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AA Ceo Works For Free  
User currently offlineVermeer From United States of America, joined May 2000, 447 posts, RR: 4
Posted (12 years 6 months 4 weeks 5 hours ago) and read 1233 times:

the CEO of American Airlines was on tv few minutes ago, and as a sign to commitment to his airline has decided to work for free ( no regular payment) for a year.

praiseworthy!

15 replies: All unread, jump to last
 
User currently offlineTrvlr From United States of America, joined Feb 2000, 4430 posts, RR: 21
Reply 1, posted (12 years 6 months 4 weeks 5 hours ago) and read 1177 times:

Well isn't this a surprise. Kinda makes all of the people who have been writing letters to the editor in newspapers bitching about how the airlines don't deserve this bailout look really really stupid.

Aaron G.


User currently offlineCeilidh From , joined Dec 1969, posts, RR:
Reply 2, posted (12 years 6 months 4 weeks 5 hours ago) and read 1161 times:

Now, let's see their seriously overpaid pilots do the same! AA will be donating 20c of every dollar surrendered by staff to a fund for the relatives of the AA crew members killed in the aircraft hijacked on the 11th and to provide hardship intervention for staff.

User currently offlineASA Flygirl From , joined Dec 1969, posts, RR:
Reply 3, posted (12 years 6 months 4 weeks 5 hours ago) and read 1154 times:

Of course, he fails to add that he picked up options on 40000 units of AMR stock instead. Based on their value at close of business today versus their low point when he accepted them, thats about $109600 in profit already.

User currently offlineLoneStarMike From United States of America, joined Jul 2000, 3783 posts, RR: 34
Reply 4, posted (12 years 6 months 4 weeks 4 hours ago) and read 1122 times:

Unless something has changed from this morning, I believe your statement is a little misleading. He isn't going to work free for a whole year. He is going to work free for the remainder of THIS year (3 months). Still, a nice gesture, though.

LoneStarMike

User currently offlineSkychuck From , joined Dec 1969, posts, RR:
Reply 5, posted (12 years 6 months 4 weeks 4 hours ago) and read 1105 times:

symbolic gesture, but a good one. I know I couldn't live off my savings for 3 months.

User currently offlineDelta737 From United States of America, joined Jun 1999, 516 posts, RR: 10
Reply 6, posted (12 years 6 months 4 weeks 4 hours ago) and read 1108 times:

Seriously over paid pilots, niiiiiiiice.


Doug Taylor
Pilot


User currently offlineCeilidh From , joined Dec 1969, posts, RR:
Reply 7, posted (12 years 6 months 4 weeks 4 hours ago) and read 1101 times:

ASA Flygirl - true, but if AMR goes under, then that stock will be worth zip. And if he pulls it out of its perilous position, then he deserves every cent he makes!

User currently offlineStratofish From Germany, joined Sep 2001, 1050 posts, RR: 6
Reply 8, posted (12 years 6 months 4 weeks 4 hours ago) and read 1094 times:

A really nice gesture!
Let´s hope it´s not only for PR reasons and more CEOs (not only of airlines) will follow.
rgds



The Metro might be the Sub(optimal)way
User currently offlineTsully From United States of America, joined Mar 2001, 651 posts, RR: 4
Reply 9, posted (12 years 6 months 4 weeks 4 hours ago) and read 1096 times:

Nice gesture, but impractical for other employees to do the same. If I recall, AA's CEO's base salary for 2000 was more than $750,000. He then received around 1.4 million in bonuses. And that doesn't include his long term payment (mainly stock options) of 2+ million.

I'd say he is doing a nice, symbolic gesture. But there is no way an F/A making 30k per year can afford to follow in his footsteps.

Pilots cannot go without pay and still live in the manner to which they are accustom.
It is not as simple as some of you people think for pilots to just cut their salaries or flat-out go without pay.

It is much easier for the upper-management to work without pay. Surely they can live off the fat of the land for a while anyway...

sully



I love America. I guess that makes me Bush's poodle, but I'd rather be a dog in New York City than a prince in Riyadh.
User currently offlineAAR90 From United States of America, joined Jan 2000, 3451 posts, RR: 47
Reply 10, posted (12 years 6 months 4 weeks ago) and read 1039 times:

A. No salary for remainder of the year (a little over 1/4 of his salary).
B. No bonus payments this year or last year.
C. AMR stock purchase was done using his own cash on the open market. No options exercised, offered or utilized.
D. Carty freely admits all the above is a gesture and will have little impact on AMR's survival. He also admits few AMR employees can make such a gesture, but since he can..... he is.  Big grin



*NO CARRIER* -- A Naval Aviator's worst nightmare!
User currently offlineYyz717 From Canada, joined Sep 2001, 16228 posts, RR: 57
Reply 11, posted (12 years 6 months 4 weeks ago) and read 1034 times:

It's easy to make these gestures when you've been pulling in millions for a few years. Methinks it's a little hollow. In just 14 weeks...Jan 02...his pay restarts.



Panam, TWA, Ansett, Eastern.......AC next? Might be good for Canada.
User currently offlineAApilot2b From United States of America, joined Nov 2000, 572 posts, RR: 1
Reply 12, posted (12 years 6 months 3 weeks 6 days 23 hours ago) and read 1033 times:

I think AAR90 does a good job explaining this and I believe that gesture, or no gesture, it is the sign of a true leader to do such a thing. Lead by example. It rallies the support of employees and customers alike and is not "hollow." It is so easy for those of us who don't make a lot to criticize "the rich man." Don not only has a good business mind, but he is also a good man and should not be bashed for making a decent gesture.

User currently offlineB747-337M From , joined Dec 1969, posts, RR:
Reply 13, posted (12 years 6 months 3 weeks 6 days 23 hours ago) and read 1028 times:

I have no doubt that Carty is a decent sort and means well with this cut, but he is still a ruthless bastard who will sacrifice his people for AA's bottom line. Go look at Alaska or Southwest or AirTran for examples of people who won't.

I'm not saying one is better than the other, just pointing out that there are two ways to approach this situation and Carty has made his choice.


User currently offlineYyz717 From Canada, joined Sep 2001, 16228 posts, RR: 57
Reply 14, posted (12 years 6 months 3 weeks 6 days 23 hours ago) and read 1021 times:

One view of leadership is that you lead my example. Very few AA employees can afford to forgo their entire salary (let alone even a portion), so this gesture (while admittedly meant as a warm honest gesture) will only serve to remind the AA employees that Carty's income is so far in the stratosphere that it is indeed a hollow gesture.

Is Carty attending the funerals of the perished AA employees from Sept 11? Has he personally visited their families?? Maybe he has...but this is a bigger example of leadership.




Panam, TWA, Ansett, Eastern.......AC next? Might be good for Canada.
User currently offlineOflove13 From United States of America, joined Mar 2000, 114 posts, RR: 0
Reply 15, posted (12 years 6 months 3 weeks 6 days 22 hours ago) and read 1004 times:

looks like i am not the only one with this "communist Idea" that the ceo's and upper management should cut there salaries to help save money, didnt think someone would totaly give it up but good for them glad someone is trying to help out becides laying off workers

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