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Alvin Feldman's Tragic Stand
- Alvin Feldman, CEO of Continental, attempted a worker-owned buyout to save the airline from Frank Lorenzo's hostile takeover.
- After the financing fell through, Feldman tragically committed suicide, symbolizing the end of an era in airline management.
Reagan Crushes Air Traffic Unions
- Reagan's firing of striking air traffic controllers was a major blow to organized labor in the US.
- This event marked a significant shift in government attitude toward unions and labor power.
Lorenzo's Joy in Worker Suffering
- Frank Lorenzo openly enjoyed making workers' lives miserable as part of his cost-cutting strategy.
- He saw employees as expendable and aimed to reduce their pay drastically without concern for their wellbeing.