National Employee Morale Day At CA, Inc

By Douglas A. McIntyre Updated Apr 6, 8:08PM EDT · Published Apr 6, 8:30AM EDT

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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

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.