American Air chairman says won''t take salary, raise

[AAquila]

Headline: American Air's CEO Arpey says won't take a raise
By CBS.MarketWatch.com 5/21/2003 11:46:01 AM


Headline: American Air chairman says won't take salary
By CBS.MarketWatch.com 5/21/2003 1141 AM



http://cbs.marketwatch.com/tools/quotes/ne...318&siteid=mktw

 

I would hope not. That would be his downfall if he did. I sure dont think it was press worthy to say he isnt taking a raise. We all arent getting any raises you dont see that in the press.....The next thing I want to see in the press is a positive quarter

 

[lownslow]

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On 5/21/2003 1138 AM A77IGW wrote:

I would hope not. That would be his downfall if he did. I sure dont think it was press worthy to say he isnt taking a raise. We all arent getting any raises you dont see that in the press.....The next thing I want to see in the press is a positive quarter

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Why shouldn''t it be press-worthy? After all, he did receive a promotion. Normally, there''s an increase in pay with things such as that. That''s the pay raise he''s declining - so he''ll be making what he made last year, not what Carty made last year.

Think of it this way. Surely there are still some pilots retiring, right? So each 777 captain who retires opens up a slot in the line for another pilot to be promoted to that position as his seniority # improves. With that promotion comes a pay raise, right? So while for doing the same job, you are getting a pay cut, if you take on more responsibility you still get a raise over what you had made prior to that promotion. Arpey is taking on the additional responsiblity but not accepting additional pay. He''s also declining stock options - so he''s taking an effective hit just like the front-line employees. The important thing is that they''re showing that management is taking hits just like non-management, so they''re all in it together....

 

[Bob Owens]

So he is not taking a raise, but is he taking a cut like us? Dont tell me about guys retireing and providing opportunity. The new contract eliminates more than 10% of the Crew Chiefs, and even if I did get CC I would be making less than last year.

His Golden Parachute is still intact also. Why didnt he hang with Carty? Was Carty the only guilty one or the only one ready to retire?

Where is the hit that management is taking? Let me guess-Goodwill!

 

[Oliver Stone''s Apprentice]

He''s taking a cut and then some. 17% or more, without taking into consideration what he is turning down as a promotional raise.

 

[Bob Owens]

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On 5/21/2003 1143 PM eolesen wrote:

He''s taking a cut and then some. 17% or more, without taking into consideration what he is turning down as a promotional raise.

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Poor fella. I dont suppose we will we see him pumping gas for you at your bargain gas station to make ends meet?

 

[lownslow]

Probably not, because executives at his level have very little to no time to spare. I wouldn''t be the least bit surprised if when you calculate his effective hourly rate by dividing his salary by the number of hours worked, he''d actually be no more (or even less) per hour than a 777 captain at AA...

 

[Wretched Wrench]

"He''s taking a cut and then some. 17% or more, without taking into consideration what he is turning down as a promotional raise."
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Despite what AA''s resident one-man claque will say, the truth will not be known until the WSJ does their executive compensation issue again. Do you suppose AA will delay and hide the info again like last time?