Let's take AMR's CFO for instance...I would bet you a lot of money that he's just working there for fun at this point. He made his money when he left AMR for AT&T where he collected MILLIONS to sell the company to one of their spurned babies. Timing for him was great. AT&T (the new version) didn't need him so he came back to AMR because Brundage left for a lot of money elsewhere. Just because you choose to stay where you are in the profession you are in doesn't make everyone a bad person.
Correct in context, but Jeff Brundage is still very much at AMR. I think you meant James Beer, who left AMR for Symantec in February 2006 (he'd been CFO since 2003 after Jeff Campbell resigned to go to McKesson).
There truly are a few execs and many managers who stick around for love of the game, and not for the money. I firmly believe Arpey is one -- he could double or triple his net worth by going just about anywhere right now. Likewise with Richardi and Brundage. Ralph could have retired five years ago and been perfectly content, but all three of them stick around because they're airline junkies.
I guess the reason is that if they threaten to leave, AMR simply pays them what they ask.
I hear that a lot from y'all, but from firsthand knowledge, managers and VP's at AMR don't have that type of lattitude except in very rare cases. I've never actually seen it done, although I suspect it's kept fairly quiet when it is.
When I told my VP about getting a outside job offer, I had no expectation for AMR to even try match my new salary, but even if they had, I'd already made my decision that I'd had enough, and had all my i's dotted and t's crossed before I even let on to the fact that I was leaving.
I suspect that is probably the case with most managers and above -- once they make up their minds to consider other offers, they're leaving regardless.
Having retention programs does help keep managers from looking for outside opportunities, but it won't stop the headhunters from calling and tempting them, which is what happened with me.