BOD & CEO same thing when it comes to compensations one hand washes the other. If you thing other wise you are very gullible.
Worse then Franke.....
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BoeingBoy
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Can you cite a reference for that?
In case you're looking for it, try this:
Douglas W Parker, 103,125(1) options, exercise price $12.44, expiration date 3/10/2015
(1) The indicated number represents options granted to the executives on March 10, 2005. The options were granted to the executives by America West Holdings pursuant to its 2002 Incentive Equity Plan.
Source: US Airways proxie statement
Douglas W Parker, 103,125 options exercised on 8/1/2006, exercise price $12.44/share, expiration date 3/10/2015.
Source: SEC Form 4 filed by Douglas W Parker
Jim
I am just curious as to how any of this has anything to do with the problems this airline is currently facing. Doug Parker is the CEO, whether you like it or not, and has been granted a compensation package commensurate with performance. How does his compensation affect you at all?
I for one am not the type of person to throw a fit when a coworker gets a new computer to work on, while I’m still wrestling with a 5-year old PC that can barely do its job. Nor am I one that lingers on the outcome of every merit evaluation. People like that will never be happy – call it the “grass is always greener†syndrome.
I come to work everyday. I do my job everyday. I find something here to keep me here, and keep me happy, everyday. If I’m not happy for the majority of the 45-50 hours every week that I’m working, I’m in the wrong place. Think about it.
From what I’ve seen on these posts, I am certain that this anger and dissatisfaction is not kept here. Instead, it spills into the workplace on a daily basis. There will be much more to go around once everyone stops b**ching about what other people are being paid and starts making the customer experience something we would all be proud of.
And another thing, PHL should look to PHL to fix PHL. Ever hear of soldiering? It’s a concept where workers will only work to the level of performance of their peers. Slackers will encourage more slackers. Hard-driving go-getters will inspire more of the same. There is no magic pill that anyone can bring to PHL to make it work better if those working in PHL aren’t willing to take the responsibility on their shoulders and say “hey, how can I make this better?â€.
This is my first post on these boards, and I know it sounds harsh, but please understand that I am very sympathetic to all labor groups. I just strongly believe that unless you are willing to come with a solution, you have no right to complain about a situation.
I for one am not the type of person to throw a fit when a coworker gets a new computer to work on, while I’m still wrestling with a 5-year old PC that can barely do its job. Nor am I one that lingers on the outcome of every merit evaluation. People like that will never be happy – call it the “grass is always greener†syndrome.
I come to work everyday. I do my job everyday. I find something here to keep me here, and keep me happy, everyday. If I’m not happy for the majority of the 45-50 hours every week that I’m working, I’m in the wrong place. Think about it.
From what I’ve seen on these posts, I am certain that this anger and dissatisfaction is not kept here. Instead, it spills into the workplace on a daily basis. There will be much more to go around once everyone stops b**ching about what other people are being paid and starts making the customer experience something we would all be proud of.
And another thing, PHL should look to PHL to fix PHL. Ever hear of soldiering? It’s a concept where workers will only work to the level of performance of their peers. Slackers will encourage more slackers. Hard-driving go-getters will inspire more of the same. There is no magic pill that anyone can bring to PHL to make it work better if those working in PHL aren’t willing to take the responsibility on their shoulders and say “hey, how can I make this better?â€.
This is my first post on these boards, and I know it sounds harsh, but please understand that I am very sympathetic to all labor groups. I just strongly believe that unless you are willing to come with a solution, you have no right to complain about a situation.
PITbull
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Negative on that big boy.
The majority of the shares he sold last week were granted when U emerged from BK. Some of the old converted to NEW and had NEW expiration dates staring in 2012. They were granted through his new contract from the LCC Board, which was not the AWA BOD.
New players; new stakeholders.
Truth be told...he seized the moment and "spun it" to the press and Labor.
USCREW
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StuckHere,
Welcome, and are you DP?
Welcome, and are you DP?
hp_fa
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I see the low post folks are joining in.
How does executive compensation affect everyone else? Well, it removes money that could have gone to frontline workers and it sends a very bad message to folks that can't get raises but see execs getting lots of money, one way or another.
How's that for starters?
How does executive compensation affect everyone else? Well, it removes money that could have gone to frontline workers and it sends a very bad message to folks that can't get raises but see execs getting lots of money, one way or another.
How's that for starters?
nostradamus
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Quote from Stuckhere
"I for one am not the type of person to throw a fit when a coworker gets a new computer to work on, while I’m still wrestling with a 5-year old PC that can barely do its job. Nor am I one that lingers on the outcome of every merit evaluation. People like that will never be happy – call it the “grass is always greener†syndrome."
Good analogy 14 million dollars vs a new PC.
Is the timing of the transaction of stock options a smart move, considering many negotiations are taking place with workers who have been here for 20 plus years?
Is spewing merger speculation out to the press on a daily basis, then shortly afterward selling the stock involved in merger speculation you started a conflict of interest?
Get to the point in your answers please.
"I for one am not the type of person to throw a fit when a coworker gets a new computer to work on, while I’m still wrestling with a 5-year old PC that can barely do its job. Nor am I one that lingers on the outcome of every merit evaluation. People like that will never be happy – call it the “grass is always greener†syndrome."
Good analogy 14 million dollars vs a new PC.
Is the timing of the transaction of stock options a smart move, considering many negotiations are taking place with workers who have been here for 20 plus years?
