sweet

[9rj9]

Sweet, DAL pay increase

For the CEO
Cut pilot pay, send directly to next rich guy.

Delta CEO to Earn Up to $15 Million
Monday August 27, 5:33 pm ET New Delta CEO Can Earn Up to $15 Million in Incentives

ATLANTA (AP) -- Delta Air Lines Inc.'s incoming chief executive 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," where he served as an executive vice president, the filing said.
Some 55 percent of the sum would be paid in restricted stock, 25 percent in stock options and 20 percent in performance shares, the company said.
Anderson will also be eligible for another $4 million in performance-based awards next year, the filing said.
Both the payments would generally be vested over a three-year period.

The change at the top at Atlanta-based Delta follows the airline's 19 1/2-month reorganization under bankruptcy protection.
Delta entered Chapter 11 on Sept. 14, 2005. The company emerged from bankruptcy 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 Group Inc.
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 the airline would consider a deal with another carrier to increase shareholder value. Besides finding a new CEO, Delta's board also has to decide whether to sell or spin off regional feeder carrier Comair. The airline has not provided a specific timetable for that decision.

 

[General Lee]

For the CEO
Cut pilot pay, send directly to next rich guy.

Delta CEO to Earn Up to $15 Million
Monday August 27, 5:33 pm ET New Delta CEO Can Earn Up to $15 Million in Incentives

ATLANTA (AP) -- Delta Air Lines Inc.'s incoming chief executive 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," where he served as an executive vice president, the filing said.
Some 55 percent of the sum would be paid in restricted stock, 25 percent in stock options and 20 percent in performance shares, the company said.
Anderson will also be eligible for another $4 million in performance-based awards next year, the filing said.
Both the payments would generally be vested over a three-year period.

The change at the top at Atlanta-based Delta follows the airline's 19 1/2-month reorganization under bankruptcy protection.
Delta entered Chapter 11 on Sept. 14, 2005. The company emerged from bankruptcy 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 Group Inc.
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 the airline would consider a deal with another carrier to increase shareholder value. Besides finding a new CEO, Delta's board also has to decide whether to sell or spin off regional feeder carrier Comair. The airline has not provided a specific timetable for that decision.

He was making at least $11 million a year at United Health Care, so I can see him making close to that here, but tied to incentives. That is the key. He won't make as much if we don't do well. If we do well, we (the pilots) also get raises. So, I guess we hope we really do well, and Anderson probably wants that too.

As far as merger speculation goes, thank gawd the USAir thing didn't go. If we have to eventually merge with someone, it will have to fit well or it won't go with Congress and the DOJ. That would mean possibly NWA, and that might not be a bad thing. I don't think anyone will merge until the next downturn at least, or when some other legacies make the big move. I think we will all remain independent for the time being.

Thanks 9rj9 for this great article.

Bye Bye--General Lee

 

[Little Bubba]

Hey General,

Check this out... http://forums.flightinfo.com/showthread.php?p=123517#post123517

 

[9rj9]

Here's Webster says....

Main Entry: com·pla·cen·cy
Pronunciation: -s&n(t)-sE
Function: noun
1 : self-satisfaction especially when accompanied by unawareness of actual dangers or deficiencies
2 : an instance of complacency

No outrage from anyone at Delta, they take millions from you and post a huge profit, not a word, CEO comes from a bankrupt company and then United Health board which is embroiled in a stock backdating scandal, nothing not a word. Don't you want something back, you didn't want a retirement or your dignity.
You guys act like a bunch of Iraqi Arabs waiting for someone else to solve your problems.

 

[General Lee]

Main Entry: com·pla·cen·cy
Pronunciation: -s&n(t)-sE
Function: noun
1 : self-satisfaction especially when accompanied by unawareness of actual dangers or deficiencies
2 : an instance of complacency

No outrage from anyone at Delta, they take millions from you and post a huge profit, not a word, CEO comes from a bankrupt company and then United Health board which is embroiled in a stock backdating scandal, nothing not a word. Don't you want something back, you didn't want a retirement or your dignity.
You guys act like a bunch of Iraqi Arabs waiting for someone else to solve your problems.

You are the crazy zealot. After BK hopefully you do post a profit, and that could lead to eventual pay raises. Without a profit, it is unlikely to restore higher wages. Anderson did not lead NWA into BK, that happened after his watch, and 9-11 sure helped with that process. If the UHC scandal had any merrit, our board would have known about it before hiring him. Otherwise, it would have been a huge public relations nightmare. And, as far as our "retirement"--we now have a better plan in our own names this time, and we were all given money in a claim sale (ten times what you make each year), plus we will be getting more cash for that dumped pension to boot. You need to look at your own problems and stopping being jealous about "ours." Our jobs aren't perfect by any means, but they are ten times better than yours.

