Article: Doogie Cashes Out

[EyeInTheSky]

http://csr.elliott.org/us_airways/doogie_cashes_out.php

Doogie cashes out

August 8, 2006
There's nothing wrong with rewarding a chief executive for a job well done. But news that US Airways' CEO Doug Parker sold 270,000 shares of company stock for a total of $9 million -- a move criticized yesterday by the carrier's unions -- raises some important questions.

Parker (also called "Doogie" because of his youthful appearance) is already compensated to the tune of $631,963 a year. You'd assume an airline executive would be paid anything beyond that for performance, right?

By some measures, US Airways has done great. Post-merger, its stock price has soared from a low of around 6 to a high of 56. The company is profitable.

Certainly, Doogie deserves a pat on the back for that.

But performance is measured in more than dollars and cents, as I've pointed out in a previous posting.

Check out the latest Department of Transportation Air Travel Consumer Report, and you'll find out how US Airways is doing in the customer service department.

» Percent of flights arriving on time: 73 percent. (About average.)

» Mishandled baggage: 7.84 per thousand. Ranked 15th. (Slightly worse than average.)

» Involuntary denied-boardings: 1.55 per 10,000. Ranked 13th. (Worse than average.)

» Consumer complaints: 1.64 per 1,000 enplanements. Ranked 19th out of 20. (Much worse than average.)

Bottom line: When it comes to customer service, US Airways gets a solid C minus grade.

So did Doogie deserve the money? Ask yourself this question, kids: If you brought home a report card full of C-minuses, what would your parents have done?

 

[wings396]

"Bottom line: When it comes to customer service, US Airways gets a solid C minus grade."
Maybe it is time to share some of the wealth, and service will improve. It will be difficult to cry poverty to the unions when the company is finally making a profit. This is the same old stuff that the W&G years proved....
Shareholder Value is #1, especially when the top ranking officers of the Company hold mucho shares of stock. Screw the Employess, and we will laugh all the way to the Bank with our Millions.. :down:

 

[EyeInTheSky]

"Bottom line: When it comes to customer service, US Airways gets a solid C minus grade."
Maybe it is time to share some of the wealth, and service will improve. It will be difficult to cry poverty to the unions when the company is finally making a profit. This is the same old stuff that the W&G years proved....
Shareholder Value is #1, especially when the top ranking officers of the Company hold mucho shares of stock. Screw the Employess, and we will laugh all the way to the Bank with our Millions.. :down:

wings396,
If mechanics or pilots get a C-minus on exams/checkrides/etc they don't work. I am all for the grading system with management. So, far, my grade is a big fat F as in "flunkies." Doogie should donate the money to the "Wayward Airline Employee Fund" -- you know all those employees that lost their jobs, homes, marriages, savings, kids, to mismanagement.

Later,
Eye

 

[usflyguy]

we need to invest in those bag tags that have a gps chip in them......so we can see real time as your bag flys to hong kong!!!......do we fly there? oops sorry, but thanks for flying with the new usairways!!!!!! 😉