Unions Oppose Executive Incentive Plan At Usair

[Schatzee]

How about giving them this:

View attachment 3292

 

[HPGUY]

LMAO An interesting incentive plan you've invented.

 

[qwerty]

Bob, I though I was clear in previous posts. A small investment of retention keeps the fuel flowing and the IRS/SEC happy.

Some one threw out the figure of $12M, but I doubt it's nearly that rich.

Pitbull - good luck with NW, the F/A's need help, it's going to hurt a little though.

 

[ClueByFour]

And do you think Luth would work for what anyone up there makes?

No. The difference is that Luth knows what he is doing and is good at it.

Nobody at US at the executive level is above average in their peer group. Most are not even average. Luth is the best in the world at what he does.

Large difference.

Is US better off right now, than a year ago? Two years ago? 3?

Define "better off?" The combined airline is smaller than US pre-9/11. Everything on the property is hocked, and the entire entitiy is only around due to the generous dose of taxpayer funded help in the form of the ATSB. It's more apropos to state that virtually no real progress has been made (a trained monkey can beat labor in bankruptcy) with the exception of the sale. Gee, Wolf had that idea in '98 or so.

And yes, NW started down a road that will make them a stronger company (or part of a stronger company). The first step was to cut costs and send a message to labor that it was a neccessary evil. I'd ask you to go see if the AMFA got the message, but that's too easy - go ask the Flight Attendents.

As US has aptly proven (and Southwest regularly demonstrates), beating labor does not, by itself, produce a profit. It takes operational acumen and strategic vision--two things which have been lacking in CCY for years.

Southwest may be next, after CO, Gary Kelley already admitted as much.

[post="300761"][/post]​

Now the truly wishfull thinking begins. Since LUV set the bar for fares, they can continue to grab a $3 fare increase every 6 months or so. You will note that they have traditionally done so (even without crazy oil prices and such). LUV also lowered it's unit costs YOY in the face of rising labor costs--that tells me that LUV's management can drive non-labor costs out of the business--something that US has basically never done (oh, except for Luth--see above).

Face it--the CCY denizens were and are losers (from a business standpoint). In every last respect.

 

[BoeingBoy]

So in other words....

You're assuming that the BOD met it's fiduciary responsibilities, and

You're assuming that most of these senior executive deserve this, and

You're assuming that this is cheaper than not doing it, and

Based on that string of assumptions, you're stating as fact that it's a good thing, and

You dismiss evidence to the contrary.

Have I got that about right?

Jim

 

[PITbull]

Well just look who the cats brought in..... B)

 

[ua767fo]

I spent between $6:00 to $8:00 per segment on candy for the flight crews. I've done 92 segments so do the math. It wasn't Hershey Kisses it was Ghird

NO MORE!!! If Teddy asks me to resume I will, but NOT before.

[post="300304"][/post]​

Bob,
Thats a tremendous gesture on your part. Nice touch of class.

Denver, CO

 

[longing4piedmont]

Some one threw out the figure of $12M, but I doubt it's nearly that rich.

[post="300793"][/post]​

You must be good friends with USA320pilot. Don't ever, ever doubt the Boeing Boy.

US Airways about to exit bankruptcy as 2 more airlines file Chapter 11

"He intends to hear objections today from several unions that are taking issue with a company proposal to grant top executives, including outgoing Chief Executive Officer Bruce Lakefield, incentive packages totaling $12 million."

So answer me this. Why is Bruce, a gentlemen who doesn't know a Boeing from an Airbus, so valuable that he should be getting a dime?

regards,

l4pi

 

[Schatzee]

BTW does anyone have a link or a PDF of the actual filing for the bonuses? Time for us to start writing letters to the editor of EVERY Newspaper in ever market that US Airways serves. We need to reach the 72,000 customers who lost bags over Christmas. Let them know that the airline that ruined their holiday is trying to cash in at their expense.

[post="300846"][/post]​

I'm going blind at the Donlinrecano site but here is the CWA filing for the money grubbers: http://www.donlinrecano.net/mp.dr3?p1=dock...5=0&p6=04-13819

Click on Part 1, then page 4 is where you will start to see the $12 million figure mentioned for the greedy but needy....... :censored:

 

[700UW]

According to an objection filed by the International Association of Machinists, US Airways is proposing to provide top executives with up to $5 million total in what the airline is calling a "Cash Performance Award."

The bonuses would be "on top of generous stock incentives provided to those employees," the IAM filing said. That means highly compensated senior executives "can receive seven-figure bonuses while the union membership can look forward to more work for substantially less compensation."

Beaver Times Online

 

[PITMTC]

The Association of Flight Attendants has agreed not to object to the overall plan, in return for improvements in sick leave, sick-call penalties and the profit-sharing plan, said Teddy Xidas, president of the Pittsburgh local and national US Airways' flight attendants' union.

Bravo to the AFA for thinking about their members instead of only who else gets or does not get anything.

 

[700UW]

And now for the rest of the story:

"They bought us off, basically," she said.

However, Xidas said the union reserves "the right to object to any transition, retention or severance bonus for senior management, and we will object."

Flight attendants have been through rounds of concessions; many others have lost jobs. On Sept. 1, the most recent staff cuts took 60 more Pittsburgh flight attendant jobs, part of a systemwide cut of 400, Xidas said.

 

[700UW]

IAM's Objection

 

[jimcfs]

Click on Part 1, then page 4 is where you will start to see the $12 million figure mentioned for the greedy but needy....... :censored:

[post="300932"][/post]​

Is that like the people in NOLA who were seen stealing TVs and walking through waist deep water?

 

[PITbull]

The Association of Flight Attendants has agreed not to object to the overall plan, in return for improvements in sick leave, sick-call penalties and the profit-sharing plan, said Teddy Xidas, president of the Pittsburgh local and national US Airways' flight attendants' union.

Bravo to the AFA for thinking about their members instead of only who else gets or does not get anything.

[post="300962"][/post]​

We also negotiated 270 days medical at active rate for all medical leaves. Side letter on the ALPA DH dispute would have cost us $7.5 milion, we had that removed. Modified restrictions on term pass usage for folks who are disabled Vs. total restriction of 2 passes while on medical leave.

However, we reserved the right to object to the Transition retention/severance program of $12million for 23 execs. WE submtted the brief this morning to maintain that objection.