I'm not trying to stir the pot, nor would I wish any misfortune for my buds at UAL, but I certainly can see our leadership just biding their time to see who bleeds to death first. I'm not sure why I keep hearing rumors of AA and CAL picking up pieces of UAL on the auction block, but they must come from somewhere. The reports of UAL and LLC (Airways) chatting could also be to keep CAL at the table. There is no scenario where all of us fair well. I guess we continue to play the waiting game. I'm still trying to comprehend how two anchors tied to each other can stay afloat. What do I know? I went to pilot college.

 

I just heard that as well today.. I think we need to say a little prayer for ALL of US in this business this year. The second perfect storm is about strike.

AAflyer

 

I can't help but speculate, even though I should only care about myself (I'm a true pilot). Glad I'm not the only one hearing that rumor. I gotta ask - what would that do for the TWO THOUSAND guys on furlough on your property still? Any plans to accelerate the parking of the MD's and increase 737 deliveries? That would point to something...

 

Ah yes, the UAL fragmentation rumors are back. That didn't take long. Chip Munn wrote about this many times on USAviation.com and how USAirways was going to get a bunch of pieces of UAL back in 03/04/05. He even had a couple of them called 'UCT' and 'ICT.' I forgot what the U and I stood for; they were his vision of Corporate Transactions where USAirways got the bulk of United and AMR getting the Pacific routes.
Where, pray tell, would AMR and CAL get the money to pay for the pieces of UAL? If it's on the auction block, you'd be bidding against every airline out there.

It's extremely premature to be discussing the fragmentation of United.

 

I've heard that Larry Kellner was meeting with some of the folks in the training center today, possibly talking about some merger info. Anyone have any info that they can share?

 

The chief executive of Continental Airlines Inc. received total compensation last year of $7.3 million, about 6 percent less than he got in 2006, according to documents filed Tuesday.

Larry Kellner, 49, had a base salary of $712,500, according to the company's proxy filing in advance of its June 11 annual meeting in Houston.

His compensation also included:

Stock awards valued at about $2.6 million.

An increase in pension value of $705,460 (reflecting changes in mortality assumptions, new contributions and other factors).

$3.3 million in nonstock performance awards.

$43,000 in other compensation, including flight benefits, a $16,000 tax reimbursement tied to the flight benefits, a company car, financial planning and tax services, and reserved parking at Continental headquarters and Houston's George Bush Intercontinental Airport.

Kellner also was compensated for legal fees stemming from a review of his employment contract.

Kellner and President Jeffrey Smisek waived a 2 percent salary increase given to all Continental employees except flight attendants in 2007. The money went instead to "We Care," a fund to help employees facing unexpected emergencies.

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That's actually less pay than I expected. I'm not defending CEO pay, especially as we're under a concessionary contract, but aren't some of the CEO's at other carriers getting compensated WAAAAY more than this as they continue to lose HUNDREDS of millions QUARTERLY?

 

Some additional info I found:
Current Salaries: Kellner=$752,083 Smisek=$600,000 Misner=$375,000

Kellner and Smisek both live in Houston in $1.6M homes. Given their salaries and bonuses they could have gone much higher. Although, then their other homes might of had to cost less.

 

Kellner has a home in Laguna Beach, CA that's worth a hell of a lot more than $1.6 and is building another one in Santa Barbara.