American Air Execs Sell $64 Million in Stock

[767 mechanic]

While Parker wasn't there the management team from USAIR met with the TWU around a year and a half ago. The showed us a bunch of films showing how happy their workforce was to be working at bottom of the industry wages, and showed us how some guy whose next set of new wheels probably would have been a walker was given a Mustang, the video showed us how old their workforce was, I don't think I saw one person who had hair where it wasn't grey. At this meeting we challenged them as far as why should we support them taking over, after all they treat the workers they already have like crap. Even back then they were stonewalling their mechanics, still are. Bottom of the industry wages, crappy Vacations, Holidays. They insisted that they could not pay what larger carriers paid because they weren't big enough, that once they got bigger they would pay wages like our peers get, yet now they are bigger than any other carrier and they still wont give the IAM a deal that would indicate that we can look forward to them being true to their words.

No doubt Parker will tell us we need to be patient, but they sure as hell aren't ones to lead by example. The only saving grace is that maybe them dumping the stock will start a panic on Wall Street and drive the price down so we get more shares.

AA always told us that they could not pay us like Southwest because we were larger and had overhaul. One time they cant pay because were to big and the next time they cant pay because were to small. The same liars with different faces.

 

[1AA]

AA always told us that they could not pay us like Southwest because we were larger and had overhaul. One time they cant pay because were to big and the next time they cant pay because were to small. The same liars with different faces.

And now with the blessing from the TWU they say they won't pay us because they just do not want too. All the excuses have been exhausted including the latest one, BK.

 

[Jacobin777]

Use Google and then search it, here is one that will work.
 
http://abcnews.go.com/Business/wireStory/american-airlines-ceo-nets-134m-stock-sale-22528358
 
https://www.google.com/#q=american+airlines+executives+sell+stock

 
 
Thanks!
 

He held on to them till now.

 
Yes he held them before they were expiring and had to sell them but maybe he shouldn't have been given an additional $40+ million in AAL stock(at current AAL stock price). <_<
 
The unions were sobbing and whining about Arpey and Horton's pay meanwhile Parker & Co are making out like a bandit courtesy of the the unions...haha!

 

[Zom JFK]

 
 
Thanks!
 
 
Yes he held them before they were expiring and had to sell them but maybe he shouldn't have been given an additional $40+ million in AAL stock(at current AAL stock price). <_<
 
The unions were sobbing and whining about Arpey and Horton's pay meanwhile Parker & Co are making out like a bandit courtesy of the the unions...haha!

He ain't lyin!

 

[Thomas Paine]

Awesome post Bob. If the IAMNPF is so great why is USAIR full of old people?http://www.charlotteobserver.com/2013/05/30/4076053/us-airways-seeks-to-trim-health.html#.UwAJDX-9KSM
Josh

Because of greedy F*&ks like you who stole their pensions .

 

[eolesen]

The unions were sobbing and whining about Arpey and Horton's pay meanwhile Parker & Co are making out like a bandit courtesy of the the unions...haha!

This *is* the airline the unions asked for.

 

[Jacobin777]

He ain't lyin!

 
LOL!
 

This *is* the airline the unions asked for.

 
Yup.........I wonder how long it will take before the various unions start complaing about Parker & Co.

 

[Zom JFK]

Because of greedy F*&ks like you who stole their pensions .

+1000

 

[UPNAWAY]

Lots of envy and misinformed people here, you realize these options had nothing to do with AA, they are from the US/Am West merger. If he doesn't exercise them they go away. He didn't net 20 million more like 13 after exercising the options (more like 8 after taxes). In the 9 years since merger he easily earned that money.
The whole class warfare arguements should be left to third world dictatroships and uneducated pesants, you folks should know better.

 

[700UW]

And what about the tens of thousands of employees who sacrificed a lot more and work even harder to make the company the money?
 
Dont they deserve to be treated with respect and be brought up to wages they havent seen since 13 years ago?

 

[AANOTOK]

Lots of envy and misinformed people here, you realize these options had nothing to do with AA, they are from the US/Am West merger. If he doesn't exercise them they go away. He didn't net 20 million more like 13 after exercising the options (more like 8 after taxes). In the 9 years since merger he easily earned that money.
The whole class warfare arguements should be left to third world dictatroships and uneducated pesants, you folks should know better.

Anyone who can make the comment "He didn't net 20 million more like 13 after exercising the options (more like 8 after taxes), doesn't even qualify for a response other than WOW!

 

[Flying low]

deleted

 

[Thomas Paine]

Lots of envy and misinformed people here, you realize these options had nothing to do with AA, they are from the US/Am West merger. If he doesn't exercise them they go away. He didn't net 20 million more like 13 after exercising the options (more like 8 after taxes). In the 9 years since merger he easily earned that money.
The whole class warfare arguements should be left to third world dictatroships and uneducated pesants, you folks should know better.

They were options correct? Then wouldn't it have been a display of confidence in his plan if he had invested his own money and had purchased those options instead of selling them? Wouldn't buying a stake in the company show everyone how he really feels? Obviously he does not have THAT much confidence in the BS he is selling, and he showed that by his actions. He is not willing to do what he expects the rest of us to do.

 

[Thomas Paine]

He ain't lyin!

yea he is, they were options, he didn't have to sell them, he had to exercise them, that means sell and deduct the price the option was set at or purchase them with his own money. If these guys had any confidence in their own plan they would have purchased those shares. Obviously they are here to rape, pillage then leave when there is nothing left.

 

[Bob Owens]

This is yet another display at how dysfunctional the corporate governance system has become in this country, and how confident these people are that they will never be held accountable by the people they screw. Thirty years ago Parker and those who sold stock at such a critical juncture would have faced termination by the Board for a clear and blatant display in their own lack of confidence in the company, if not then the Unions most certainly would have jumped all over them, especially after the beating the membership has taken under their leadership. Let them eat cake is basically what they are saying, there are no excuses for this Upanaawy, you are nothing but a cowardly apologist. Yes, they should have purchased those shares. Having sunk their own money into the company would have shown to the employees and investors that at least he believes his own hype. His actions show much clearer than his words how he really feels. Take the money and run.

I recall many years ago when Union Carbide was fighting off a takeover attempt, some of the executives had sold off shares in the middle of the takeover attempt which had driven the price up, my fathers boss was livid. The car had a phone in it, took up half the trunk, he was screaming and cursing at them over the phone. Must have been fun when he got to the office. My father said he never saw him that angry before. He wanted to fire them all. He said that selling shares was an act of treason, that it sent the message that they were not confident in the company. He was right. Unfortunately that type of leadership has disappeared from the boardrooms of todays corporations, instead we have a bunch of reckless fratboys who feel they will never be held accountable stealing as much as they can.

IRRESPONSIBLE. Thats the only way to describe what they did.