National Employee Morale Day At CA, Inc

Enterprise software company CA, Inc (CA) will fire 1,000 people, about 7% of its work force. The firm will take a $50 million restructuring charge in the current year, according to an SEC filing. CA also reported that it “expects that its full year GAAP and non-GAAP diluted earnings per share will be at the low end of its previously issued guidance.”

CA trades near its 52-week high at $23.85. In the fourth quarter it make $237 million on revenue of $1.1 billion. Both numbers were improvements from the same period in 2008.

John Swainson, the CA CEO last year, made almost $9 million in the fiscal year that ended last March. Swainson had liberal access to the company’s aircraft for travel. The firm says that Swainson “uses the corporate aircraft and helicopter for personal travel for security reasons.” It is hard to imagine who might harm him beyond his own workers. The cost of the air travel when the CEO’s family was included was $178,514.

Fortunately, Swainson was replaced by Bill McCracken

Douglas A. McIntyre