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Merger OKed, CEO bonus on hold, pilot speaks
AMR merger with US Airways approved, but $20M CEO severance/bonus on hold | LeveragedLoan.com
$20M bonus not currently approved, on hold... A lone American Airlines pilot was among the parties to speak at today’s hearing, reading a prepared statement that decried the large bonus and general lack of leadership among company management over the past decade. He proposed an alternative offer for Horton: $500,000 and free coach tickets for life... AMR merger with US Airways approved, but $20M CEO severance/bonus on hold | LeveragedLoan.com |
"U.S. Bankruptcy Court Judge Sean Lane on Wednesday approved the $11 billion merger to bring together US Airways Group Inc., Charlotte’s dominant airline, with American Airlines parent AMR Corp." Bankruptcy judge approves US Airways-American Airlines merger - Charlotte Business Journal newAmerican has a distinct advantage over DAL and UAL mergers—the flexability of bankruptcy protection. US Airways and American leadership are about to carve, gut and rearrange leases, assets and agreements. |
Originally Posted by misterwl
(Post 1380748)
AMR merger with US Airways approved, but $20M CEO severance/bonus on hold | LeveragedLoan.com
$20M bonus not currently approved, on hold... A lone American Airlines pilot was among the parties to speak at today’s hearing, reading a prepared statement that decried the large bonus and general lack of leadership among company management over the past decade. He proposed an alternative offer for Horton: $500,000 and free coach tickets for life... AMR merger with US Airways approved, but $20M CEO severance/bonus on hold | LeveragedLoan.com |
Originally Posted by misterwl
(Post 1380748)
A lone American Airlines pilot was among the parties to speak at today’s hearing, reading a prepared statement that decried the large bonus and general lack of leadership among company management over the past decade. He proposed an alternative offer for Horton: $500,000 and free coach tickets for life...
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Originally Posted by labbats
(Post 1380899)
I suggest free beer for life for that pilot. Awesome.
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Originally Posted by Senior Skipper
(Post 1380898)
It's good to see that somebody is putting an end to these golden parachutes. I think the $500,000 sounds fair. Coach tickets for life...dunno. Maybe 5-10 years.
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Originally Posted by eaglefly
(Post 1380950)
I think the coach tickets for life is doable if only $500K is involved.........but only if it's the middle seat in the last row. ;)
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These crooks always lawyer themselves around the regulations which in this case are quite clear concerning CEOs of BK companies. Horton is just last in a long line of criminals that managed the country's leading airline into the laughing stock of the industry. CEOs and their management teams should be held fiduciarily libel and the first ones to sacrifice if the company loses money. Remember Horton, Arpey and their managers paid themselves bonuses even as the company was losing billions. In my book that is theft,and they are criminals.
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Originally Posted by Night Hawk 6
(Post 1381212)
These crooks always lawyer themselves around the regulations which in this case are quite clear concerning CEOs of BK companies. Horton is just last in a long line of criminals that managed the country's leading airline into the laughing stock of the industry. CEOs and their management teams should be held fiduciarily libel and the first ones to sacrifice if the company loses money. Remember Horton, Arpey and their managers paid themselves bonuses even as the company was losing billions. In my book that is theft,and they are criminals.
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Originally Posted by Night Hawk 6
(Post 1381212)
These crooks always lawyer themselves around the regulations which in this case are quite clear concerning CEOs of BK companies. Horton is just last in a long line of criminals that managed the country's leading airline into the laughing stock of the industry. CEOs and their management teams should be held fiduciarily libel and the first ones to sacrifice if the company loses money. Remember Horton, Arpey and their managers paid themselves bonuses even as the company was losing billions. In my book that is theft,and they are criminals.
US Airways Pilots First to Investigate PBGC-Trusteed Pension - Forbes right out in the open- The criminality of it all just boggles the mind. For more than a decade, the aggregate number of pilots who have been robbed in similar ways, but whose hands have been figuratively tied by the RLA and bankruptcy laws, to have seemingly no recourse-also mind boggling. Will there ever be a day of reckoning? |
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