CEO of AMR got $6.6 million in 2007

[Hatu]

CEO of American Airlines parent got $6.6 million in compensation last year


DALLAS (AP) -- The chief executive of American Airlines, the nation's largest carrier, got a 21 percent increase to $6.6 million in compensation in 2007, the company's most profitable year since 2000, according to information disclosed in a regulatory filing Friday.

Shareholders of AMR Corp. didn't fare as well last year. The stock fell 54 percent.

AMR also disclosed Friday that Gerard J. Arpey received a stock award worth $1.7 million this week under a compensation plan hotly criticized by American's unions.

Analysts believe AMR won't turn an annual profit again until at least 2011.

http://biz.yahoo.com/ap/080418/amr_executi...ation.html?.v=2

 

[WeAAsles]

After all of the abysmal news surrounding American the last few weeks this man Arpey has the nerve to take a bonus this year? Just how disconnected is this man from reality? Where's the leadership in this company? How can anyone on this GB ever wonder why the unions are up in arms? What happened to the Pull Together Win Together tennant? Where's the shared sacrifice? This man Arpey and his cronies should be ashamed of themselves.

At the end of the day if it ever happens it's not going to be the unions that bring this great company down, it's going to be the greed and avarice of these weaasles. :down:

 

[eolesen]

You cash your paychecks, and he cashed his. Deal with it.

 

[Flyboy4u]

You cash your paychecks, and he cashed his. Deal with it.

You are correct, I cashed mine, unfortunately it is 33% less than it was over 5 years ago...Apparently, you think AArpey is leadership?....If he is such a leader, please tell me what he has done for the benefit of this company? By the way, who is pAAying you to post such rediculous posts? Hmmmm.....I can guarntee it is someone at Centerpoint!...What's happening here at AA is nothing more than a total sell out of all of the hard working employees at this company...They will take everything, leaving the workers without nothing and withtout a job..This same scenario, has been played out ,time, and time again. The latest being TWA....The only positive that has been accomplished is that I have had the pooprtunity to fly with, and get to know, what great folks the TWA employees really are.

I only hope the employees at my compAAny will take, what others have had to endure, and learn from it?.....If you don't have a backup plan for your (this AA) job, then now is the time to find one...It's only a mAAter of time before you will have no choice...Your management team has decided to take money, in the form of bonuses, from a profit losing company, and throw it in the face of the hard working employees who continue to endure the hardships of their mistakes.

BTW...Those of you on this board who continue to rant that "If it's contractual", then it is right per agreements in 2003....So, Management has a contract that gives them a "BONUS" check on top of their already paid salary....The operative word here being "BONUS". BTW....Does anyone know the definition of "BONUS"? Please post it! Some of us on this board obviously don't know what that means!

 

[BigBangTheory]

You cash your paychecks, and he cashed his. Deal with it.

FYI...His was not a paycheck. It was a bonus. Big difference between the two. Do you consider a bonus a paycheck? Last time I checked, a bonus was something you earn for good work, making your company operate with no hicups and turning a profit.

Hmm, lets take a look. AMR stock is down 75% since last year, the MD80 issue and reporting a $328 million dollar 1Q loss. Now that's the type of CEO who deserves a bonus...NOT!

The the rank and file are still working with less pay, benefits, vacation and sick accural. I along with my 18,000 f/a co-workers took a 33% paycut and FURP boy gets a 21% pay increase, $6.6 million compensation in 2007 and he takes a $1.7 million dollar bonus. How pathetic Arpey is. RESIGN!!!

 

[MAH4546]

Get over it and deal with it.

Management gets paid more. It's a fact of life. They should have no shame in taking bonuses and getting paid more. The only shame that should exist is in the selfish and ungrateful unions.

Management is also the reason that AA, and their pilot's pensions, is still around.

Don't like the fact that mangement gets paid well? Quit and stop being selfish. Plenty of people will take your jobs, AA won't miss you.

 

[WingNaPrayer]

Insider Trading Forms For:

Garton
Arpey
Reding
Horton
Kennedy

 

[LGA Fleet Service]

.

 

[flyastrojets]

Just curious... what timeframe is the PSP "bonus" based on. Isn't it last year's performance?

 

[FWAAA]

Just curious... what timeframe is the PSP "bonus" based on. Isn't it last year's performance?

Yes, relative stock performance for 3 years ended 12/31/07.

 

[eolesen]

Just curious... what timeframe is the PSP "bonus" based on. Isn't it last year's performance?

First, it's not a bonus. Profit sharing isn't a bonus, either. A bonus is an arbitrary amount, where both PUP/PSP and profit sharing are based on pre-defined formulas. The $800 paid out earlier this year was a bonus.

And no, it's not based on last year's performance. AIP and Profit Sharing are based on last year's performance.

PSP/PUP is based on three year share performance. AMR has done better on a three year return, and the plan has paid out three years in a row because of the wave they rode in 2003 and 2004. At some point, it will underperform the peer group. And then, the PSP's will pay out less for three consecutive years (or more) as a result.


Go read the proxy statement. 15% of Arpey's compensation is his base pay, 15% is short term incentive (i.e. previous year's performance), and the remaining 70% is long term compensation (3+ years). Arpey's short term didn't pay out (and neither did any other exec's).

 

[lpbrian]

Yes, it is a bonus. Anything not expected or guaranteed is a bonus. Our measly $800 was a bonus. I did'nt expect it, but I'll take it. Anyhow, I'm not in a lather over this. APFA's stupid PR stunt is not very widespread 'cuz I did'nt see any "resign" buttons anywhere today.

 

[lpbrian]

PSP/PUP is based on three year share performance

Share performance???!! Wow, is it doing that good?

 

[local 12 proud]

First, it's not a bonus. Profit sharing isn't a bonus, either. A bonus is an arbitrary amount, where both PUP/PSP and profit sharing are based on pre-defined formulas. The $800 paid out earlier this year was a bonus.

And no, it's not based on last year's performance. AIP and Profit Sharing are based on last year's performance.

PSP/PUP is based on three year share performance. AMR has done better on a three year return, and the plan has paid out three years in a row because of the wave they rode in 2003 and 2004. At some point, it will underperform the peer group. And then, the PSP's will pay out less for three consecutive years (or more) as a result.


Go read the proxy statement. 15% of Arpey's compensation is his base pay, 15% is short term incentive (i.e. previous year's performance), and the remaining 70% is long term compensation (3+ years). Arpey's short term didn't pay out (and neither did any other exec's).

Yea call it what ya want....

A reward for driving a once proud airline into the ground.... Kudos to Arpey and gang!

 

[lpbrian]

EOlsean says our stock is soaring!!