FUD at Flight Options

[realityman]

Aeroboy,

Thanks for the update. I honestly thought it was mainly the charter ops that were on the war path to get fracs further regulated. didn't realize the 91 operators also had a stake in it.

At any rate, it wasn't because of any safety issues.

 

[WabiSabi]

I don't get paid to post here. I do it because I believe somebody has to counter the usually unchallenged union rhetoric.

Well, BOB TYLER, with you selectively answering questions, spinning or putting words in the mouths of others to bolster your vacuous arguments, blindly beating the pro management drum, your delusional paranoia that unions are inherently evil....you need to get someone else. You're doing a pretty poor job of debating.....you sound more like a wacko televangelist.

 

[Hobbes]

Why does your only interest lie in FLOPS?? If you really worked for an airline as you claim... then why dont you have an interest in JetBlue and their current attempts to organize? The only forum you post in are fractional forums. Do you not care about the pilots at JB, shouldnt you be on a crusade to save them from the big bad union?? On another note you have no response for the moderators comments? Or is it simply that you cant defend yourself against him because he knows what you are and there is no defense?

Let me guess this post will not get a response because you are "across the pond". The only across the pond for you to cross is maybe Lake Erie, so lets let that lie die. Go hide beneath your desk some more SCAB.

ROFLMAO!!! How about b19? Why are you not so actively fighiting unionization in the 121 world? Go have a committee meeting with your FH buddies and see what spin you can put on that!

 

[dime line]

Do YOU understand?

Delta CEO to get $600,000, can earn $15M more



ATLANTA (AP) — Incoming Delta Air Lines (DAL) CEO Richard Anderson will be paid an annual salary of $600,000 and could earn another $15 million in performance-based incentives, according to documents filed Monday by the airline.
Anderson, 52, was named Gerald Grinstein's replacement as CEO last week and will take office on Saturday. With the appointment, Grinstein, 75, will retire from Delta and its board.
Aside from his annual salary, Anderson will become eligible on Saturday to earn $11 million in incentives tied to the company's performance, the filing said. That sum is "in recognition of the substantial compensation awards that he forfeited by leaving UnitedHealth Group (UNH)," where he served as an executive vice president, the filing said.
Some 55% of the sum would be paid in restricted stock, 25% in stock options and 20% in performance shares, the company said. Anderson will be eligible for an additional $4 million in performance-based awards next year, the filing said.
Both the payments would generally be vested over a three-year period.
FIND MORE STORIES IN: Atlanta | CEO | US Airways | Northwest Airlines | Delta Air Lines | Delta Airlines | Comair | Gerald Grinstein
The change at the top at Atlanta-based Delta follows the airline's 19½-month reorganization under bankruptcy protection.
Delta emerged from bankruptcy reorganization on April 30. In bankruptcy, Delta shed billions in costs and restructured the carrier's operations. It also survived a hostile takeover bid by Tempe, Ariz.-based US Airways (LCC).
Grinstein delayed his announced departure from Delta for months while directors conducted the search for a CEO that ended with Anderson's selection. Directors passed over at least two internal candidates in choosing Anderson, an industry veteran who once was CEO at Northwest Airlines (NWA).
Delta executives, faced with questions about a post-bankruptcy valuation below what they initially projected and below what US Airways offered for Delta, have declined to speculate about whether Delta would consider a deal with another carrier to increase shareholder value. Delta's board also has to decide whether to sell or spin off regional feeder carrier Comair. The airline has not provided a timetable for that decision.




I thought Delta was in the hurt locker?

 

[dime line]

I don't get paid to post here. I do it because I believe somebody has to counter the usually unchallenged union rhetoric.

Spirit Airlines CEO Ben Baldanza is in hot water this week for talking too much smack.
The story goes like this:
A couple by the name of James and Christine of Orlando wrote a letter to Spirit Airlines asking for compensation because they missed a concert in Atlanta after their Spirit flight was delayed by about three hours. The couple also cited poor customer service when they asked to be reimbursed not only for their $73.60 airfare, but also for their hotel, concert tickets and airport parking…for a grand total of a company crippling $376.84.
Then fellow blogger Alex Rudloffwrote about the story on his blog. That’s when the complaint started to pick up new momentum.
The couple took their complaint one step further by emailing Spirit CEO Ben Baldanza directly. But here’s the thing…they also copied several other Spirit employees on the complaint.That’s when the email challenged CEO hit “reply to all” in his response.
And his reply?
“We owe him nothing as far as I’m concerned. Let him tell the world how bad we are. He’s never flown us before anyway and will be back when we save him a penny.”



Kinda sounds like ideas of Flops management.

 

[dime line]

I don't get paid to post here. I do it because I believe somebody has to counter the usually unchallenged union rhetoric.

