AMR CEO Horton to Get $19.9 Million in US Airways Merger

[700UW]

http://www.bloomberg.com/news/2013-02-14/amr-ceo-horton-to-get-19-9-million-in-us-airways-merger.html



AMR CEO Horton to Get $19.9 Million in US Airways Merger

By Mary
AMR Corp. Chief Executive Officer Tom Horton will receive $19.9 million in compensation as the parent of American Airlines merges with US Airways Group Inc. and he steps aside.
Horton will receive the half-cash, half-stock payment when the deal closes, AMR said today in a regulatory filing. He will remain chairman until the combined airline’s first shareholder meeting and in that role will receive non-employee director compensation, according to the filing.

 

[Black Magic]

Damn..I wish I could run a company into bankruptcy and walk away with $19.9 million. I guess the only good news is that payment is probably less than he would have gotten had he stayed ceo.

 

[Harry Callahan]

Damn..I wish I could run a company into bankruptcy and walk away with $19.9 million. I guess the only good news is that payment is probably less than he would have gotten had he stayed ceo.

That's a BIG +1. I could easily go on that.

 

[ChockJockey]

Damn..I wish I could run a company into bankruptcy and walk away with $19.9 million. I guess the only good news is that payment is probably less than he would have gotten had he stayed ceo.

I don't think he became CEO until the day of or after AA declared BK.

 

[firedougparker]

This will pale compared to the giant slice of cake Doug takes from the new airline. Have to buy a new house in Dallas, after all!

 

[700UW]

US Trustee files objection to the merger due to executive payouts.

http://aviationblog.dallasnews.com/2013/03/u-s-trustee-objects-to-merger-proposal-because-of-management-compensation.html/

 

[ContUNITEus]

I find it amazing that here in America we are against re-distribution of wealth from the rich to the poor, yet we totally tolerate this.

So this CEO wrings out millions from the employees and then gives a large part of it to himself.

If that's not redistribution of wealth, then what is?

 

[jimntx]

Contuniteus, I agree. On the other hand, $19.9 million is a small price to pay to get him to go away.

 

[silverbird007]

I got some feathers, anybody got any tar?

 

[Monkee]

This will pale compared to the giant slice of cake Doug takes from the new airline. Have to buy a new house in Dallas, after all!

Johnny One Note strikes again.

Parker owns you.

 

[Redneck]

I got some feathers, anybody got any tar?

I got a stack of cinder blocks that need a good home in DFW.

 

[Real tired]

Maybe I better not say anything, so prepare to "gag".

Click:
http://www.forbes.co...ines-employees/

 

[700UW]

Thats crazy.