Hey Bruce!

[700UW]

To take the appropriate lead in these cost reductions, President and Chief Operating Officer Larry Kellner, who becomes chairman and CEO at the end of this year, has agreed, effective Feb. 28, 2005, to reduce both his base salary and his annual and long-term performance compensation by 25 percent. Also effective on that date, Executive Vice President Jeff Smisek, Continental's president-elect, has agreed to reduce both his base salary and his annual and long-term performance compensation by 20 percent. Both Kellner and Smisek will also decline to accept their annual bonus if earned for 2004.

Additionally, the company's three other most senior executives (Jim Compton, executive vice president-marketing; Jeff Misner, executive vice president and chief financial officer; and Mark Moran, executive vice president-operations) have agreed to reduce both their base salary and their annual and long-term performance compensation by 20 percent, effective Feb. 28, 2005

Continental employees' contributions will represent an investment in their future, as their participation helps assure their long-term careers at Continental. The company will offer eligible employees enhanced profit sharing programs that will allow them to share more significantly in the company's future success. Also, Continental will continue its on-time performance, perfect attendance and other incentive programs that provide a positive financial benefit to both employees and the company.

 

[robbedagain]

it sure would be nice to have a real leader who could lead but unfortunately at usair we'll never have anyone of that good nature.

 

[OldGuyinPA]

Stick a fork in it....

We is done.....Thanks CCY.....what a ...nah not worth it...

 

[Winglet]

He's probably "leading by example" by shoveling money out the back door of CCY along with the other execs.

 

[Schatzee]

That was about all the Comic Relief that CCy can handle at one time. They haven't laughed so hard since they went to TPA. :down:

 

[Dont call me Shirley]

While Mr Lakefield is correct in that reducing his pay would not make a difference to the bottom line, doing so would make for an important symbolic statement. Lee Iacocoa received much acclaim in part due to his $1/yr pledge when Chrysler almost tanked in the early eighties.

Hmm... copies of Mr Iacaca's book should avaible for very little money. Maybe if a bunch of us went to Powells.com or Amazon and sent him a copy. Along with "From Worst to First"...

 

[delldude]

you guys all miss the point...the guy has 2 homes and it would be a huge burden to bear for him at this time.

 

[aerosmith]

leechfield is a pimple. That needs to be popped.

 

[robbedagain]

you guys all miss the point...the guy has 2 homes and it would be a huge burden to bear for him at this time.

[post="202282"][/post]​

yeah but at least he can sell one house and still make up the difference with what should or could have been a 100% paycut!

 

[NYPD]

Lakefield SUCKS.
Glass SUCKS.
Bronner SUCKS.

We will go nowhere until they're gone. Unfortunately, we will probably be gone first.

These evil people should be put in prison.

NUFSAID.

 

[Harry Callahan]

What about "Uncle Al"?

 

[WestCoastGuy]

What about "Uncle Al"?

[post="202634"][/post]​

It is my understanding he is working very hard, 7 days a week, in CCY to make sure the operation of this company runs like a fine swiss watch.

 

[Schatzee]

TICK TICK TICK

Sounds more like an explosive device.

 

[air chief]

Lakefield SUCKS.
Glass SUCKS.
Bronner SUCKS.

We will go nowhere until they're gone. Unfortunately, we will probably be gone first.

These evil people should be put in prison.

NUFSAID.

[post="202527"][/post]​

FORGOT AL CRELLIN :angry:

 

[Zeus]

Lakefield SUCKS.
Glass SUCKS.
Bronner SUCKS.

We will go nowhere until they're gone. Unfortunately, we will probably be gone first.

These evil people should be put in prison.

NUFSAID.

[post="202527"][/post]​

They are not going anywhere. That is one promise that I will make to you.