AA CEO gets 23% raise just as pilots start negotiations...

[ReverseSensing]

Dude have you been drinking?

Maybe, maybe not, but he always writes like that. He tries to be inscrutable; mainly, he's indecipherable.

 

[honeycomb]

honeycomb, of course it is Sunday night

Thanks I forgot. I could've had one to many too.

 

[AirBadger]

What a buncha crap. You know if this CEO really cared about AA he would refuse the pay bonuses. Someone who really cares about the company's survival wouldn't need massive pay bonuses just to stay on board. Ridiculous.

 

[Green]

There's more! (from the 10Q):

- Long-term incentive grants (effective July 24, 2006), comprised of:
- 77,500 stock-settled Stock Appreciation Rights
- 22,000 Deferred Shares
- 100,000 Performance Shares
- 58,000 career performance shares (pursuant to the terms of the
Career Performance Shares, Deferred Stock Award Agreement between the
Company and Mr. Arpey, dated as of July 25, 2005. The form of this
agreement is attached as Exhibit 10.6 to AMR's report on Form
10-Q for the quarterly period ended June 30, 2005.)

Wonder what all that's worth?

His salary is a drop in the bucket of his total compensation plan. At todays historically low share price of $22 his shares are worth roughly 5.7 million. Now considering the fact that we are coming out of a down cycle as an industry I would wager that those shares of his are going to be worth a heck of a lot more in the next five years. Although Arpey's compensation isn't quite as appalling as UAl's Glenn Tilton who financially raped his employees and was then awarded a compensation plan worth 40+ MILLION after just a few years of work.

We as airline pilots in this industry have been slapped over and over by management who in the very least have an utter lack of respect, and at the worst, contempt for pilots. IMHO it's time to fight back and regain those hard earned benefits that the previous generation fought for.

 

[Vastly Underemp]

Is no one else outraged that this figure just happened to be 23%? Talk about a shot across the bow at the opening of section 6. They might as well have just said don't expect anything, we're going to keep it all for ourselves. I guess the kinder, gentler management team means they are going to forewarn before screwing.