PinnaColaba Bankruptcy soon
12-09-2011 | 08:33 AM
#131
Line Holder
Joined: Mar 2010
Posts: 37
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From: Right seat
PINNACLE AIRLINES CORP - FORM 8-K - EX-10.98 - SEAN MENKE AMENDED COMPENSATION AGREEMENT - December 2, 2011
Plus ousted CEO Phil gets a $3million package and Dough Shokey gets close to $36000 a MONTH for 18 months. ***
Plus ousted CEO Phil gets a $3million package and Dough Shokey gets close to $36000 a MONTH for 18 months. ***
12-09-2011 | 09:43 AM
#132
Gets Weekends Off
Joined: Jul 2008
Posts: 366
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From: Stage Left
PINNACLE AIRLINES CORP - FORM 8-K - EX-10.98 - SEAN MENKE AMENDED COMPENSATION AGREEMENT - December 2, 2011
Plus ousted CEO Phil gets a $3million package and Dough Shokey gets close to $36000 a MONTH for 18 months. ***
Plus ousted CEO Phil gets a $3million package and Dough Shokey gets close to $36000 a MONTH for 18 months. ***
I do believe that if I were on this conference call, the first question I would have had for SM would be, "Who in their right mind would sign ANY contract with a management team for those terms knowing full well the condition this industry is in?"
Silence can be so telling.
Of course, we all know the answer to that.
Congratulations, ahead of time, goes out to all of the employees of Pinnacle Holdings for, yet again, subsidizing the "right-sizing" of the company! Congratulations is the correct word, right?!?
12-09-2011 | 10:24 AM
#134
Gets Weekends Off
Joined: Jan 2007
Posts: 158
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From: DC-9 Neo, Right
I agree 100%!! I swear to GOD IN HEAVEN, ALPA better not give management a ******* penny!! If so, screw 'em and boot all of them OUT!!
12-09-2011 | 10:30 AM
#135
ULTP-Ultra Low Tier Pilot
Joined: Dec 2007
Posts: 3,228
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If we are in such a financial mess that requires concessions, why did the company decide a few months ago to give the pilot's 401k and benefits plan to the entire company?
Nobody on the Colgan side, besides the pilots, had a 401k match before this "generous" gift from Menke. So now the pilots will have to give concessions to absorb the costs of this "gift"??
Nobody on the Colgan side, besides the pilots, had a 401k match before this "generous" gift from Menke. So now the pilots will have to give concessions to absorb the costs of this "gift"??
12-09-2011 | 11:39 AM
#136
Bracing for Fallacies
Joined: Jul 2007
Posts: 3,543
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From: In favor of good things, not in favor of bad things
What's the word on hiring? Did they shut it down like Eagle did, or is hiring continuing as normal? If I missed that info, sorry, I don't want to start a flame war.
12-09-2011 | 12:10 PM
#138
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Joined: Jan 2008
Posts: 74
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From: Musical Chairs
My question is, are they gonna re-assess the 11-09 award due to training costs? Or is it a necessary evil when it comes to staffing levels? I wouldn't be surprised if the training pipeline gets shut down after the first of the year. It's not the contract improvements that's making their labor costs skyrocket, it's the training costs from the award. I'd rather the training pace slow down than force us into taking concessions on the contract we have deserved for years.
12-09-2011 | 01:20 PM
#139
Gets Weekends Off
Joined: Mar 2008
Posts: 1,011
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From: Assistant Greens Keeper
My question is, are they gonna re-assess the 11-09 award due to training costs? Or is it a necessary evil when it comes to staffing levels? I wouldn't be surprised if the training pipeline gets shut down after the first of the year. It's not the contract improvements that's making their labor costs skyrocket, it's the training costs from the award. I'd rather the training pace slow down than force us into taking concessions on the contract we have deserved for years.
PT and the rest of his crew paid themselves 35% of the companies income in salaries and the stock saw a 4% increase thats a pretty nice bonus for basically doing nothing.
I'm not giving anything back to this place. Id become a ditch digger before I give back to this place.
12-09-2011 | 01:53 PM
#140
Gets Weekends Off
Joined: Mar 2011
Posts: 134
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I feel obligated to point out that menkles said we NEED to honor trenary and shockey's multi-million dollar severance packages because we as a company are bound to them. since they're contracts.
This statement occurred no more than 5 minutes after him saying hes seeking concessions from the pilot group... who is under contract....
Take a minute and process this. Allowing any concessions from us at all is absolutely ridiculous. Also, loved hearing Mc'lovin on the conference call.
This statement occurred no more than 5 minutes after him saying hes seeking concessions from the pilot group... who is under contract....
Take a minute and process this. Allowing any concessions from us at all is absolutely ridiculous. Also, loved hearing Mc'lovin on the conference call.
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