Pay No Attention to the Man Behind the Curtain

[TWU informer]

Point remains that the pilots were willing to accept stock.

Your negotiators may be fine mechanics, but they've proven to be amateurs at negotiating.

True about TWU Negotiators

But Pilot's have not voted yet.

 

[737823]

Just because 'everyone else' has done it does not make it ethical.
As Tilton was gutting our contracts, he was asked how much of a hit he'll take.
Sorry, but I have a contract. His contract was BK proof, ours was not.
The 'executive class' came out unscathed and in most cases better off.
How is this 'fair and equitable'?
B) xUT

You have no idea what you are talking about, stop posting lies and misinformation. Management has taken part in the restructuring, positions have been eliminated, AA hasn't paid cash bonuses since 2001, management has received equity awards and options which are only valuable if the company stock performs well thereby aligning management interests with the interests of shareholders, is that so difficult for you to understand? Don't let the facts get in your way.

Josh

 

[737823]

Point remains that the pilots were willing to accept stock.

Your negotiators may be fine mechanics, but they've proven to be amateurs at negotiating.

Did Don Videtich or Jim Little ever work on airplanes?

Josh

 

[700UW]

Once again you have no idea, Tilton got bonuses as did most executives at the airlines when they emerged from bankruptcy.

When US filed chapter 11 the second time, Bruce Lakefield CEO of US too ZERO in a paycut, when the section 1113 e emergency hearing was going on I was in the court room he made more per year than Kelleher of WN and Needleman of B6. Yet WN and B6 were making profits and US was in bankruptcy the second time in less than two years and the court forced an immediate 19% paycut on the employees.

Bankrupt United Airlines paid its top executive a bonus of over USD$366,000 last year as the company sought salary and other concessions from union workers, but has cut his pay by 15 percent in 2005.
Documents filed with the government on Wednesday showed that Chief Executive Glenn Tilton's salary plus bonus amounted to more than USD$1.1 million in 2004, even though he accepted a pay cut during the year.

By my calculations, Arpey made about $15 million in the past nine years. That's $1.7 million annually, roughly one-sixth the going rate for a Fortune 500 CEO.
That's an easy bar to beat for successor Tom Horton. In bankruptcy, execs are typically rewarded with salaries and cash bonuses that are not extraordinary, but they get big stock awards when their company emerges from Chapter 11.

Glenn Tilton of United Airlines received $24 million in total compensation in 2006, according to a Bloomberg News estimate, and others put the value at nearly $40 million. Northwest's Doug Steenland got $26 million worth of shares. US Airways' Doug Parker got a $14 million package, according to news reports.One exception was Gerald Grinstein at Delta. Then age 74, he declined all incentive pay, and the next four Delta execs got $29 million in grants and perks. Richard Anderson, recruited to lead Delta in 2007, received an $11 million long-term incentive.
American hasn't proposed a new compensation plan yet, but the current one is obsolete. Seventy percent of executive pay at American is tied to the stock price, which traded at 69 cents Wednesday and is eventually headed toward zero. The company must devise another way to retain and recruit top managers, and reward performance.
Companies in Chapter 11 usually unveil pay plans within three months of the filing, and the proposals must go through the creditors committee for review. At United and Northwest, where union animosity ran high, executive pay became a flash point in the bankruptcy, generating lots of hearings and news coverage.
At United, the protests led to a smaller stock award for the management team, although it still totaled 8 percent of outstanding shares.

Gee Josh, I guess your the one who is lying.

Read more here: http://www.star-telegram.com/2011/12/14/3595805/if-american-airlines-unions-objected.html#storylink=cpy​

Read more here: http://www.star-telegram.com/2011/12/14/3595805/if-american-airlines-unions-objected.html#storylink=cpy​

 

[700UW]

You have no idea what you are talking about, stop posting lies and misinformation. Management has taken part in the restructuring, positions have been eliminated, AA hasn't paid cash bonuses since 2001, management has received equity awards and options which are only valuable if the company stock performs well thereby aligning management interests with the interests of shareholders, is that so difficult for you to understand? Don't let the facts get in your way.

Josh

Hey Josh stop posting lies and misinformation:

AMR has a history of botching executive pay. In 2003, it disclosed in a regulatory filing that it had paid secret bonuses to management a day after it announced squeezing more than $1 billion in concessions from its unions. The bonus bungle cost Aprey’s predecessor, Don Carty, his job. Three years later, AMR’s board again rubbed salt in workers’ wounds, awarding executives’ hefty bonuses tied to the company’s stock price, even though the airline was still losing money. As I noted at the time, for their sacrifice, workers got to stand by and watch management cash in.

executives of AMR—American Airlines’ parent company—were awarded more than $100 million in bonuses and salary increases since 2003, while flight attendants have forfeited more than $340 million per year in salary and benefit concessions in order to save the airline from bankruptcy, Hedirck said.

