B19 Flyer
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The carrier had no reaction to the comments of union officials, but spokesman Bill Mellon said the company's two top officers have taken no salary increase since they assumed their posts in 2001.
What's more, he said Northwest's CEO made less than comparable executives at Delta Air Lines, Continental Airlines and Alaska Air. Northwest is the nation's fourth-largest carrier. Delta is third-largest and Continental is fifth. Northwest's revenue is nearly four times that of Alaska Air.
"Executive compensation at Northwest is consistently significantly lower than that paid at other major Minnesota companies," Mellon said.
Total compensation for Anderson, Northwest CEO, was $2,802,788 for the year ended Dec. 31. His compensation was up 126.3 percent from the previous year's total compensation of $1,238,305.
Anderson's package included other compensation of $111,638 and restricted stock awards of $1,941,150. During the year Anderson exercised no stock options and was given no new options.
Copyright 2003 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
It's amazing how unions want to have compensation that compares them against their counterparts, but when CEO pay is compared against their counterparts, it's wrong.
Classic double standard by unions.
When an airline CEO moves on to a different business, they don't take pay cuts, they simply just change businesses. That is their market value.
You just can't deal with it, so get over it.