CAL Execs Cash Out

[Truckdriver]

Continental CEO, president sell 50,000 shares each
Tue Apr 25, 2006 8:05 AM ET


CHICAGO, April 25 (Reuters) - Continental Airlines' (CAL.N: Quote, Profile, Research) chief executive and president each sold 50,000 company shares, government filings showed on Tuesday.
CEO Larry Kellner and President Jeff Smisek sold the shares on Monday at prices ranging from $25.83 to $26 per share. Stock in the fourth largest U.S. airline in terms of revenue gained 8.4 percent on Monday, recovering some of last week's losses.
Airline stocks been at the mercy of soaring oil prices in the last few days.
Continental shares were trading at $25.77 on the Inet electronic brokerage, down 0.6 percent from Monday's closing price.

That is around $1,250,000 each. I think we were talking about these guys last week and Hutchman was saying how great they were for not taking a bonus. They are a couple of good guys and I'm sure they deserve it. The two top guys at JBLU get NO stock options, a $200,000 salary, and both of them donate that salary to the JetBlue Crewmember Crisis Fund to help out employees. If your working for CAL, your working for a couple of greedy crooks who care very little for their employees. They sold that stock now so it won't come up shortly after they ask for concessions here in a couple of months.

 

[Ben Franklin]

Have you ever thought about starting your own newspaper?


Sincerely,

B. Franklin

 

[Palomino]

Truckdriver, do you work for CAL?

If not, then tell us about your boss's top-notch reputation as the head of your company.

 

[minrest]

$1,250,000 is the selling price. Back-out the purchase cost and that will tell you how much they earned.

 

[COpilot]

I cashed out all 700 shares that I had vested too (they must have been waiting for me). Sold at $26.50 last week.

 

[Truckdriver]

Have you ever thought about starting your own newspaper?


Sincerely,

B. Franklin

Actually, I have. Why do you ask??

 

[Truckdriver]

Truckdriver, do you work for CAL?

If not, then tell us about your boss's top-notch reputation as the head of your company.

Well, sort of. I work for XJT who has a puppet that takes commands from the baboons stealing money from the CAL and XJT employees.

 

[Truckdriver]

$1,250,000 is the selling price. Back-out the purchase cost and that will tell you how much they earned.

Yea, you are right. I can't find what the strike price is, but I'll bet that it is around $8 to $9. They probably gave themselves those bonus options in Oct 2004 or Sep 2005 when the price was way down. I'm sure they did something good during those months when the stock price was way down so they deserved them. They probably got those options as a bonus for getting $400 million in savings off the backs of the employees at CAL. Great guys!!!

 

[Truckdriver]

The only reason I'm bagging on these guys is because I'm very impressed by the guys running JBLU. You see those guys work for nothing, deny stock option bonuses when the board tries to give them to them, donate their salary to employees in need, and it keeps on going and going. Then you see the rest of the airline execs taking mulit-million dollar bonuses and salaries while their employees take HUGE pay cuts. It just doesn't add up to me. The guys running AMR, UAL, UAIR, and NWA are no different. I see a huge lack of integrity and trust in ALL airline execs except the JBLU guys. I don't see how people can look at Kellner or Arpey and say that feel that these guys have the best interest of the companies that they are running in their minds.

 

[Palomino]

my advice is to get your apps out in hopes of working for a 'moral' leadership team...

 

[Hutchman]

Kellner sold 50,000 shares. Kellner only owns 20,000 shares now.

Barger still owns over 530,000 shares after his 7+ million dollar year last year.

Barger has sold 112,000+ shares this year already.

Do some research. No one is worth what Barger is making off of JetBlue. When will investors start to care????

 

[BluDevAv8r]

my advice is to get your apps out in hopes of working for a 'moral' leadership team...

What is so immoral or unethical about the XJT leadership team? This isn't a trick question...just wondering what transgressions they have committed lately.

-Neal

 

[densoo]

You see those guys work for nothing, deny stock option bonuses when the board tries to give them to them, donate their salary to employees in need, and it keeps on going and going. Then you see the rest of the airline execs taking mulit-million dollar bonuses and salaries while their employees take HUGE pay cuts.

That's because JB is still in it infancy. The fully mature airline is a cash cow for the execs, end of story. They're not interested in running a airline. It is a corporation to skim off of just short of getting caught.