Tilton And Crew Take Bonuses

[goingboeing]

Forbes.com has a reference to this topic and it can be linked from yahoo ailine news.

I wonder how the UAL employees feel about management still TAKING from the Company and DEMANDING THE EMPLOYEES TO GIVE?

This is what is WRONG with airline management and they can't figure out why they have very little loyality from their employees.

 

[gatemech]

I read the article. I don't care if he makes less than other airline CEO's. I make less than other airline mechanics!!!

Here is the link.
http://www.forbes.com/facesinthenews/2005/...facescan02.html

At the bottom click more for another article.

Hope the link works

 

[Bigsky]

Faces In The News
Tilton: United Airlines Chief Gets Bonus As Employees Face Cuts
Chris Noon, 03.17.05, 8:43 AM ET

NEW YORK - Doers and doings in business, entertainment and technology:

Glenn Tilton
--------------------------------------------------------------------------------
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Combat pay? Despite a turbulent year for United Airlines, UAL (otc: UALAQ - news - people ) Chief Executive Glenn Tilton pocketed a bonus of about $366,000 from an incentive program last year and made $1.1 million overall. The bonus likely won't go down well with the rank and file: The world's second largest airline is seeking financing to emerge from Chapter 11 bankruptcy, and is moving to cut employees' pay and benefits. A United spokeswoman had a sharp rejoinder ready at hand for anyone suggesting Tilton was lining his pockets: "When you consider total compensation, we believe he is below almost every other peer,â€￾ she noted huffily to the Associated Press. Tilton's haul was apparently an iota of the $92.5 million in incentive pay UAL meted out in 2004-- 97% of it went to employees below the vice-president level. While UAL contends Tilton is a minnow among airline CEOs in terms of salary, a $4.5 million trust was set up for him when he joined in 2002, as compensation for retirement benefits he forfeited by leaving ChevronTexaco (nyse: CVX - news - people ). Tilton's confreres are also under the spotlight-- Doug Hacker, the executive vice president for strategy, Chief Financial Officer Frederic "Jake" Brace and Chief Operating Officer Peter McDonald made about $501,000 combined in bonus pay in 2004. Brace and McDonald also enjoyed pay increases of 11% and 19% respectively

 

[North by Northwest]

OINK OINK! Slop the pigs! A United spokeswoman had a sharp rejoinder ready at hand for anyone suggesting Tilton was lining his pockets: "When you consider total compensation, we believe he is below almost every other peer,â€￾ Hey Sherlock Shirley...guess it doesn't matter that the employees are" below almost every other peer"What a disgrace!

 

[coolflyingfool]

We need you to give up more so I can make more. I hate when CEO's think they are so much better than the regular work force. How do they think they are so much better than the masses? There should be some sort of legislation to prevent this stuff from happening. When your lower end employees take a paycut, so do the guys at the top. Just my thoughts...........

 

[North by Northwest]

"There should be some sort of legislation to prevent this stuff from happening. When your lower end employees take a paycut, so do the guys at the top." The pigs in Washington are WORSE!

 

[Eagle]

Think about it. He was not here to cause the problem and gave up a pretty good position to come. Also remember there was not a large line-up of qualified people willing to take on this sinking ship. I believe his bonus is based on the same success factors as the rest of us only a greater percentage of his is "at risk" hence the larger amount.

"Pay at Risk" is something the union groups did not want in their CBA. Also note that he like most in SAM were and are not at general business market rate let alone "Industury leading rates" as were the union contracts in the not to distant past. In case you are not aware we continue to lose a lot of very qualified people because the same non-union job outside the company pays more with a lot less risk.

None of us like nor can many of us afford the pay cuts. It hurts but it is not the company's fault if in some segments there are others outside United that will do simular work for less cost. Thanks to this internet, pricing is now transparent to the general public. In today's environment we can not command the premium we were able to at one time. Like you and me looking to fill our car gas tank, the flying public is shopping for the best price for what they believe is the same product. We have to get our costs inline with our competitors. I think almost all CEOs are overpaid, but for his job class he is not anywhere near the top.

 

[C54Capt]

Tilton is one of the best "turn-around artists" in the business and deserves much more than he received in terms of compensation. We may not agree with his methods, but UAL is still here to the chagrin of many.

 

[goingboeing]

Tilton is one of the best "turn-around artists" in the business and deserves much more than he received in terms of compensation. We may not agree with his methods, but UAL is still here to the chagrin of many.

[post="256811"][/post]​

Yeah,reward Tilton for keeping UAL in chapter 11 for 3 years.

 

[whatkindoffreshhell]

Read in Thursday's WSJ that Tilton's filthy bonus was based in part on

"customer's intent to re-purchase"

AMAZING!!!!!!

See what happens when lawyers get involved....

 

[herkav8r]

I think Tilton is wqorth his bonus. If nothing else for t he fact that we lost 1 Billion less in 04 than 03. Also, this story is worth every penny of his bonus:United Ends Special Pension Program for Retired Senior Execs

United Airlines has terminated a special pension program for its senior executives, according to a filing with the Securities and Exchange Commission. The supplemental executive retirement plan, which was ended March 11, was used to boost the retirement incomes of senior managers whose pension benefits exceeded Internal Revenue Service limits. "This is consistent with what we have said all along that we have to terminate all our pension plans," said Jean Medina, a spokeswoman for the airline. Medina said United hasn't broken out the cost of the program from its other pension plans. "We believe we have a responsibility to limit costs wherever possible," she added.

 

[flythewing]

Tilton is one of the best "turn-around artists" in the business and deserves much more than he received in terms of compensation.

[post="256811"][/post]​

PLEASE, direct me to any factually based discussion of this.

 

[Winglet]

Doesn't look to me like UAL is turning. Looks like it's still in nosedive and headed for the dirt. $57 oil is just going to make it faster.

 

[herkav8r]

Every other airline is in the same boat with oil except SouthWest. Sooner or later fares will go up. I think United is in better shape than Delta.

 

[kcabpilot]

United Airlines has terminated a special pension program for its senior executives, according to a filing with the Securities and Exchange Commission. The supplemental executive retirement plan, which was ended March 11, was used to boost the retirement incomes of senior managers whose pension benefits exceeded Internal Revenue Service limits. "This is consistent with what we have said all along that we have to terminate all our pension plans," said Jean Medina, a spokeswoman for the airline. Medina said United hasn't broken out the cost of the program from its other pension plans. "We believe we have a responsibility to limit costs wherever possible," she added.

[post="256907"][/post]​

Right, hey I'm willing to give up my special, supplemental retirement plan too. How does this equate with termination of "all our pension plans", as Ms Medina puts it?

Tilton takes a 15% paycut then gets a 60% bonus. The FA's are right in demanding that those funds be returned to this beleaguered company. What a crock 'o shist