United pays $2.4 million 'Chairman's Flight' fine
Source: NorthJersey.com (The Record)
Paul Berger , Staff writer, @pdberger 12:55 p.m. EST December 3, 2016
United Airlines' parent company has been fined $2.4 million by the Securities and Exchange Commission for setting up a money-losing flight to curry favor with the former chairman of the Port Authority of New York and New Jersey.
The CEO of United Continental Holdings, Jeff Smisek, and two senior colleagues resigned last year in the wake of an internal company probe into the route, set up in 2012 between Newark and an airport in South Carolina close to former Port Authority Chairman David Samsons second home.
The SEC, which regulates publicly traded companies, said that the route lost $945,000 for the airline by the time it ended, when Samson stepped down from the agency in March 2014.
Andrew Calamari, director of the SECs New York office, said in a statement: United initiated a money-losing flight solely to curry favor with a public official, and failed to reflect in its books and records a fair and accurate depiction of the rationale behind the decision and its projected financial impact.
Read more: http://www.northjersey.com/story/news/2016/12/02/united-airlines-chairmans-flight-fine/94828194/
Let's hope this doesn't end here. The stench from New Jersey republican politicians is repulsive.
pangaia
(24,324 posts)Eugene
(61,595 posts)United got their $35 million dollar hangar.
I doubt they will be hurting about an
additional $2.4 million.
George II
(67,782 posts)...between the Christie administration and United.
wordpix
(18,652 posts)you know that old song? Samson up to his eyeballs in NJ corruption
bluevoter4life
(784 posts)Is why I oppose any effort to privatize our ATC system.
kebob
(499 posts)Note that I didn't say all. (Lawsuit protection!)