June 8, 2007

After 20 months of restructuring Northwest Airlines has come out of bankruptcy and began to trade on the NYSE in late May 2007. Northwest's CEO Doug Steenland exited the bankruptcy with a big pay package. On top of Steenland's salary, reported at $516,384 dollars last year, he will get a total compensation package of more than $26.6 million in stock. That's $5.8 million in stock options and $20.8 million worth of restricted stocks that will vest over the next four years. Northwest workers bore the brunt of the restructuring — after a $1.4 billion a year cut in labor expenses — pilots and flight attendant wages were cut by between 20 and 40 percent.
THE AIRLINE INDUSTRY

Northwest's fiscal distress isn't unusual in the post 9/11 airline industry. And indeed, neither cutting labor costs during restructuring nor rewarding CEOs for bringing businesses out of bankruptcy are uncommon strategies. When USAir emerged from bankruptcy in 2005, CEO Doug Parker was awarded an almost $6 million package — employees got pay cuts of up to 53 percent. USAir's pilots lost their pensions completely. But when Delta Air Lines emerged from Bankruptcy in April of this year, CEO Gerald Grinstein actually turned down 10 million dollars in stock awards and reduced his pay to $338,000. Delta employees had taken cuts in pay and benefits of up to 40 percent.
United Airlines employees have taken their discontent with the disparity between their pay and their CEO's to the company's shareholders — picketing the annual meeting in May 2007. The union leaders protested that while their workers were still being paid the lower wages agreed upon in bankruptcy, United Chairman and CEO Glenn Tilton had negotiated a new contact and even larger pay package reportedly worth $39.7 million. According to THE NIGHTLY BUSINESS REPORT, "during [its] three-year reorganization, the carrier slashed thousands of jobs, scrapped pensions and cut wages up to 50 percent for its hourly workers. The wage cuts United negotiated with its unions last another three years."



A June 2, 2007 interview with Northwest's Douglas Steenland from THE NEW YORK TIMES suggests some of the questions stockholders and workers have for high-paid CEOs:

Q. Given how angry workers across the airline industry are about chief executive pay packages, why did you take such a big one?​

A. The compensation process is not one I play a role in. The decisions were made by the Northwest board of directors, acting completely independently of management.​

Q. But you could have insisted on less, just as you took reduced pay during the bankruptcy, right? ​

A. If you look at things on a relative basis, in 2006 compared to the other network C.E.O.'s, I was fifth out of six. Among Fortune 500 C.E.O.'s, I'm in the lower 50 percent.​

Figures show that Steenland's salary is well within the norm.
SHAREHOLDER LEGISLATION

The year began with President George W. Bush voicing concern over executive compensation. In his annual State of the Economy given on Wall Street on January 31, 2007, the President warned company boards that they needed to "pay attention to the executive compensation packages that you approve" and tie pay to performance.
Legislation to give shareholders more oversight of executive pay packages was introduced into the House this session by Barney Frank. The bill, H.R. 1257, the "Shareholder Vote on Executive Compensation Act" is modeled on measures already in effect in the U.K. Although the bill wouldn't set pay limits, it would make sure that shareholders have a voice in approving company executive pay practices.
But the White House isn't in favor of this legislation, stating that it "does not believe that Congress should mandate the process by which executive compensation is approved." The White House and other critics say that workers and shareholders should give the Securities and Exchange Commission regulations that went into effect in January, 2007 to show results before turning to legislation. The SEC rules, passed in July 2006, require companies to show an executive's total compensation, including all stock options, retirement plans and other perks. Companies are also required to construct and submit a narrative justifying the pay package. But these new rules do not mandate shareholder participation.
CEO VS. WORKER PAY

It's not just airline industry workers who are concerned with executive pay — a 2006 Blooomberg/L.A. TIMES poll found that 81 percent of Americans thought executives were overpaid. The numbers might have mellowed some from the highs of the late 90s and 2000 — when the average CEO salary was 525 times that of an average worker in the same industry — but they are still high, and highest of all for American companies. (see chart) According to the Corporate Library, the median increase in CEO compensation for 2006 was 9.29 percent — more than double the rate of pay increase for white-collar workers.
New transparency rules like those put in place by the SEC, and public outcry may have had an effect already on some boards. When the CEO of Home Depot Bob Nardelli left the company among complaints of falling stock prices with a $210 million severance package, many expressed outrage. His successor will only get $8.9 million a year compared to Nardelli's $24 million.

Figures from the Institute for Policy Studies.
Figures for CEOs of 350 leading U.S. corporations.​

This is why a union was needed, and voted in at FLOPS, How did B19 say, "the company gets the union it deserves"​

 

[realityman]

dime line, excellent!!!

Can't wait to hear the spin on this one.

Go FLOPS pilots!!

 

[400pilot]

B19, you are really reaching with that response....

Answer these questions....

The fractional industry did not begin with it's current cost structure until February of 2005.

Specifically, what is the difference between the cost structure prior to 02/2005 and today?

If your answer is additional cost of being regulated, then my next question in response to...

Thus, any profits that were made did not take into account the additional cost of being regulated;

Specifically, what additional costs(line items and amounts) are being incurred now that were not being incurred prior to 02/2005?

Also, which regulatory changes have resulted in higher expenses to these companies?

I don't really expect you to respond because you have never responded to any of my posts.

