊】！ 【这】【么】【好】【的】【运】【气】，【为】【什】【么】【就】【没】【发】【生】【在】【自】【己】【身】【上】？ 【娜】【娜】【打】【过】【很】【多】
【站】【在】【原】【地】，【看】【着】3【道】【灰】【白】【的】【质】【体】【灵】【魂】【模】【糊】【中】【凝】【聚】【成】【型】，【飞】【快】【朝】【他】【而】【来】，【融】【入】【胸】【膛】。 “【太】【慢】【了】。【看】【来】【我】【需】【要】【速】【度】【了】。” 【残】【破】【的】【灵】【魂】【之】【力】，【恐】【怕】【只】【有】【原】【本】【的】【十】【分】【之】【一】，【这】【点】【微】【薄】【的】【灵】【魂】【之】【力】【根】【本】【不】【够】【艾】【伦】【塞】【牙】【纟】【逢】。 【他】【提】【着】【银】【白】【之】【剑】，【大】【步】【走】【进】【侧】【门】。 【侧】【门】【内】 【慢】【慢】【出】【现】【两】【名】【正】【在】【巡】【逻】【的】【狰】【狞】【重】【甲】【战】【士】，