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NY times artical

Quote:

Originally Posted by jwes (Post 1227221)

American Airlines and US Airways Dance Around a Merger - NYTimes.com

Wow, $600,000,000. Well, if the pilots foot the bill it's only 60 grand each. Gotta love management.

It's sounds like they are preparing to rip that place off for millions leaving the employee's holding the bag....

Almost as bad as some Mitt Romney bain capital scam almost...:eek:

All you can do is Vote "NO"

Quote:

Originally Posted by mvndc10 (Post 1227262)

Four Pinocchio's for you.

Four Pinocchios for ‘King of Bain’ - The Washington Post

On the main point Horton could actually be the devil. Vote accordingly.

Quote:

It must also be noted that Mr. Horton has rejected two pay increases from American’s board and works without an employment contract. He is paid $660,000 annually while the company is in bankruptcy. Advisers close to the company say he is alert to the appearance of excessive compensation and may not seek an outsize compensation package upon exiting bankruptcy.

That is pretty interesting. People see that amount of pay and think it is a lot, but that is incredibly low for a CEO with the responsibility for such a huge company like American.

Quote:

Originally Posted by jwes (Post 1227221)

American Airlines and US Airways Dance Around a Merger - NYTimes.com

DO you mean ARTICLE?

Quote:

Originally Posted by iahflyr (Post 1229478)

That is pretty interesting. People see that amount of pay and think it is a lot, but that is incredibly low for a CEO with the responsibility for such a huge company like American.

I'm sure that doesn't include all the extra's If you look at Forbes, CEO compensation list, Horton makes more than Warren Buffet and Larry Page at Google. Annual salary is a little different than net worth.
Moreover what responsibility does Horton have?

CEO Compensation, 2012

Quote:

Originally Posted by iahflyr (Post 1229478)

That is pretty interesting. People see that amount of pay and think it is a lot, but that is incredibly low for a CEO with the responsibility for such a huge company like American.

The problem is Mr Horton and company failed. Bankruptcy is the failure of a business. If this was Japan, upper management would commit ritual suicide from the dishonor. Instead they are commended for not raping and pillaging more than they aleady are. The main point of this article is that management is rewarded for failure. There is ZERO accountability. I'd be very thorough on my next preflight (as always) after hearing all of this.

Quote:

Originally Posted by mrmak2 (Post 1229777)

Yep, executive compensation should be ZERO (or no more than the lowest full time worker) if a company goes into bankruptcy. When it comes out, it can resume whatever is appropriate for the company at that level. If this is a problem and people fear that it would not attract proper management, that should be a red-flag that the business is not sustainable on a basic level. In that case, it should not proceed through chapter 11. If it's a matter of restructuring and getting it back on it's feet, then the reward is being able to act as an exec after it's restructured. Otherwise, we are rewarding failure.