CEO of AMR got $6.6 million in 2007

[WingNaPrayer]

I personally thought the company was going to go BK in spite of the giveback.

They did. Its just that it was a 'moral' bankruptcy instead of a financial one.

Face it, labor got fisted again. The only ones that benefited from the good times was executive management. Now, things are at a severe downturn again. They got theirs and now labor is going to be asked to pick up the tab for gassing up the friggin jets. Mark my words!

Contract negotiations will drag on and on for at least a year if not more. By the time spring of 09 rolls around, the execs will be extracting another bonus while labor takes off it's hats and flips it's buttons.

Sometimes you just have to shut-er-down!

 

[AC AA LA FA]

They did. Its just that it was a 'moral' bankruptcy instead of a financial one.

Face it, labor got fisted again. The only ones that benefited from the good times was executive management. Now, things are at a severe downturn again. They got theirs and now labor is going to be asked to pick up the tab for gassing up the friggin jets. Mark my words!

Contract negotiations will drag on and on for at least a year if not more. By the time spring of 09 rolls around, the execs will be extracting another bonus while labor takes off it's hats and flips it's buttons.

Sometimes you just have to shut-er-down!

aaaammen !!!

 

[Joe Patroni]

They did. Its just that it was a 'moral' bankruptcy instead of a financial one.

Face it, labor got fisted again. The only ones that benefited from the good times was executive management. Now, things are at a severe downturn again. They got theirs and now labor is going to be asked to pick up the tab for gassing up the friggin jets. Mark my words!

Contract negotiations will drag on and on for at least a year if not more. By the time spring of 09 rolls around, the execs will be extracting another bonus while labor takes off it's hats and flips it's buttons.

Sometimes you just have to shut-er-down!

Let's face it. The whole industry has been morally BK since the since that day in December, 1903. It's nothing new. Why do you think the contract reopening date was changed to now? In order to take advantage of the next downturn cycle. After all, we are 8 years out of the start of the last downturn.

 

[FrequentFlierCA]

FYI...His was not a paycheck. It was a bonus. Big difference between the two. Do you consider a bonus a paycheck? Last time I checked, a bonus was something you earn for good work, making your company operate with no hicups and turning a profit.

Hmm, lets take a look. AMR stock is down 75% since last year, the MD80 issue and reporting a $328 million dollar 1Q loss. Now that's the type of CEO who deserves a bonus...NOT!

The the rank and file are still working with less pay, benefits, vacation and sick accural. I along with my 18,000 f/a co-workers took a 33% paycut and FURP boy gets a 21% pay increase, $6.6 million compensation in 2007 and he takes a $1.7 million dollar bonus. How pathetic Arpey is. RESIGN!!!

We can agree to disagree on the issues, but let's not grossly distort facts. These are no more bonuses than the paychecks you get every two weeks. Just as that pay is written into your contract, these stock payouts were written into management's. You can debate the moral and leadership angles all day long - and fair enough - but this is contractual pay. I'm sick of seeing PSP mis-characterized as bonuses. It clouds the discussion and is just plain wrong.

 

[WingNaPrayer]

I'm sick of seeing PSP mis-characterized as bonuses. It clouds the discussion and is just plain wrong.

Doesn't matter. It is still a big pile of money that none of the bastards deserved, Period! They should learn to live with their paychecks as they expect every other employee to do and forget about the extra millions.

But they aren't about to do that, because they know they are going to sink this ship, and they are going to take every friggin' penny they can before the ship goes down.

 

[eolesen]

Sorry, Wing, but if they don't deserve it, then no other employee deserves step increases, license premiums, MPR, or anything else that they're contractually entitled to.

Execs put most of their compensation at risk (only 15% is guaranteed per the proxy statements). The fact that they got paid incentive compensation at all seems to gall everyone, but none of the employees doing the pissing and moaning are willing to work under the same terms.

 

[TIME FOR CHANGE]

but this is contractual pay.

We had a contract also. The Company shred it and the union bought it.
Its you and your double standard that makes me sick

 

[TIME FOR CHANGE]

Sorry, Wing, but if they don't deserve it, then no other employee deserves step increases, license premiums, MPR, or anything else that they're contractually entitled to.

Execs put most of their compensation at risk (only 15% is guaranteed per the proxy statements). The fact that they got paid incentive compensation at all seems to gall everyone, but none of the employees doing the pissing and moaning are willing to work under the same terms.

If they would have left our contract alone I wouldnt be "pissing and moaning"

Your double stndard is why I continue to piss and moan.

Until they restore what they took the pissing and moaning will continue.

