Executive Compensation Filing

[tadjr]

Business news briefs: 8/5/04
Thursday, August 05, 2004


Filing shows Siegel payout


A new Securities and Exchange Commission filing by US Airways shows that David Siegel received a lump sum of $4.7 million, was granted the right to exercise 660,600 options and 1.1 million shares of restricted stock and was granted health benefits for three years when he resigned in April as chief executive officer. Neal Cohen, who resigned as chief financial officer that month, received $1.5 million, the right to exercise 446,400 options and 376,800 shares and worked as a consultant for three additional months at a cost of $150,00 plus $20,000 in first-class trave

 

[BoeingBoy]

A little off topic here but as good a place as any....

My oldest brother is on the Airport Commission for the small airport in our home town. They've been looking for a new airport manager and got an application from one of our f/o's who took early retirement. In the interim, his resume says he's been the "Director of Embraer Integration" at MDA. Annual salary - $250,000.

Jim

 

[WestCoastGuy]

David Siegel received a lump sum of $4.7 million, was granted the right to exercise 660,600 options and 1.1 million shares of restricted stock and was granted health benefits for three years

Davey boy's mother must be so proud of her son now....

 

[robbedagain]

and this inept mgmt wants the emplyees to take a third round about of concessions????????? yeah right I refuse---they should take back large and large amounts from those two clowns and revoke their first class priviledges and pay back for riding in f/c.. no wonder this airline is in trouble and i hope that the bk judge will see that should the airline file ch11.

 

[whatkindoffreshhell]

and this inept mgmt wants the emplyees to take a third round about of concessions????????? yeah right I refuse---they should take back large and large amounts from those two clowns and revoke their first class priviledges and pay back for riding in f/c.. no wonder this airline is in trouble and i hope that the bk judge will see that should the airline file ch11.

Are you frickin looney tunes??

Siegel/Cohen took advantage of the deal, so did Wolf and all those before.

So did you and Pitbull and everyone who enjoyed way-above market wages for years and years.

And the public paid your outrageous 'industry-leading' packages because we had no other choice.

Now we have a choice.

Lose the attitude buddy. How long did you think the ride would last?

 

[robbedagain]

Are you frickin looney tunes??

Siegel/Cohen took advantage of the deal, so did Wolf and all those before.

So did you and Pitbull and everyone who enjoyed way-above market wages for years and years.

And the public paid your outrageous 'industry-leading' packages because we had no other choice.

Now we have a choice.

Lose the attitude buddy. How long did you think the ride would last?

i'm not looney tunes nor frickin out but i bet you are! if this airline wanted to help themselves, they would have done so by using the methods that the IAM had given them. and no i have never capitalized on the stock options--except to get rid of it earlier this year and the dough wasnt pretty but may be yours was and i also dont have an atittude you sound like you need to drop yours however

 

[AP Tech]

Just maybe when we visit the judge U will get some of that money returned, at least Bruce once said he would explore the possiblity.......yea right.....and if you believe that one Dave was labor friendly!!!!!! :down:

 

[WestCoastGuy]

everyone who enjoyed way-above market wages for years and years.

Our wages have been lower than WN for years. Get the FACTS before you start screaming.

 

[USFlyer]

Just maybe when we visit the judge U will get some of that money returned, at least Bruce once said he would explore the possiblity.......yea right.....and if you believe that one Dave was labor friendly!!!!!! :down:

Folks, Dave was essentially FIRED. All of us would also have taken whatever we could get under the same circumstances. It's a dream to think UAIR will ever see any of this cash again, so just forget about it and move on. It's done. Management at my company just left with golden parachutes as well. It pissed everyone off, but there's really nothing we can do about it.

 

[WestCoastGuy]

It's a dream to think UAIR will ever see any of this cash again, so just forget about it and move on. It's done.

I agree. All we can do at this point is try to affect change so the current regime isn't going to be taking another truck load of money out the back door when they leave.

 

[deltawatch]

A little off topic here but as good a place as any....

My oldest brother is on the Airport Commission for the small airport in our home town. They've been looking for a new airport manager and got an application from one of our f/o's who took early retirement. In the interim, his resume says he's been the "Director of Embraer Integration" at MDA. Annual salary - $250,000.

Jim

You mean to tell me that U pays the "Director of Embraer Integration at MDA", as much as the nation pays the President of the United States!

No wonder this companies looking at a second BK....

 

[Reservation Agent]

And they used millions of concession dollars to pay them......
:down:

 

[MrAeroMan]

The President of The United States now makes $400,000 per year. FYI

 

[thepoohbear]

If you look at Lakefield's contract, he can screw up and walk with a little over 1.25 mil. Who reads these contracts before they give them to these people? Hellen Keller maybe???!!

 

[longing4piedmont]

Wasn't it Cohen who couldn't answer the Bankruptcy judge when asked what his compensation was? I bet he knows how much he walked off with :angry: