FCYTravis From United States of America, joined Sep 2005, 1191 posts, RR: 6 Posted (10 years 1 month 4 weeks 1 day 10 hours ago) and read 9378 times:
According to a post on US Aviation, Doug Parker, the former AWA CEO and now CEO of the merged US Airways, has declined to accept a $770,000 cash incentive bonus approved by the airline's board for AWA's 2005 stock performance.
The release quoted Doug as saying, in part:
“As CEO of a larger merged airline that has many employees who have taken significant pay cuts and many others still on furlough, I have communicated to our Board that I would prefer to receive an annual cash incentive when our employee profit sharing plans are paying dividends too. I recognize that deciding to lead the former US Airways team comes with some expectation of shared sacrifice. Ultimately, I look forward to the day when profit sharing is a consistent part of our culture and appreciate the efforts of all of our employees as we work to integrate our two airlines.”
USAir A321 service now departing for SFO with fuel stops in CAK, COS and RNO. Enjoy your flight.
HPLASOps From , joined Dec 1969, posts, RR:
Reply 8, posted (10 years 1 month 4 weeks 1 day 10 hours ago) and read 9236 times:
Doug has always been a cool chap who will lead our airline to new heights, I am beyond happy to hear of such news. So far the merger has been successful (especially the amount of pax who have been codesharing between the two airlines - a very good sign of our compatability) and I am confident we will have a profitable quarter this year and hopefully a profitable year next year.
WJ From United States of America, joined Feb 2006, 356 posts, RR: 0
Reply 18, posted (10 years 1 month 4 weeks 1 day 8 hours ago) and read 8947 times:
It's interesting how if he would have taken the bonus he would be ripped up one side and down the other for taking all this money when times are tough. Lets face it, if not for nothing, Doug Parker saved both HP (on more than one occasion) and US airways and rightly deserves every dollar he is given. This bonus would have come directly from the board and not out of the operation or anyone else's pocket. Still, Doug Parker, the man that he is, still declined it. Lets all keep this in mind when in the future he does choose to collect his due.
LTBEWR From United States of America, joined Jan 2004, 13842 posts, RR: 17
Reply 19, posted (10 years 1 month 4 weeks 1 day 8 hours ago) and read 8933 times:
Maybe he has a deal where he gets stock or stock options. If he can get the airline to profitability and higher stock price, maybe he can cash in for a lot more than 770K. In the meantime, he sets a good example to his fellow executives and does get a lot of good will with the employees and their unions.
SonOfACaptain From United States of America, joined May 2004, 1747 posts, RR: 6
Reply 20, posted (10 years 1 month 4 weeks 1 day 8 hours ago) and read 8933 times:
Quoting Mariner (Reply 5): Maybe that has something to do with his decision.
Guys, as you know, I am a hug US supporter, and I am also a big Parker fan, but the outcry he would have gotten HAD to have played a role in this. I am not saying that he didn't have any good will in this, but DP is a smart man, and this would not have been a good moral booster, something that is required during this merger time. I don't remember about the previous raise DP had, the Mariner is talking about, (I never payed attentioned to HP before the merger, I always concentrated on the east coast ) but I do remember the last executive raise at US not so long ago. Let me tell you, the employees were MAD, and for a lot of them, that was the final straw.