Rough Times eh?

[FWAAA]

frontline: The big dogs sold most of their PUP/PSP distributions the same week as the prior distributions, so I'd guess that most all of the $300 million was realized in cash shortly after the distribution dates.

Recall that the huge executive bonuses were paid in stock only because of the grievances filed in 2006 when the PUP plan provided most of the payments in cash. The board amended the plans to provide payment in stock instead (under the dubious rationale that stock distributions don't actually cost the company any "cash").

 

[scorpion]

frontline: The big dogs sold most of their PUP/PSP distributions the same week as the prior distributions, so I'd guess that most all of the $300 million was realized in cash shortly after the distribution dates.

Recall that the huge executive bonuses were paid in stock only because of the grievances filed in 2006 when the PUP plan provided most of the payments in cash. The board amended the plans to provide payment in stock instead (under the dubious rationale that stock distributions don't actually cost the company any "cash").

No grievances were filed. What contractual basis would they have to file such a grievance?

 

[Hackman]

Hackjob: not to defend our executives compensation (I don't really care) but what is that $300 million worth now? The ladies and gents of AMR's executive suite get a big chunk of their total package in stock. Stock that has plummeted since early last year. I'll take my paycheck in cash, thanks.

Flatline, I could give a crap what their bonuses are worth now. What's our six years of concessions worth now? What's my reduced paycheck worth now? Fact is management takes millions in bonuses while the company bleeds piles of money. You really don't care, but most of us that aren't subservient like yourself do care. If the stock has plummeted like you state, why are you worried? You'll just take more concessions to compensate right?

Management loves to buffalo clowns like you. They pull the strings and you dance the tune.

If we are forced into a job action, where will you be? Hiding in the corner with soiled undies crying for your mommy? Yep.....

 

[Hopeful]

Hackjob: not to defend our executives compensation (I don't really care) but what is that $300 million worth now? The ladies and gents of AMR's executive suite get a big chunk of their total package in stock. Stock that has plummeted since early last year. I'll take my paycheck in cash, thanks.

You mean your paycheck at levels of 6 years ago?
The executives get compensated regardless...just give em MORE stock.

 

[FWAAA]

No grievances were filed. What contractual basis would they have to file such a grievance?

The three unions at American Airlines (NYSE:AMR)--the Allied Pilots Association, the Association of Professional Flight Attendants and the Transport Workers Union--each filed presidential grievances today over the bonuses that approximately 1,000 management employees are slated to receive in April under the airline's management Performance Unit Plan.

http://www.redorbit.com/news/business/3687...nces_over_cash/

LABOR UNIONS AT AMERICAN AIRLINES FILE SIMULTANEOUS GRIEVANCES OVER CASH BONUSES FOR EXECUTIVES

Fort Worth, Texas (January 24, 2006)—The three unions at American Airlines (NYSE: AMR)—the Allied Pilots Association, the Association of Professional Flight Attendants and the Transport Workers Union—each filed presidential grievances today over the bonuses that approximately 1,000 management employees are slated to receive in April under the airline’s management Performance Unit Plan.

http://www.alliedpilots.org/Public/PublicR...es/20060124.pdf

I read it on the interwebs so it must be true.