US Airways CEO's pay package rises to $2.8 million

[usa1]

The head of U.S. Airways Group Inc. saw his compensation rise 7 percent to $2.8 million last year, according to an Associated Press calculation from the company's proxy statement, as it logged its first profitable year since 2007.

http://finance.yahoo.com/news/US-Airways-CEOs-pay-package-apf-1493746918.html?x=0&.v=4

 

[john john]

http://finance.yahoo.com/news/US-Airways-CEOs-pay-package-apf-1493746918.html?x=0&.v=4

He got nothing under a long-term incentive plan because U.S. Airways shares did not perform better than the shares of other airlines from 2008 through 2010.
Options awards valued at $1.1 million were down from 2009, but incentive pay of $987,800 was more than double the $429,000 he got for 2009. The stock options will only have value if the company's shares increase in value, and they must vest over the next three years.

"incentive pay"
give me some of that

 

[SparrowHawk]

"incentive pay"
give me some of that

I've long advocated that in a labor intensive industry like commercial aviation as an example that ALL employees have their pay tied in some way to performance. For Organized Labor however incentive pay is a huge no no and that's a whole different discussion.

One of the benefits of having about 20% of pay based on incentives is if you hit a rough patch economically you have the ability to "Cut" labor cost by 20% with laying off so much as a janitor. Conversely when the company is raking in the profit dollars the workers share directly in that result as they in effect over achieve. If the company is hitting it's performance and profit targets then everything is cool

 

[john john]

I've long advocated that in a labor intensive industry like commercial aviation as an example that ALL employees have their pay tied in some way to performance. For Organized Labor however incentive pay is a huge no no and that's a whole different discussion.

What is USAirways BOD definition of incentive pay?
And how why does one earn it?

 

[SparrowHawk]

What is USAirways BOD definition of incentive pay?
And how why does one earn it?

This is pretty much the way it works at any company.

The BOB establishes certain performance goals. Like say 80% or better on time performance. If the target is met then those executives under contract receive their bonus based on a set formula and their can be multiple incentives. That's one of the reasons DP's actual salary isn't all that big compared to total compensation.

If you want to get an idea how incentive pay works for the average Joe & Jolene check out NuCor Steel NuCor

 

[Crzipilot]

Trust me, you don't want to know the metrics to his "incentive" pay. It's been covered on here before, and well it's on file I think in a 10k or one of those numbered sec filings somewhere. 60% is based on financials....well he came come in 8th place and still get a 50% bonus for doing nothing. come in first....get a 200% bonus I think....


For those 50.00 dougy bucks your pushed for each month.......he takes about 500,000 for the year or more if you hit the numbers....

 

[Crzipilot]

this place is centuries behind nucor..... In it's management style

 

[SparrowHawk]

this place is centuries behind nucor..... In it's management style

Which was my point exactly. Thank You Very Much

 

[UPNAWAY]

If you compare his compensation to the other Airline CEOs it is well under theirs, in fact without doing any of the math I am sure he makes less as a % then any of our wages are less as a % of OAL folks.

 

[SparrowHawk]

If you compare his compensation to the other Airline CEOs it is well under theirs, in fact without doing any of the math I am sure he makes less as a % then any of our wages are less as a % of OAL folks.

Well then he's paid what he's worth! Free market and all of that.

He's paid less because he delivers less. Game, Set, Match!

I knew sooner or later you'd see it my way.

 

[LD3]

The BOB establishes certain performance goals. Like say 80% or better on time performance. If the target is met then those executives under contract receive their bonus based on a set formula and their can be multiple incentives.

And the majority of the people that help meet on time performance didn't even get profit sharing....

 

[SparrowHawk]

And the majority of the people that help meet on time performance didn't even get profit sharing....

Quite sad isn't it? However some of the blame lies within your union. Unions (In General) do not like pay tied to performance. You'd have to ask them why as I do not know. Ford is one of the few that I'm aware of and I'm not even certain if they have it any longer.

Maybe 700UW can shed some light???

 

[redheadtempe33]

And the majority of the people that help meet on time performance didn't even get profit sharing....

?
Only the mechanics do not get profit sharing and their union negotiated that away in exchange for other things.
Why do people put up these blatant lies?
We can all blame and #### US Airways for many things, but this is not one of them.

 

[Crzipilot]

I like how his letter on compensation says he took a pay cut or some BS like that, or made it sound as such. Meanwhile, another outside source showed that his total compensation was about a 7% increase....

 

[LD3]

?
Only the mechanics do not get profit sharing and their union negotiated that away in exchange for other things.
Why do people put up these blatant lies?
We can all blame and #### US Airways for many things, but this is not one of them.

What lie? I simply stated that not everyone shared in the profits, whether it was nogotiated or not.....As for mechanics only, any fleet service agents get a check? Even though both are IAM don't dismiss Fleet..