Should Have Been A Ceo!

Nightwatch

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Jun 8, 2004
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Posted on Fri, Nov. 05, 2004





Northwest execs get stock boost

Associated Press


MINNEAPOLIS - The top five executives at Northwest Airlines Corp. have been awarded $3.7 million in stock.

Among them was Northwest's new CEO and president, Doug Steenland, who received 150,000 shares of restricted stock, with an estimated value of $1.4 million based on Monday's closing share price of $9.22.

The stock awards were disclosed in a filing this week with the Securities and Exchange Commission. They came ahead of Friday's approval by Northwest pilots of a two-year contract that will reduce their pay by 15 percent and save the company $265 million a year.

Northwest executives who were awarded the restricted stock recently got salary increases to reflect new responsibilities. But the raises will be short lived, as implementation of the pilots' contract will trigger substantial pay cuts for executives as well.

The executive salary reductions will be taken off higher base salaries that recently went into effect.

Northwest spokesman Bill Mellon said pilots union leaders were briefed on the pay increases and stock grants for senior executives before pilots started voting on the new contract.

The five executives who received the stock can't immediately convert it to cash. In recent years, Northwest's board has been awarding restricted stock that vests over multiple years.

"The restricted stock grant program is designed to focus our senior management on the long-term success of Northwest Airlines and to align the executives' interests with those of the company's shareowners," Mellon said.

Northwest has lost more than $2 billion on its operations since early 2001. The company is attempting to cut its labor costs by $950 million a year.

Competitors such as American Airlines, US Airways and United Airlines already have reduced labor costs.

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On the Net: Northwest Airlines: http://www.nwa.com

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Information from: Star Tribune, http:// WWW.STARTRIBUNE.COM



I'm sure AMFA won't puit up with this! Or will they?
 
Nightwatch said:
Posted on Fri, Nov. 05, 2004



Northwest execs get stock boost

Associated Press
MINNEAPOLIS - The top five executives at Northwest Airlines Corp. have been awarded $3.7 million in stock.

Among them was Northwest's new CEO and president, Doug Steenland, who received 150,000 shares of restricted stock, with an estimated value of $1.4 million based on Monday's closing share price of $9.22.

The stock awards were disclosed in a filing this week with the Securities and Exchange Commission. They came ahead of Friday's approval by Northwest pilots of a two-year contract that will reduce their pay by 15 percent and save the company $265 million a year.

Northwest executives who were awarded the restricted stock recently got salary increases to reflect new responsibilities. But the raises will be short lived, as implementation of the pilots' contract will trigger substantial pay cuts for executives as well.

The executive salary reductions will be taken off higher base salaries that recently went into effect.

Northwest spokesman Bill Mellon said pilots union leaders were briefed on the pay increases and stock grants for senior executives before pilots started voting on the new contract.

The five executives who received the stock can't immediately convert it to cash. In recent years, Northwest's board has been awarding restricted stock that vests over multiple years.

"The restricted stock grant program is designed to focus our senior management on the long-term success of Northwest Airlines and to align the executives' interests with those of the company's shareowners," Mellon said.

Northwest has lost more than $2 billion on its operations since early 2001. The company is attempting to cut its labor costs by $950 million a year.

Competitors such as American Airlines, US Airways and United Airlines already have reduced labor costs.

---

On the Net: Northwest Airlines: http://www.nwa.com

---

Information from: Star Tribune, http:// WWW.STARTRIBUNE.COM

I'm sure AMFA won't puit up with this! Or will they?
[post="198830"][/post]​


Well AMFA has not given away 25% of their pay have they?
 
  • Thread Starter
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  • #3
Bob Owens said:
Well AMFA has not given away 25% of their pay have they?
[post="198841"][/post]​


We'll see who gives up what shortly. I believe UAL/AMFA has a challenge before them.
 
Nightwatch said:
We'll see who gives up what shortly. I believe UAL/AMFA has a challenge before them.
[post="198842"][/post]​

Why is the challenge before us?
You lackies rolled over time and time again and pronounced your 'unionism' and how you 'saved jobs'!!!

Why should we sacrafice because you AFL/CIO [deleted] do not have the tenacity?

But you freely point out that 'other unions' don't have the nads to make a stand!!!

DELETED

[deleted by moderator]
 
Do I sound angry?

Damn right I'm angry!!!

But what am I angry about?

:rant: UT
 
  • Thread Starter
  • Thread starter
  • #6
I'd say you're a bit upset over AMFA bending/leaning towards concessions. No one is asking you to eat crow, at least not just yet.
 
Nightwatch said:
I'd say you're a bit upset over AMFA bending/leaning towards concessions. No one is asking you to eat crow, at least not just yet.
[post="198856"][/post]​


Beep...........

Wrong answer!!!!

Crow? How can your even have the balls to say that?
[deleted by moderator] every concessionary contract in your career from carrier to carrier.

It must be an IAM thing...

UT
 
  • Thread Starter
  • Thread starter
  • #8
I do understand your inner feelings of being stepped upon by AMFA. We attempted to save you embarrassment but to no avail. Now go and enjoy the BK judge's decisions.
 
We'll see who gives up what shortly. I believe UAL/AMFA has a challenge before them.

nw, you and the twu do not know what a challenge is. AMFA has risen to the challenge of greedy NWA management with picketing the White House, they faced a PEB, they organized rallys against FAR 145. AMFA fights because the members want them to fight. The twu on the other hand accepts concessions without the membership voting on them. The twu has supporters who are afraid of identifying themselves. You remain an ignorant, scared individual. Just like the twu likes their members.
 

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