They pay me just enough not to quit so I do just enough not to get fired

 

[flyastrojets]

I seem to remember a lot of pissing and moaning at AA way prior to the restructuring agreements..... and prior to 9/11/01 for that matter. They could give everyone an 80% raise tomorrow, and then there'd be nothing but pissing and moaning about how it should've been 90% because so much has been "stolen" by greedy executives.

 

[TIME FOR CHANGE]

I would have to disagree with you.
That could easily be proven by our lower OTS aircraft and lower MEL count during the AMFA contract of 2000.

We produced more and I know I was a lot happier during that time.

 

[ual777fan]

Just be glad you don't have Delta's CEO who brought in twice Arpey's entire paycheck in 1 Quarter even though his airline has yet to regain firm financial footing.

I'm not happy the executives make as much as they do, but American's management (while way to focused on the pennies instead of pounds) has managed to make AMR profitable again and do it without junking your pensions and having a judge shred your contracts.

Linky to news story: http://www.msnbc.msn.com/id/24300346/

 

[TIME FOR CHANGE]

The Judge didnt have to shred our contract the CompAAny union did it instead.
:down:

As for the pension, people on this board have said it is cheaper for AA to continue with the DB instead of going with a matching 401

I dont know if that is true or not.

 

[FWAAA]

The Judge didnt have to shred our contract the CompAAny union did it instead.
:down:

As for the pension, people on this board have said it is cheaper for AA to continue with the DB instead of going with a matching 401

I dont know if that is true or not.

It's been true since 2003 when I first compared the WN defined contribution plan expenses with the AA defined benefit pension contributions. WN does more than just match employee contributions to 401k plans; it makes a contribution to each employee's account whether or not the employee contributes. Although your worthless union probably wouldn't think to negotiate a similar plan, I gotta think the pilots and FAs wouldn't allow just 401k matches. Maybe the TWU could free-ride on the pilots and FAs negotiating skills on this one.

In 2007, AMR contributed $380 million to its plans, more than the legal minimum required contribution. For the last two or three years, AA has contributed more than the minimum to the plans.

In 2007, WN spent $279 million on all defined contribution retirement plans.

Before someone compares those absolute numbers and declares me wrong, keep in mind that AMR had more than twice as many employees and had more than twice as much revenue as WN. As a percentage of revenue or as a percentage of employee compensation, WN spent a much higher percentage on employee retirement than AMR did.

Will the DB plan always be cheaper than the WN DC plans? No. Long term, DB plans probably cost employers more than DC plans. But for now (and for the past several years), pension costs at AA require less out of pocket cash than if AA adopted a WN-style plan. Arpey and Beer reminded analysts of this disparity a few quarters ago when the analysts asked about AA's pension plan "disadvantage" compared to competitors. The execs reminded the analysts that maybe AA had more than just the employees' retirements in mind - funding the pensions was also advantageous for the company.

 

[TIME FOR CHANGE]

It's been true since 2003 when I first compared the WN defined contribution plan expenses with the AA defined benefit pension contributions. WN does more than just match employee contributions to 401k plans; it makes a contribution to each employee's account whether or not the employee contributes. Although your worthless union probably wouldn't think to negotiate a similar plan, I gotta think the pilots and FAs wouldn't allow just 401k matches. Maybe the TWU could free-ride on the pilots and FAs negotiating skills on this one.

In 2007, AMR contributed $380 million to its plans, more than the legal minimum required contribution. For the last two or three years, AA has contributed more than the minimum to the plans.

In 2007, WN spent $279 million on all defined contribution retirement plans.

Before someone compares those absolute numbers and declares me wrong, keep in mind that AMR had more than twice as many employees and had more than twice as much revenue as WN. As a percentage of revenue or as a percentage of employee compensation, WN spent a much higher percentage on employee retirement than AMR did.

Will the DB plan always be cheaper than the WN DC plans? No. Long term, DB plans probably cost employers more than DC plans. But for now (and for the past several years), pension costs at AA require less out of pocket cash than if AA adopted a WN-style plan. Arpey and Beer reminded analysts of this disparity a few quarters ago when the analysts asked about AA's pension plan "disadvantage" compared to competitors. The execs reminded the analysts that maybe AA had more than just the employees' retirements in mind - funding the pensions was also advantageous for the company.

i believe your numbers to be correct

Yet it still makes me laugh
yesterday I recieved a letter from the company reminding us how bad things are
and how they have met thier pension obligations like they are doing us a favor
and how no other legacy carriers have a DB plan

I guess it depends on how you look at it or who you are trying to convince

:huh: