Union president calls for American Airlines resignations over bonuses

[Omaha Steve]

Source: Star-Telegram Staff Writer

By TREBOR BANSTETTER

A union leader is calling for the resignation of the top five American Airlines executives, including CEO Gerard Arpey, after the group split stock bonuses worth nearly $5 million Wednesday.

Laura Glading, who was recently elected president of the Association of Professional Flight Attendants, had previously asked the executives to decline the bonuses until airline employees have new contracts. She cited an "abysmal" performance record at the airline and noted that employees have been working under reduced wages and benefits since 2003.

"It's appalling," she said. "This management team has lost all credibility with the employees; they've completely lost our confidence."

The stock bonuses, which have been in place for several years, remain a major point of contention with American's unions. The bonus plan covers about 900 of the airline's top executives and managers, and awards company stock based on the performance of the shares compared with other airlines' during a three-year period.


Read more: http://www.star-telegram.com/business/story/587624.html

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[OhioChick]

3. 5 Mil in Stock Bonuses...

And what does the little man get....pissed on.

[Lucky Luciano]

4. Pretty small potatoes by today's standards

CEOs and top officers etc usually make MUCH more than this for large multinational companies.


Gerard Arpey, chief executive officer: $1.7 million

Tom Horton, chief financial officer: $934,000

Dan Garton, executive vice president of marketing: $934,000

Gary Kennedy, senior vice president and general counsel, $686,000

Robert Reding, executive vice president of operations, $686,000