Anger Rising Over CEO Pay

BDLDFW

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Aug 21, 2002
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Apples and oranges? The increase was last year. Did employees (except other mgt) really take decreases last year? Surely some saw raises last year.

I thought the negotiated agreements are for the future, as is Carty''s 33% cut.
 
Some executives have taken pay cuts. But others have done well even as their companies suffer. Don Carty, CEO of American Airlines parent AMR Corp. (AMR: down $1.15 to $3.85, Research, Estimates), enjoyed a 38 percent increase in pay last year to $811,125. Employees of American took wage cuts this month that allowed the struggling carrier cost savings of more than $1.6 billion. Carty agreed to a pay cut this year.

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The airline threatens bankruptcy, and Carty takes a 38% pay increase.

Read the entire story: http://money.cnn.com/2003/04/21/news/proxy_season/index.htm

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