Is spewing merger speculation out to the press on a daily basis, then shortly afterward selling the stock involved in merger speculation you started a conflict of interest?
Get to the point in your answers please.
Thank you for your post, it is very enlightening to many.
After you read this board for a while, you will realize that many posts are created from front line employees, who do not have the benefit of working in an office environment where the big picture can be seen, readand heard on a regular basis. Most posts (mostly negative) are from employees that, unfortunately see the operational front which, by nature becomes a point of frustration. Even if you have a great day in the operation...some will find it to be a miserable day. Running the operation for many employees is very very frustrating and they will tend to vent more often than other employees. Just keep that part in mind. Crews can be the worst,but only because they only experience a very small element of of the operation, but it can truly frustrate the hell out of them.
USCREW
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And all this time, I thought that we were the MAIN event, since it is the actual flight that pax are paying for.
nostradamus
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Quote from stuck here.
I come to work everyday. I do my job everyday. I find something here to keep me here, and keep me happy, everyday. If I’m not happy for the majority of the 45-50 hours every week that I’m working, I’m in the wrong place. Think about it.
Drop the doobie and read on Stuck.
After you serve doug coffee in the morning remember this. He is dealing with workers that have been here for longer than your parents paid for every penny of you existance, which you surely still expect today. Your quote translates to if you do not like it get the hell out of here, it will not happen this way.
I come to work everyday. I do my job everyday. I find something here to keep me here, and keep me happy, everyday. If I’m not happy for the majority of the 45-50 hours every week that I’m working, I’m in the wrong place. Think about it.
Drop the doobie and read on Stuck.
After you serve doug coffee in the morning remember this. He is dealing with workers that have been here for longer than your parents paid for every penny of you existance, which you surely still expect today. Your quote translates to if you do not like it get the hell out of here, it will not happen this way.
Crews are not the MAIN event, but rather have to take the pax from where they were left off by the gate/ticket agents. The experience of checking in or the previous flight before a connection can set the tone, making life for the crew miserable or enjoyable, depending on how you handle it.
nycbusdriver
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It is totally understandable that DP would exercise options that were about to expire. But once he exercised those ooptions, he did NOT have to sell those shares and pocket the gains as cash.
If he was too short of cash to exercise the options and hang on to the shares, he could have used some of the gains to offset the cost of retaining possession of most of those shares. If he was really confident in the stock (or, more importantly, confident in his abilities to get the stock price even higher,) he would have held on to enough to make the transaction cash-neutral to his own pocket. Instead, he made the choice to line those pockets with $9 million and eschew the ownership of the shares. It's very telling about DP on many, many levels.
If he was too short of cash to exercise the options and hang on to the shares, he could have used some of the gains to offset the cost of retaining possession of most of those shares. If he was really confident in the stock (or, more importantly, confident in his abilities to get the stock price even higher,) he would have held on to enough to make the transaction cash-neutral to his own pocket. Instead, he made the choice to line those pockets with $9 million and eschew the ownership of the shares. It's very telling about DP on many, many levels.
Well, it looks like I didn't make any friends with my first post, which I admit was rather harsh. Please allow me to rephrase: I understand the frustrations faced by frontline employees. I too have had to deal with customers who are upset for no reason other than they woke up that day. I empathize with everyone who has had to make concessions because that is what their union negotiators agreed to.
However, my point is this: Even if Doug Parker, and all the other executives, worked for free, US Airways would not change the way it compensates front line employees. Why should they? Through the agreed upon concessions, it was made clear that labor is ultimately willing to work for what they are being paid. The market sets a value for every position. Some companies, and some industries, choose to pay either above that market level or below it. The employees who work for either type of company choose to do so.
I admit that I am new to the airline industry, so please fill me in as to when, if ever, airline employees were "well compensated".
I do not intend this post to "translate to if you do not like it get the hell out of here", rather I am suggesting that if you don't like it, make an attempt to improve the situation. Come at it with an action plan, not just a list of grievances.
Finally, back to the original question of the exercised options. I am not one to begrudge anyone their compensation. Was it good timing on Parker's behalf to exercise those options now? Of course not. Did he have the right to do so? Of course he did. I don't presume to know what Parker's personal financial situation is, so I will not pass judgment on his motivations to take such action now.
I hope that this clears up my previous post. Also, thanks to UWCactus who clarified for me the role of these message boards.
Cheers.
However, my point is this: Even if Doug Parker, and all the other executives, worked for free, US Airways would not change the way it compensates front line employees. Why should they? Through the agreed upon concessions, it was made clear that labor is ultimately willing to work for what they are being paid. The market sets a value for every position. Some companies, and some industries, choose to pay either above that market level or below it. The employees who work for either type of company choose to do so.
I admit that I am new to the airline industry, so please fill me in as to when, if ever, airline employees were "well compensated".
I do not intend this post to "translate to if you do not like it get the hell out of here", rather I am suggesting that if you don't like it, make an attempt to improve the situation. Come at it with an action plan, not just a list of grievances.
Finally, back to the original question of the exercised options. I am not one to begrudge anyone their compensation. Was it good timing on Parker's behalf to exercise those options now? Of course not. Did he have the right to do so? Of course he did. I don't presume to know what Parker's personal financial situation is, so I will not pass judgment on his motivations to take such action now.
I hope that this clears up my previous post. Also, thanks to UWCactus who clarified for me the role of these message boards.
Cheers.
