Parker Turns Down Bonus

[Awa Contract]

It is on the web in the SEC Filings prior to the annual shareholder meetings for all to read.

Twicebaked - you will not see it if you are a bargining unit member. But hey as Parker has said repeatedly - " There is no money, there will be no pay increases "

 

[EricLv2Fish]

For some people even if DP donated his left kidney, his right nut, threw his body under a bus to save an old pedistrian...they would still come up with something negative. It's the ole' Us vs Them, Elite vs Worker, Union vs Management mentality. Granted some people have hidden agendas, but there are also people with and without money who have morales and standards to live by. Why is that so hard to comprehend? I challenge those who think DP's character is questionable to name one CEO who they think has character. If you can't come up with one then your opinion is what it is.

 

[Awa Contract]

How about good ole Herb - style and character. I will admit that Parker is the sharpest one we have had - but he ain't no saint.

 

[EricLv2Fish]

It is on the web in the SEC Filings prior to the annual shareholder meetings for all to read.

Twicebaked - you will not see it if you are a bargining unit member. But hey as Parker has said repeatedly - " There is no money, there will be no pay increases "

With all due respect Contract...your taking what he has said out of context ever so slightly. What DP has said time and time again is "We need to keep costs in-line" I've never heard him say "there will be no pay increases". By saying we need to keep costs in-line...on the surface you might think he means no pay increases...but what he is really doing is leaving some wiggle room for negotiations. From they way he has handled the issue of pay raises it appears to me he has graduated from Negotiations 101 with flying colors.

 

[fly with US]

I say he should put that money toward a down-payment on an Embraer 190 - The Spirit of Doug

Haha, that is funny.

 

[Awa Contract]

1st you were not at the meeting at the flight center were you? I was for both meetings and I am not taking it out of context - He did say there could be increases - providing that we would agree to outsouce more work - that means more jobs gone on both sides of the fence. I will not put someone else out of a job just so I can get a pay increase. Outside of his stated conditions he made no misunderstanding that there was to be no pay increases. Are you forgetting what he offered the F/A's prior to the agreement?

 

[AIRWOMAN]

March 9 , 2006

US Airways CEO Declines 2005 Annual Incentive Payment
March 9, 2006

US Airways today announced internally that CEO Doug Parker has declined his 2005 bonus payment. The airline’s Board of Directors recently approved payouts for eligible employees under America West’s 2005 Annual Incentive Program. As part of that program, the Board awarded Doug a 2005 cash incentive payment of $770,000, which he declined. As part of this same program, eligible former America West employees at grades 23 and above will receive payouts. Details of individual payments will be available from your direct supervisor early next week.

Background
As America West employees will remember, in early 2005, the Company announced it would eliminate AWArd Pay and replace that with a one-time four percent base salary increase for employees below grade 23. Employees grades 23 and higher would then receive part of their compensation through an at risk program, which only pays if the Company achieves certain financial goals. Because America West, on a standalone basis, did achieve its financial goals for 2005, the Board has approved payouts for eligible employees. The Board also elected to make payouts to certain former US Airways employees who are now working as part of the new combined team.

In 2006, the plan will not pay unless payments are also made under the broader profit sharing programs put in place for all represented employees below the director level as part of the merged airline.

CEO Comments
Doug stated, “I am pleased that the America West Airlines annual incentive plan was achieved for 2005. Our team certainly earned and deserves this recognition. While I am honored by the Board’s recognition of my own contributions, I have chosen to decline this award. As CEO of a larger merged airline that has many employees who have taken significant pay cuts and many others still on furlough, I have communicated to our Board that I would prefer to receive an annual cash incentive when our employee profit sharing plans are paying dividends too. In 2006, the annual incentive program will only pay if the profit-sharing plan in place for the majority of our employees pays out.

“I do not take this step lightly as I strongly believe our team has earned this reward. I recognize, however, that deciding to lead the former US Airways team comes with some expectation of shared sacrifice. Unlike most of the team, my total compensation includes some other key elements, including a Long Term Incentive Plan. That Plan paid out a significant amount for 2005 due to America West’s industry leading stock performance from 2002 to 2005. Ultimately, I look forward to the day when profit sharing is a consistent part of our culture and appreciate the efforts of all of our employees as we work to integrate our two airlines.â€

America West’s 2005 Results
America West Airlines produced exceptional results in a very difficult environment in 2005. The Company produced a modest operating profit, excluding special items, in 2005, making it one of a select group of airlines to do so. The combined new management team successfully negotiated and completed the merger, raising more equity than any airline transaction in history and dramatically increasing the viability of both America West and US Airways. America West shareholders, using an LCC equivalent at the beginning of 2005, realized a 132 percent return during the year, the highest of any major US airline.


Here is the ENTIRE article from Compass.
Anyone know who the certain former US Airways employees are??

 

[Awa Contract]

How much you wanna bet Jerry Glass has his name on that list

 

[EricLv2Fish]

How about good ole Herb - style and character. I will admit that Parker is the sharpest one we have had - but he ain't no saint.

Who the heck is? Now for the million dollar question. How many people in DP's position would turn down...defer, or otherwise not accept 750,000 bucks as incentive for AWA turning a profit in 2005. I'm sure not going to turn down my bonus, defer or otherwise not accept mine...and it won't even be close to 750,000 bucks.

 

[Awa Contract]

I did not say you should - what I am saying is watch next years SEC Filings and shareholder reports - betcha that bonus shows up.

 

[awausairtech]

I am With You AWA! (that means more jobs gone on both sides of the fence. I will not put someone else out of a job just so I can get a pay increase.)
We Have Lost To Much As AMT'S To Sell Our Brothers OUT!

ITS TIME TO STAND! h34r:

 

[EricLv2Fish]

I did not say you should - what I am saying is watch next years SEC Filings and shareholder reports - betcha that bonus shows up.

How would it show up? As a bonus for 2005 in a 2007 report? Tell ya what Awa Contract...I'd be happy to buy ya a case of whatever it is you drink if you can prove it. I plan on being here next year so I'll be good for it.

 

[rjh]

1st you were not at the meeting at the flight center were you? I was for both meetings and I am not taking it out of context - He did say there could be increases - providing that we would agree to outsouce more work - that means more jobs gone on both sides of the fence. I will not put someone else out of a job just so I can get a pay increase. Outside of his stated conditions he made no misunderstanding that there was to be no pay increases. Are you forgetting what he offered the F/A's prior to the agreement?

Well, the video from the recent meetings between Doug & the Pilot/FA groups are posted on Compass. He has said in those meetings that the total cost of the individual contracts will not increase when they become integrated contracts. Makes sense to me. When there are "no raises", that just means the pay for year 1, year 2, etc won't increase--but you still get a raise for each year of service you put in--just like every other employee--right?

 

[Awa Contract]

That will be a bottle of lipton instant ice tea - will talk to you upstairs next week some time. Bedtime for this honery old fart

 

[rjh]

I am With You AWA! (that means more jobs gone on both sides of the fence. I will not put someone else out of a job just so I can get a pay increase.)
We Have Lost To Much As AMT'S To Sell Our Brothers OUT!

ITS TIME TO STAND! h34r:

Exactly WHAT means more jobs will be gone? The fact that Doug is waiving his bonus? Or the belief that some have that he will actually get this bonus in a nother 1, 2, or 3 years??