United CEO Tilton gets $9.65 mln pay package

FA Mikey

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I guess that''s the going rate for the guy who can convince thousands of loyal employee''s that the company cannot survive paying them their full salary.

NEW YORK, March 28 (Reuters) - Glenn Tilton, who is trying to lead United Airlines Inc. out of bankruptcy, last year received a pay package worth as much as $9.65 million, a securities filing shows.

The chairman and chief executive of the No. 2 U.S. carrier, who was named to those positions last September, received a $312,314 salary and a $3 million bonus for 2002, according to the annual report filed Friday with the U.S. Securities and Exchange Commission by UAL Corp.
 

Dea Certe

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Aug 20, 2002
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I don''t understand how companies that are on the edge of BK can justify paying these kinds of bonuses to the guys at the helm.

And then they sit back in shock when the employees kick up about having to give up huge chunks of their pay!

It''s an outrage!
 

spacewaitress

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Aug 27, 2002
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On 3/28/2003 9:27:49 PM FA Mikey wrote:

I guess that''s the going rate for the guy who can convince thousands of loyal employee''s that the company cannot survive paying them their full salary.

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Don''t you work for AA? What''s the going rate over there for ''the guy'' who convinced you to willingly give about 100 million more than we MAY BE FORCED TO GIVE UP BY THE COURTS (flight attendants, that is).

So far, we are only ''willing'' to give up 167 million - although I happen to believe that in the end it will be closer to the 356 million the company is demanding (and the judge would no doubt grant anyway).
 

sastal

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Sep 2, 2002
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Hey Mikey,

Don''t forget to add to Tilton''s salary what UAL pays every month for his extended stay at the Four Seasons suite in Chicago (if you need figures, I will be happy to provide them). You know, San Fran is his primary residence.

Cheers,
 
OP
F

FA Mikey

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At AA, We are paying for country club memberships for SR Exec''s. God forbid they have to pay there own way. I like John McCains outrage about Mullin''s pay and bonus''s. As though Our congress is any better let minimum wage remain below the poverty line, While exercising for themselves every kind and type of perk imaginable.
 

DCT JVL

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On 3/29/2003 8:57:08 PM sastal wrote:

Hey Mikey,


Don''t forget to add to Tilton''s salary what UAL pays every month for his extended stay at the Four Seasons suite in Chicago (if you need figures, I will be happy to provide them). You know, San Fran is his primary residence.


Cheers,



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Inquiring minds want to know. Show us the numbers!
 

Nevada

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Mar 30, 2003
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This information, once again, is such a slap in the face to the thousands of loyal but insecure UA employees who have recently been asked to give up from a week to 45 days Authorized No Pay. We haven''t heard of Tilton or any of the VPs doing the same thing. They''re considered UA''s "brain trust" ... we employees must be the "grunt trust."
 

spacewaitress

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Aug 27, 2002
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On 3/30/2003 12:50:22 AM DCT JVL wrote:

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On 3/29/2003 8:57:08 PM sastal wrote:

Hey Mikey,


Don't forget to add to Tilton's salary what UAL pays every month for his extended stay at the Four Seasons suite in Chicago (if you need figures, I will be happy to provide them). You know, San Fran is his primary residence.


Cheers,



----------------​

Inquiring minds want to know. Show us the numbers!


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The San Francisco Chronicle reported the Four Seasons suite costing $18,000/month. I don't know if that figure includes the 2 chaufered limousines - 1 for him, 1 for his wife.

In my next life I'm going to be a CEO...or a CEOs wife or husband, as the case may be.
 

motnot

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Aug 20, 2002
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I''m no fan of overpaid CEOs -- I think what Mullin and Bethune got is very excessive (and the DAL execs'' pension deal indefensible) -- but Tilton''s compensation does not fall into the same case.

The stock and options he got are worthless, and the $3 million bonus was a signing bonus to come to the company in the first place.
 

ual747mech

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Nov 26, 2002
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Ok! enough bashing Glenn and each other. It''s time for everyone to pull together and get over this mess were in.

ChicagoBusiness.com

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UAL CEO volunteers own pay cut



April 05, 2003

Glenn F. Tilton volunteered to take a 14% pay cut this year, on top of an 11% reduction last year, as the CEO of United Airlines attempts to land union wage reductions and a multibillion-dollar airline relief package in Washington, D.C.

Hired last September at $950,000 a year plus other benefits and incentives, Mr. Tilton''s new salary after two rounds of cuts will be $712,500.

Meanwhile, the Assn. of Flight Attendants union was expected to announce a tentative agreement on pay, benefits and work rules as the Elk Grove Township-based carrier prepares for an April 14 Bankruptcy Court hearing to impose new terms on its unions by May 1.
 

spacewaitress

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Aug 27, 2002
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Don''t think for a minute that this was in any way a noble gesture.

They (all the airline CEOs) have to show the administration and congress that the gov''t aid isn''t subsidizing their pay packages.

Besides, the give back was salary only, which makes Tilton''s ''sacrifice'' about 2.5%. Big whoop.

What a noble effort. It''s all spin for the public''s consumption.