Arpey's "parachute."

[waveflyer]

Which party Hal, would fight tooth and nail to keep that sort of regulation from happening?
Check who founded the investment firm Arpey just joined on with?
The gold ole boy network is alive and well in all corporate America.
Rewarding failure is alive and well-
The system isn't set up to reward long term sustainable, stable success. It's set up to reward short term success- the ability to attain money w/ short term profits, extract it quickly in manipulating stock prices and short term profit bonuses, (before any union can work through the rla to get their fair share of what's been earned) is the easiest way to set you and your family up FOR LIFE vs EARNING money over the long run by leading stable profitable companies- and that's the problem.

I understand your concerns- there are situations I'd be uncomfortable limiting compensation as well- but when it comes to publicly traded companies- where a small group decides how much to pay themselves out of profits WE EARN- I believe we ought to have a strong voice in that-

No, I'm reporting facts. I'm not sticking up for bonuses after concessions, either. Don Carty lost his job for that, not Arpey. I am sticking up for the profit motive. It ain't charity. Like Gary Kelly, there's incentive pay. That's how Arpey was paid. Labor doesn't need to have a say in that, but stockholders should.

I'm also not in favor of recycling failure. Airlines are notorious for this. I believe that if you've presided over the bankruptcy of a publicly-traded company, listed on a domestic stock exchange, you should not be allowed to hold a similar position with another public company. This should include CEOs, CFOs, COOs and Directors/Officers of the BOD. I've heard time and again that they get recycled because they're the only ones or the best ones available. I don't buy that.

How do you expect a CEO or members of the board be compensated? Salary only? Hourly? Plus incentives? Stock? Steve Jobs' salary was $1/yr, but he was worth over $6B at his death. I'm uncomfortable with an arbitrary maximum pay not set by market standards.

I'm sure if AMR was really successful that no one would mind what he's paid.

 

[shon7]

I'm sure if AMR was really successful that no one would mind what he's paid.

The business channels are reporting that looking back Arpeys biggest mistake could be not declaring Chap 11 much earlier. Sadly, other CEOs will take this as a lesson.

 

[BoilerUP]

http://www.nytimes.com/2011/12/01/o...a-departing-ceos-moral-stand.html?_r=4&src=tp

IT seems that every week we hear of a C.E.O. who earned millions from a golden parachute after demonstrating poor business judgment or cutting thousands of jobs with no financial downside for executives. These stories feed the fires of the Occupy movement growing all over the world.


But on Tuesday, we heard something different. American Airlines, once the largest airline in the United States, declared bankruptcy. This is not surprising news for the beleaguered airline industry; what is different is what is emerging from the wreckage. Gerard J. Arpey, American’s chief executive officer and chairman, resigned and stepped away with no severance package and nearly worthless stock holdings. He split with his employer of 30 years out of a belief that bankruptcy was morally wrong, and that he could not, in good conscience, lead an organization that followed this familiar path.

 

[NuGuy]

And I think if I were a millionaire I could hook that up, too; 'cause chicks dig dudes with money.

Not all chicks...

 

[zonejumper]

Not all chicks...

True, true. If someone thinks "chicks dig dudes with money," perhaps they're hanging out with the wrong chicks! :smash:

 

[NuGuy]

True, true. If someone thinks "chicks dig dudes with money," perhaps they're hanging out with the wrong chicks! :smash:

Sigh...so much for keeping the "quote the movie" thread going....

 

[ackattacker]

Not all chicks...

Well, the kind of chicks that'd double up on dude like me do.

 

[waveflyer]

Good point

 

[Little_Bill]

It's like Tony M. said

You gotta make the money first. Then when you get the money, you get the power. Then when you get the power, then you get the women.

 

[GuinessGuy]

This thread started going in a great direction thanks to"LearLove", brought back on track by "Ackattacker"..........then ruined by the ignorant mob......