New American Airline CEO Parker to get $19.5 million in merger pay

[700UW]

http://www.foxbusiness.com/news/2013/04/15/new-american-airline-ceo-parker-to-get-15-million-in-merger-pay/

US Airways CEO Doug Parker will receive an estimated $19.5 million in merger-related pay for taking over as chief executive of the merged US Airways and American Airlines, the companies said Monday.

 

[LD3]

So much for keeping executive compensation in check.....

 

[DCAJet]

Wrong. Story is wrong, he gets that if he doesnt get the job. He's always had that in his US Airways compensation package. Read the corrected story from Reuters. Reporters got it wrong. If he leaves the job because of a transaction he gets the severance. He writes employees every year about his compensation. Grow up

 

[Crash Pad DCA]

yup. that story has been corrected....$20 million if he DOESNT become CEO
http://finance.yahoo.com/news/american-ceo-19-5-million-235639715.html

...but on another note..

US Airways CEO gets 44 pct hike in compensation

US Airways CEO's compensation rose 44 percent to $5.5 million in 2012

http://finance.yahoo.com/news/us-airways-ceo-gets-44-232843294.html

"Parker said his compensation "is a significant expense for our company" that carries significant responsibility to employees, customers and shareholders."

uh huh...

 

[gabby]

Highest paid Airline CEO and the Lowest Paid Employees.

Sounds about right.

 

[wings396]

Are you sure about the highest paid claim, any numbers to compare?

 

[gabby]

http://travel-industry.uptake.com/blog/2010/05/04/airline-ceo-compensation/

 

[UPNAWAY]

His pay hasn't changed since 9/11/2001 $500,000 a year.

The rest is bonus's and stock options based on the airlines performance.

 

[Crash Pad DCA]

His pay hasn't changed since 9/11/2001 $500,000 a year.

The rest is bonus's and stock options based on the airlines performance.

Hair splitting? Let's just call it "compensation" and understand that you are equating "pay" to "salary" while the rest of us are equating "pay" to "everything you took home from the company".

On that note...

"Parker was paid about $5.5 million last year, up from $3.8 million in 2011. While his base salary stayed the same at $550,000, his incentive compensation rose nearly fivefold as US Airways met financial goals."
http://www.chicagotribune.com/business/breaking/chi-amr-files-to-exit-bankruptcy-opening-door-to-us-airways-deal-20130416,0,5185058.story

 

[LowManOnThePole]

Tied to profit sharing I guess. Heard most US full time topped out employees got between 2000 and 3000 dollars. Must be nice.

 

[wings396]

If coarse Fleet Service didn't, as the IAM let that slip away in the 2008 CBA.

 

[FWAAA]

If coarse Fleet Service didn't, as the IAM let that slip away in the 2008 CBA.

With friends like that, who needs enemies?

 

[wings396]

Believe me, they have made some bonehead moves over the years. The CWA did a far better job all around for their membership. I know its just a matter of time before someone jumps in with how great the IAM pension plan is, but I would forgo that in a second for the CWA contract. The outsourcing issue alone is well worth the tradeoff. All of the stations that lost fleet in 2005 are still staffed with mainline CS agents.

 

[700UW]

 

[nycbusdriver]

The union coalition should place a billboard of this out front of the Tempe HQ, and now the Ft. Worth HQ.