Bye Bye---General Lee

 

[9rj9]

don't be so sure

haven't flown an rj since 02, now flying boxes out of Louisville. I'm a labor zealot that can't figure out why pax carriers have become such wimps. I'm not going to compare DL and 5X, they're different careers.
I care because I was in that system and want to see my friends happy and the massive sell out may somehow find its way into the cargo side. You sold your scope, just today Republic or one of you many hoes just swapped 70 seaters for 76 seaters, and you think you'll fly the 100 seater for anything above B6 or USair rates. Dream on, next contract 100 seaters will be given to the regionals, thats what the senior guys will sell for a little cash. 5 years it will be the narrow bodies, when will someone stand up for themselves instead of cheerleading.
I can't believe anyone sees Anderson "good old boy rich division" as anthing different than another passing CEO that will make bank when he gets canned in two years. I figured that redneck Whitehurst would get the nod, I guess he's not connected or rich enough. No one wanted him in the country club in peachtree. He actually has a clue on how to run an airline.
Main Entry: com·pla·cen·cy
Pronunciation: -s&n(t)-sE
Function: noun
Inflected Form(s): plural -cies
1 : self-satisfaction especially when accompanied by unawareness of actual dangers or deficiencies
2 : an instance of complacency

 

[General Lee]

haven't flown an rj since 02, now flying boxes out of Louisville. I'm a labor zealot that can't figure out why pax carriers have become such wimps. I'm not going to compare DL and 5X, they're different careers.
I care because I was in that system and want to see my friends happy and the massive sell out may somehow find its way into the cargo side. You sold your scope, just today Republic or one of you many hoes just swapped 70 seaters for 76 seaters, and you think you'll fly the 100 seater for anything above B6 or USair rates. Dream on, next contract 100 seaters will be given to the regionals, thats what the senior guys will sell for a little cash. 5 years it will be the narrow bodies, when will someone stand up for themselves instead of cheerleading.
I can't believe anyone sees Anderson "good old boy rich division" as anthing different than another passing CEO that will make bank when he gets canned in two years. I figured that redneck Whitehurst would get the nod, I guess he's not connected or rich enough. No one wanted him in the country club in peachtree. He actually has a clue on how to run an airline.
Main Entry: com·pla·cen·cy
Pronunciation: -s&n(t)-sE
Function: noun
Inflected Form(s): plural -cies
1 : self-satisfaction especially when accompanied by unawareness of actual dangers or deficiencies
2 : an instance of complacency

So, you are brown. Great. You really don't know exactly what is going on, and it took your guys many years to achieve what you have now. Yes, we will give Republic an extra 6 seats for the E175 over the E170, which will no doubt give more revenue and me a better chance to nonrev. And I love how you characterize Whitehurst and Anderson. You know neither, but since you fly brown now you are sooo much more smarter than any of them. Whitehurst is a redkneck? Huh? You really don't know him at all.

Also, how again do you come at next contract the 100 seaters will go to the regionals? You are getting delusional. We had to give them some seats due to the fact that a BK judge was breathing down our necks, but we did only give them 6 extra seats. We would have to be close to liquidation to give them anymore, and we were exactly that in BK. I think you need to worry about all of those over age 60 FEs at UPS that are waiting for an extra 5 years in front office, and don't tell me they won't sue to get back in there if they are now in the FE seat. Unless you want to go to ANC, you may be stuck in your seat for awhile. Did you hear about what we are getting next year besides E175s at Republic? Plenty. And we are hiring 75 a month now to fill a lot of new mainline seats. You don't really know much about what is going on over here, which is a good thing actually.

Bye Bye--General Lee

 

[9rj9]

Just don't understand where's the outrage, where is the line in the sand, 50 seat, 70 seat, 76 seat, you have to see that GL even though your rose colored glasses. Hope will not get you a pay increase, only action will and I see none thoughout the system. Trade mainline seats for rj seats, "hope" its worth an extra seat nonreving.
60 year old FEs is a small minority and really no impact to the 7-8 year upgrade, but at 120 hr and and a sweet A fund and 401K who wants to upgrade, i'll keep my day trips

 

[AA717driver]

GL--when you retire, you've got a great future as an alchemist. You can take a turd and make it into a bar of gold. (At least that's what it sounds like... ) TC