gonzo
Veteran
- Oct 17, 2005
- 902
- 0
Even though US Airways reported a 2005 third quarter
loss of $87 million, the company’s executives are reaping
huge rewards.
Former US Airways CEO Bruce Lakefield left the faltering
company with a reward of $1.3 million.
CEO Doug Parker, who already earns $550,000 annually
plus a bonus of between $440,000 and $880,000, received:
• 500,000 shares of America West stock at a purchase
price of $8.65. That stock, now converted to US Airways,
is worth $33.49 – a potential $12 million in profit.
• Appreciation rights for 196,000 shares for common stock
and 61,000 shares of restricted stock.
Parker also has a $2 million term life insurance policy and a
guaranteed severance package including 200 percent of his
base salary and other perks.
We can’t afford to reward mismanagement. It’s time to invest
in our future and the success of the airline.
US Airways:
Invest In What Works
TEAMSTERS LOCAL 104
At US Airways Management Wins
While Company Loses
loss of $87 million, the company’s executives are reaping
huge rewards.
Former US Airways CEO Bruce Lakefield left the faltering
company with a reward of $1.3 million.
CEO Doug Parker, who already earns $550,000 annually
plus a bonus of between $440,000 and $880,000, received:
• 500,000 shares of America West stock at a purchase
price of $8.65. That stock, now converted to US Airways,
is worth $33.49 – a potential $12 million in profit.
• Appreciation rights for 196,000 shares for common stock
and 61,000 shares of restricted stock.
Parker also has a $2 million term life insurance policy and a
guaranteed severance package including 200 percent of his
base salary and other perks.
We can’t afford to reward mismanagement. It’s time to invest
in our future and the success of the airline.
US Airways:
Invest In What Works
TEAMSTERS LOCAL 104
At US Airways Management Wins
While Company Loses