AMR chief executive receives $5.4 mln for 2006

Hatu

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Aug 20, 2002
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CHICAGO (Reuters) - The chief executive at AMR Corp. (NYSE:AMR - News) received $5.4 million for 2006, mostly in stock-based compensation, the parent company of American Airlines said in a government filing on Friday.

AMR also said that a stock award for Arpey that vested on Wednesday would be paid at $6.64 million as part of his 2007 compensation.

http://biz.yahoo.com/rb/070420/amr_execpay.html?.v=1
 
I wish people would quit complaining about these Executive bonuses. 57% of you people voted for this B.S. during the 2003 "bankruptcy" crisis. YOU voted for these concessions and now you cry and moan about how AA management is "cashing in". Instead of fighting,YOU chose to surrender! Did you really expect AA management to "share" the "sacrifice"?

To the NO voters, this post doesn't apply to you.
 
I wish people would quit complaining about these Executive bonuses. 57% of you people voted for this B.S. during the 2003 "bankruptcy" crisis. YOU voted for these concessions and now you cry and moan about how AA management is "cashing in". Instead of fighting,YOU chose to surrender! Did you really expect AA management to "share" the "sacrifice"?

To the NO voters, this post doesn't apply to you.

Damn, I couldn’t have said it better. I’m a no voter for 2003, so it doesn’t apply to ME. I was also a no voter for 2001, one of only 1100’ish. I will also be a no voter for next years contract.
 
Damn, I couldn’t have said it better. I’m a no voter for 2003, so it doesn’t apply to ME. I was also a no voter for 2001, one of only 1100’ish. I will also be a no voter for next years contract.
Agreed. One of the many reasons for which I voted against the RPA is because there were no safeguards against such shenanigans. Knowing the corporate culture at AA, I knew it would only be a matter of time before the execs and upper management started dipping their hands into the "shared" cookie jar. Whatever.

The following article from the Associated Press is not only relevant, it also illustrates very clearly who in Washington, DC is looking out for labor's best interests and who is not. Read on and draw your own conclusions:



WASHINGTON: The head of the House Financial Services Committee and 21 other Democrats on Thursday proposed legislation to give shareholders at public companies a formal say in executives' compensation packages.

The proposal by Rep. Barney Frank, a Massachusetts Democrat, gives political shape to an issue that has galvanized anger among investors and the general public: lavish compensation for executives, unrelated to their performance, even as companies stumble, lay off employees or renege on billions of dollars in pension obligations for workers' retirement.

The chasm between executives' salaries and the pay of rank-and-file employees continues to widen, and the issue promises to be a top priority at this spring's annual meetings of public companies.

"I do not understand those who argue that the people who make up our stock markets are collectively very wise, but at the same time are somehow incapable of rendering a coherent opinion of what they should pay those they employ to run the corporations that they own," Frank said in a statement.

No Republicans have endorsed Frank's bill. But with the Democrats now the controlling majority in the House after the November elections, he says he expects House passage as soon as April.

A month ago, President George W. Bush challenged corporate America on extravagant pay, saying that company managers and directors "must step up to their responsibilities." He said the government shouldn't get involved in the matter, however.

Frank's bill would give shareholders a chance to cast a nonbinding confidence or no-confidence vote on executive pay plans, allowing them either to ratify or disapprove of them.

Such shareholder votes are the practice in Britain, Australia and Sweden. Advocates say pay packages are rarely voted down, but the knowledge that they must be voted on has helped keep executive compensation in check overseas.

Investor advocates, union pension funds and shareholder groups have been pushing for such "say on pay" votes.

"At a time when executive compensation knows no bounds, it's not surprising that this idea has a head of steam behind it," Amy Borrus, deputy director of the Council of Institutional Investors, said Thursday. "Shareholders are fed up with over-the-top pay packages at underperforming companies."

posted by Art Tang
IMA
 
I wish people would quit complaining about these Executive bonuses. 57% of you people voted for this B.S. during the 2003 "bankruptcy" crisis. YOU voted for these concessions and now you cry and moan about how AA management is "cashing in". Instead of fighting,YOU chose to surrender! Did you really expect AA management to "share" the "sacrifice"?