 

[B19 Flyer]

June 8, 2007

After 20 months of restructuring Northwest Airlines has come out of bankruptcy and began to trade on the NYSE in late May 2007. Northwest's CEO Doug Steenland exited the bankruptcy with a big pay package. On top of Steenland's salary, reported at $516,384 dollars last year, he will get a total compensation package of more than $26.6 million in stock. That's $5.8 million in stock options and $20.8 million worth of restricted stocks that will vest over the next four years. Northwest workers bore the brunt of the restructuring — after a $1.4 billion a year cut in labor expenses — pilots and flight attendant wages were cut by between 20 and 40 percent.
THE AIRLINE INDUSTRY

Northwest's fiscal distress isn't unusual in the post 9/11 airline industry. And indeed, neither cutting labor costs during restructuring nor rewarding CEOs for bringing businesses out of bankruptcy are uncommon strategies. When USAir emerged from bankruptcy in 2005, CEO Doug Parker was awarded an almost $6 million package — employees got pay cuts of up to 53 percent. USAir's pilots lost their pensions completely. But when Delta Air Lines emerged from Bankruptcy in April of this year, CEO Gerald Grinstein actually turned down 10 million dollars in stock awards and reduced his pay to $338,000. Delta employees had taken cuts in pay and benefits of up to 40 percent.
United Airlines employees have taken their discontent with the disparity between their pay and their CEO's to the company's shareholders — picketing the annual meeting in May 2007. The union leaders protested that while their workers were still being paid the lower wages agreed upon in bankruptcy, United Chairman and CEO Glenn Tilton had negotiated a new contact and even larger pay package reportedly worth $39.7 million. According to THE NIGHTLY BUSINESS REPORT, "during [its] three-year reorganization, the carrier slashed thousands of jobs, scrapped pensions and cut wages up to 50 percent for its hourly workers. The wage cuts United negotiated with its unions last another three years."






A June 2, 2007 interview with Northwest's Douglas Steenland from THE NEW YORK TIMES suggests some of the questions stockholders and workers have for high-paid CEOs:

Q. Given how angry workers across the airline industry are about chief executive pay packages, why did you take such a big one?​

A. The compensation process is not one I play a role in. The decisions were made by the Northwest board of directors, acting completely independently of management.​

Q. But you could have insisted on less, just as you took reduced pay during the bankruptcy, right? ​

A. If you look at things on a relative basis, in 2006 compared to the other network C.E.O.'s, I was fifth out of six. Among Fortune 500 C.E.O.'s, I'm in the lower 50 percent.​

Figures show that Steenland's salary is well within the norm.
SHAREHOLDER LEGISLATION

The year began with President George W. Bush voicing concern over executive compensation. In his annual State of the Economy given on Wall Street on January 31, 2007, the President warned company boards that they needed to "pay attention to the executive compensation packages that you approve" and tie pay to performance.
Legislation to give shareholders more oversight of executive pay packages was introduced into the House this session by Barney Frank. The bill, H.R. 1257, the "Shareholder Vote on Executive Compensation Act" is modeled on measures already in effect in the U.K. Although the bill wouldn't set pay limits, it would make sure that shareholders have a voice in approving company executive pay practices.
But the White House isn't in favor of this legislation, stating that it "does not believe that Congress should mandate the process by which executive compensation is approved." The White House and other critics say that workers and shareholders should give the Securities and Exchange Commission regulations that went into effect in January, 2007 to show results before turning to legislation. The SEC rules, passed in July 2006, require companies to show an executive's total compensation, including all stock options, retirement plans and other perks. Companies are also required to construct and submit a narrative justifying the pay package. But these new rules do not mandate shareholder participation.
CEO VS. WORKER PAY

It's not just airline industry workers who are concerned with executive pay — a 2006 Blooomberg/L.A. TIMES poll found that 81 percent of Americans thought executives were overpaid. The numbers might have mellowed some from the highs of the late 90s and 2000 — when the average CEO salary was 525 times that of an average worker in the same industry — but they are still high, and highest of all for American companies. (see chart) According to the Corporate Library, the median increase in CEO compensation for 2006 was 9.29 percent — more than double the rate of pay increase for white-collar workers.
New transparency rules like those put in place by the SEC, and public outcry may have had an effect already on some boards. When the CEO of Home Depot Bob Nardelli left the company among complaints of falling stock prices with a $210 million severance package, many expressed outrage. His successor will only get $8.9 million a year compared to Nardelli's $24 million.

Figures from the Institute for Policy Studies.
Figures for CEOs of 350 leading U.S. corporations.​

This is why a union was needed, and voted in at FLOPS, How did B19 say, "the company gets the union it deserves"​

What do you consider a fair income for a CEO that works nearly around the clock who is responsible for 70,000 employees and a multi-billion dollar budget?

Now, remember (before you answer) that 777 captains working for the same airlines were making nearly 300,000 a year and needed the simulator to stay current.

So, who was in reality making more money, the 777 captain with the union contract that never had to fly revenue or the guy responsible for the whole enchilada working 7 days a week?

Tell me, what is a CEO worth?

 

[B19 Flyer]

ROFLMAO!!! How about b19? Why are you not so actively fighiting unionization in the 121 world? Go have a committee meeting with your FH buddies and see what spin you can put on that!

Because the fracs are where the conversation started and is the most fun.