That’s just Jake: Brace is out at United, stock leaps

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Nobody like this fellow, it would seem. They may have meant he did a god job. But we think it’s pretty clear that Jake Brace, the chief financial officer at United Airlines, is being thrown under the bus. Brace, who was its chief restructuring officer during its lengthy bankruptcy reorganization, said he was retiring (at age 50), after which the company’s shares jumped to their highest in months and higher than other airlines. Brace, who started at United in 1988, was the guy who went into bankruptcy court and demanded that United’s unions take wage and benefit cuts, and he was the frequent target of the wrath of the pilots and flight attendants. 

Speaking of whom, the pilots spent much of last week demanding that United chief Glenn Tilton step down; Holly Hegeman of planebusiness.com has this take on the news: “I think Glenn Tilton is trying to deflect criticism of himself by throwing Jake overboard. I could give a much more nuanced take, but I think when it comes right down to it, that is it. Will it be enough? No. In addition, the next screaming that we hear will be that of United employees after they get their hands on the details of Jake’s severance/consulting contract.” Holly’s running a contest for her readers to submit captions for Jake’s portrait, but most of the entries are not ones we’d want to repeat.

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2 Responses to That’s just Jake: Brace is out at United, stock leaps

  1. OCEAN November 6, 2010 at 8:25 am #

    Amazing!

  2. shows online December 3, 2010 at 1:44 pm #

    thanks.

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