737 Pylt
Um....Floats anyone??
- Joined
- Jul 8, 2003
- Posts
- 3,085
After all, we need to keep paying these theives!
AP
Delta CFO Made More Than $826,000 in 2005
Friday April 28, 6:07 pm ET
By Harry R. Weber, AP Business Writer Delta CFO Made More Than $826,000 in 2005, Filing Shows
ATLANTA (AP) -- The chief financial officer of Delta Air Lines Inc., Edward Bastian, earned more than $826,000 in total compensation last year, the bankrupt carrier said in a regulatory filing Friday that also detailed pay figures for the company's top executive
Bastian's compensation included a salary of $264,616, a bonus of $350,000, and other compensation totaling $212,230, the Securities and Exchange Commission filing says.
The bonus stems from a one-time payment the nation's third-largest carrier gave Bastian to compensate him for having to repay a significant portion of a signing bonus he received from Acuity Brands Inc., which he left in July 2005 after only one month to become CFO at Delta.
The bulk of the money listed as other compensation relates to a one-time payment Atlanta-based Delta gave Bastian as part of a separation agreement when he resigned in April 2005 from a previous position he held at Delta.
The filing also says that Delta's chief executive officer, Gerald Grinstein, received nearly $434,000 in total compensation last year. His compensation is expected to decrease this year because of a 25 percent pay cut he took on Nov. 1, 2005.
Delta, which has been operating under bankruptcy protection since September, has imposed pay cuts on most employees and has been seeking more pay cuts from its 5,930 pilots, who are represented by a union.
The union has agreed to average annual concessions the company has estimated at $280 million. Pilots will begin voting on the deal in mid-May.
If the deal is rejected, the pilots' threat to strike could resurface because an arbitration panel the company had asked to void the pilots' contract would again consider the request.
Delta has said a pilot strike would put it out of business. Delta Air Lines Inc.: http://www.delta.com
AP
Delta CFO Made More Than $826,000 in 2005
Friday April 28, 6:07 pm ET
By Harry R. Weber, AP Business Writer Delta CFO Made More Than $826,000 in 2005, Filing Shows
ATLANTA (AP) -- The chief financial officer of Delta Air Lines Inc., Edward Bastian, earned more than $826,000 in total compensation last year, the bankrupt carrier said in a regulatory filing Friday that also detailed pay figures for the company's top executive
Bastian's compensation included a salary of $264,616, a bonus of $350,000, and other compensation totaling $212,230, the Securities and Exchange Commission filing says.
The bonus stems from a one-time payment the nation's third-largest carrier gave Bastian to compensate him for having to repay a significant portion of a signing bonus he received from Acuity Brands Inc., which he left in July 2005 after only one month to become CFO at Delta.
The bulk of the money listed as other compensation relates to a one-time payment Atlanta-based Delta gave Bastian as part of a separation agreement when he resigned in April 2005 from a previous position he held at Delta.
The filing also says that Delta's chief executive officer, Gerald Grinstein, received nearly $434,000 in total compensation last year. His compensation is expected to decrease this year because of a 25 percent pay cut he took on Nov. 1, 2005.
Delta, which has been operating under bankruptcy protection since September, has imposed pay cuts on most employees and has been seeking more pay cuts from its 5,930 pilots, who are represented by a union.
The union has agreed to average annual concessions the company has estimated at $280 million. Pilots will begin voting on the deal in mid-May.
If the deal is rejected, the pilots' threat to strike could resurface because an arbitration panel the company had asked to void the pilots' contract would again consider the request.
Delta has said a pilot strike would put it out of business. Delta Air Lines Inc.: http://www.delta.com