To the NO voters, this post doesn't apply to you.
What about the 3000 plus maintenance crew chiefs that got no (as in did not get to!) vote?? And what about the full revote Mr Little promised us all. In almost 22 years with Eh Eh I have voted no everytime and probably will have to do so till I retire unless we get a real union on the property!!
 
What about the 3000 plus maintenance crew chiefs that got no (as in did not get to!) vote?? And what about the full revote Mr Little promised us all. In almost 22 years with Eh Eh I have voted no everytime and probably will have to do so till I retire unless we get a real union on the property!!

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jetmechjer,
Thanx for that info about the "3000".

Was that number spread out all over the system ?
Did the number reflect just certain area's(to a large extent) ??

Thanx in advance !

NH/BB's
 
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jetmechjer,
Thanx for that info about the "3000".

Was that number spread out all over the system ?
Did the number reflect just certain area's(to a large extent) ??

Thanx in advance !

NH/BB's
It wasn't just crew chiefs that couldn't get through to vote. There were several amt's in Tulsa that couldn't get their pin # to work. The greivance office had a line of mechanics raising hell because of problems with casting a vote but 4 years is a long time to beat a dead horse isnt it?
 
I wish people would quit complaining about these Executive bonuses. 57% of you people voted for this B.S. during the 2003 "bankruptcy" crisis. YOU voted for these concessions and now you cry and moan about how AA management is "cashing in". Instead of fighting,YOU chose to surrender! Did you really expect AA management to "share" the "sacrifice"?

To the NO voters, this post doesn't apply to you.


I agree with you. The people that were running around scaring the HELL out of everybody about bankruptcy are nothing more than twu minions and cowards that didn't stop and think that if we went into BR that alot of management would loose their jobs also. On the other hand the 874 greedy bastards did along with Jimmy do Nothing. So this was nothing more than self preservation on there part along with premeditated greed. The bottom line is that we were screwed by the company and the twu because we did not have all of the info to make an informed decision,but I guess we should be happy that we get $200 a year in an AIP bonus. $200 a year verses millions is fair isn't it you company loving twu flunkies. The BONEUSES that just went out should be enough to make anybody at the very least question what the twu our the company tells you. I also know of a couple of people that got there pin #s to late to vote. If I know of two I'm sure there are many more. This is another one of the ways that Jimmy can play word games and say that everybody had a chance to vote. I'm sure I will here from some of the twu ---- guzzelers.
 
The notion that a lot of management folk would lose their jobs certainly hasn't been the case at UAL, NWA, or DAL. In each of those cases, there have been absolutely no management losses aside from the people directly associated with the outsourcing of overhaul. Even there, all the VP's kept their jobs.

The only way management seems to lose their job these days is if the company liquidates. And then, everyone is pretty much screwed...

It will be interesting to see where this goes, but even if passed, it's not going to change the gap between executive compensation and front line workers. The best anyone can hope for is that it will simply freeze it at todays rates.
 
I can(almost) predict(with a fair amount of certainty) what will happen in the upcoming contract negotiations.

Arpey, and Little KNOW, that even with the large amount of TWU "sword swallowers" in TUL, that they WON'T chance "going to the well" a second time(ELECTION FRAUD), so I'm predicting that monetarily AA will put a good chunk of the hourly wage, back on the table.

Ahh, but at what cost.
AA will demand that the new language be re-written to pay for getting your "lost" money back(like twu station staffing levels, for instance)

There is NO WAY in HEL*, that AA will put the $$ money back, and keep the same amount of workers(that are working now), with a full benefits package !

Excuse me, I meant to say, "a ALMOST full benefits package"
(My bad)!

NH/BB's

ps,
I keep leaving "this" addendum (out) to my posts, when it comes to TUL, so here goes......."For you guys/gals in TUL, who have contined to resist the useless TWU, by voting NO, and "work to rule", even with a Stupervisor watching your every move, I just want you to know, that I know "you're out there"(albeit in miniscule numbers).
So when I BASHING the TUL wimps, my hatred for them, is NOT Aimed at you !!!!!!!