PUP Payouts for April Now Finalized...

[ILS2MINIMUMS]

2004/2006 Performance Share Plan Payout Finalized

Based on the Average Daily Closing Price for the final three months of 2006, AMR finished first among the "comparator" group for the period January 1, 2004 - December 31, 2006. As a result, Performance Share Plan recipients will receive 175 percent of their "target bonuses".

The total Performance Share Plan payout, which will occur April 18, 2007, will be $191,204,750. The top four recipients, which include Gerard Arpey, Dan Garton, Bob Reding, and Gary Kennedy, will receive over $16 million. Garton, Reding and Kennedy will also receive deferred shares bringing the total payout for these four individuals to over $17.6 million.

 

[TWU informer]

I feel better now!

I thought they would get much more....

Can I lick their boot too, for a small taste of what that is like?

 

[Hackman]

Just as I had predicted, close to $200 million!!!!. That HUGE amount of money would go a long way to reimbursing the front line employees the MASSIVE sacrifices we have all endured.

MANAGEMENT MONEY GRAB II has begun..... :down: :down: :down:


THE "WORKING TOGETHER" BULLSH*T IS OVER!!!! :angry: :angry: :angry:

 

[NewHampshire Black Bears]

First a question, then a statement !

Q, Does anyone think that the "lemmings" in TUL/AFW/DFW will FINALLY wake up, and team up with the line AMT's to, rid you all, (like a overdue/much needed ..BOWEL MOVEMENT) of the SCUM BAG twu. ???

And,

Desperate times..beget..DESPERATE MEASURES.
WORK SAFELY...WORK to RULE !!!!!

NH/BB's

 

[TWU informer]

Idiots in Tulsa think replacing Dennis Burchette this summer will suffice for change.

No attempt to oust the TWU.

I personally have come to believe they (TWU Stooges in Tulsa) deserve what is coming, it is the unwilling line mechanics that have my sympathy.

 

[Hopeful]

To all on this board:

Please accept my apology. I had been hearing that the payout would be between $300-400 million dollars. I feel quite embarrassed that is only close to $192 million.

It makes a world of difference that it is such a small amount. When I look at this number, I realize that the most wonderful management team in the business should get more.

I thank my lucky stars that in April when the big boys get this money, I can proudly look at me EPAYS statement and be thankful for my $.43 an hour increase!


Once again, please accept my sincerest apology!


PS: DID BURCHETTE PUT HIS HAND DEEP INTO THE COMPANY'S LINING-LESS POCKETS YET?

 

[eolesen]

$191M spread equally amongst 80,000 employees comes to about $2400 per employee before taxes. Translated into pay, it's around $1.15 per hour of an increase.

Not exactly what I'd consider coming a long way to compensating employees for concessions, but it is still the wrong thing to be doing with nothing going to the other 70,000 (which is the case between the profit sharing and management incentive plans -- one plan doesn't pay out without the other paying out).

 

[Hopeful]

$191M spread equally amongst 80,000 employees comes to about $2400 per employee before taxes. Translated into pay, it's around $1.15 per hour of an increase.

Not exactly what I'd consider coming a long way to compensating employees for concessions, but it is still the wrong thing to be doing with nothing going to the other 70,000 (which is the case between the profit sharing and management incentive plans -- one plan doesn't pay out without the other paying out).

Nice try to rationalize the payout. Too bad it is not spread out among 80,000 people. But if they use last years payout as a model, then it will be spread out among the top 1000 managers in the company.
So lets use your math:

$191m spread equally amongst 1000 employees comes to about $191,000 per employee before taxes. Translated into pay, it's around $91.00 an hour.

You may scoff at $1.15 per hour increase, but since our pensions are calculated on base pay and not bonus or overtime, that $1.15 adds up over the long term.

 

[limit]

You may scoff at $1.15 per hour increase,

At this point i would be glad to get $1.15 and pay some bills.

 

[eolesen]

I'm not trying to rationalize the payouts at all -- just refuting the point that a $2400 payout to every employee would do anything to make people whole from the 2003 concessions.

It doesn't even come close, although I will admit that a $1.15 raise would be welcomed by just about anyone.

Go check my posts from 2006, and you'll see I was just as opposed to these payouts when I was still a manager at AMR. I also made a point of voicing that with every managing director and VP I came into contact with, as well as every L5 and L6 I knew was in the plan.

Rather than piss and moan about it here, I suggest you try to do something about it.

The Board of Directors still has to approve these payouts, so if you still own stock, write the board of directors and express your displeasure.

Submit letters to the editor of every newspaper you subscribe to, and ask that they take a position.

Write your congress critters and point out the hypocracy of granting pension reform because the airlines are in poor shape yet management is giving itself bonuses while the workers get absolutely nothing.


Better yet, start leafletting customers legally...


It might be a futile effort, but unless there's some form of outward pressure on the board, I don't see management fixing their blunder.

 

[Hopeful]

What is more appalling is the fact that these guys go before Congress and plead their case that they need to defer their pension obligations but accept payouts like these.

As for suggesting the Board Of Directors might do something to derail these payouts, I don't think that will happen.

The Board of Directors are usually fat cats themselves with other companies.

 

[Wretched Wrench]

As for suggesting the Board Of Directors might do something to derail these payouts, I don't think that will happen.

The Board of Directors are usually fat cats themselves with other companies.

Aye, there's the rub.

 

[Hopeful]

Aye, there's the rub.

I am repeating this comment from another post.

Keep in mind that when the Board of Directors approve CEO compensation packages and executive payouts, the are not spending their own money!