 

[737823]

Did Buffenbarger & Co share the pain when many of their members giving concessions? Nope, they kept raiding both their "members" and the employers at the same time.

Josh

 

[737823]

Once again you have no idea, Tilton got bonuses as did most executives at the airlines when they emerged from bankruptcy.

When US filed chapter 11 the second time, Bruce Lakefield CEO of US too ZERO in a paycut, when the section 1113 e emergency hearing was going on I was in the court room he made more per year than Kelleher of WN and Needleman of B6. Yet WN and B6 were making profits and US was in bankruptcy the second time in less than two years and the court forced an immediate 19% paycut on the employees.







Gee Josh, I guess your the one who is lying.

Read more here: http://www.star-tele...l#storylink=cpy​

Read more here: http://www.star-tele...l#storylink=cpy​

Seriously, do you ever proofread before you post? Seems you make lots of spelling, grammatical and factual errors.

AA has not directly paid cash bonuses since 2001, the stock awards and other bonus pools are separate don't you understand?

Josh

 

[700UW]

That has nothing to do with the topic at hand, keep deflecting.

And yes our district reps took concessions when we did.

So keep posting lies and misinformation.

And dont let the facts get in your way.

And the IAM had over 400,000 members, US AIrways wasnt its only bargaining unit.

Gee did you stomp up and down and throw a tantrum too?

Guess it sucks to be called out and shown to be wrong.

 

[737823]

Ain't no way:

http://www.goiam.org/index.php/news/latest-videos/10232-taking-on-lockheed-in-md


NYT: A bargaining committee for the union machinists on strike at Lockheed Martin’s fighter jet plant in Fort Worth has recommended that members vote for a new contract that would eliminate traditional pensions for newly hired employees, according to a summary posted Monday on the union’s Web site.

http://www.nytimes.com/2012/06/26/business/lockheed-contract-wins-approval-of-union-bargainers.html


IAM concessions at work!

Josh

 

[700UW]

Your off topic again, keep trying.

I guess your just a sore loser.

This is about American Airlines, not Lockheed Martin.

 

[xUT]

You have no idea what you are talking about, stop posting lies and misinformation. Management has taken part in the restructuring, positions have been eliminated, AA hasn't paid cash bonuses since 2001, management has received equity awards and options which are only valuable if the company stock performs well thereby aligning management interests with the interests of shareholders, is that so difficult for you to understand? Don't let the facts get in your way.

Josh

My My...
I didn't say anything about cash bonuses now did I?
Yet you call me a lair.
Here You Go:
CEO resigns over secret executive pay deal

The day after the airline’s pilots, flight attendants and ground workers first voted to accept the concessions packages, news reports revealed the company had secretly agreed to pay seven top executives bonuses worth millions of dollars if they stayed with the company until February 2005.
In addition, unbeknownst to workers when they were voting to give up tens of thousands of dollars apiece to “save” the airline, company directors last year had authorized setting aside $41 million for a special executive pension plan in a trust that would be protected from creditors in the event of bankruptcy.
The existence of these perks became public only with the filing of the company’s annual 10-K report with the Securities and Exchange Commission (SEC) on April 15, two weeks overdue. While Carty had vowed he would be “fully open” with the unions about the company’s dire financial condition during negotiations, it was evident that the company had delayed the SEC filing until after securing ratification of the concessions agreements.
Carty resigned after spending the prior week trying to defend American’s executive compensation policies as vital to keeping key managers from jumping ship or retiring early. This alibi only served to further anger the airlines workers.

The media portrayed Carty’s forced resignation as the result of some mistake—a “misstep” according to the New York Times, and a “gaffe” according to the Wall Street Journal. Such words are intended to minimize both the premeditation and rapaciousness of the top executives, while suggesting that the self-aggrandizing behavior of the American Airlines bosses is an aberration.

700UW pretty much covered the rest.
So, bite me!
B) xUT

 

[700UW]

Great post UT, joshie needs to give up, he keeps digging himself a deeper hole with his lies and misinformation, maybe he needs to take his own advice.

 

[xUT]

Great post UT, joshie needs to give up, he keeps digging himself a deeper hole with his lies and misinformation, maybe he needs to take his own advice.

Thanks, you as well.
I hope he doesn't start stalking me cause I'm skert N'Chit...

 

[Bob Owens]

Whatever management gets on exit from bankruptcy isn't coming from you -- it is coming from the new shareholders.

What's the book value of the ownership stake in the pilot TA?...

Sounds like y'all have your chance for an equity stake, too, if you want. But that's the difference. You piss & moan about the equity stakes that management will get (and can sell off), but don't want any of the risk associated to it (i.e. look at Facebook's IPO).

Its coming from the shareholders as a reward for what they were able to steal from us, so ultimately it does come from us.

 

[737823]

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