Agree about that. The more you make the more expensive housing, cars etc you get. They don't all live like the rest of us and save the rest for rainy days. Obviously you need some savings, but a salary cut of 75% will hit anyone hard.
Surely the fact they were willing to offer him a new contract (even on reduced terms) would significantly work against them? If its gross misconduct then the argument is that what he's done is so bad that they feel unable to allow him to continue doing his job, offering a new contract flies in the face of that. If anything it makes it clear that Derby's motivations were purely financial and nothing to do with disciplining the employee.
Were there not other passengers in the two cards besides Keogh (and the two drivers). Keogh was unlucky to get injured but if sacking a passenger for bad judgement then everyone in those to cars should have been sacked.