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

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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.
 
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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.
 
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/
 
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?