Hugh Sawyer Gets Rich on Allied-Yucaipa Deal

May 14, 2007: According to a report in the Atlanta Journal Constitution (see link below), Allied CEO Hugh Sawyer will not have to apply for food stamps anytime soon, as he continues to make big money off of Allied, taking money that was supposedly to go to new equipment.

Hoffa and Zuckerman repeatedly promised that Sawyer would be tossed out like yesterday’s coffee grounds.

The truth is somewhat different. Sawyer will be paid $1.05 million in a lump sum. He will also be paid $29,166.67 every two weeks in his remaining time as CEO. (He will indeed lose that job, apparently in June.) He will get an addition $80,000 "primarily for legal fees." And, he will remain on the Board of Directors, at an unknown salary.

How does this compare with what Hoffa and Zuckerman promised? And, how does it compare to a 17% cut in wages and three year freeze?

To see the full report in the Atlanta Journal Constitution, click here.