Trvlr From United States of America, joined Feb 2000, 4430 posts, RR: 21
Reply 1, posted (13 years 4 weeks 1 day ago) and read 1235 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.
Ceilidh From , joined Dec 1969, posts, RR:
Reply 2, posted (13 years 4 weeks 1 day ago) and read 1219 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.
ASA Flygirl From , joined Dec 1969, posts, RR:
Reply 3, posted (13 years 4 weeks 1 day ago) and read 1212 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.
LoneStarMike From United States of America, joined Jul 2000, 3856 posts, RR: 34
Reply 4, posted (13 years 4 weeks 23 hours ago) and read 1180 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.
Tsully From United States of America, joined Mar 2001, 651 posts, RR: 4
Reply 9, posted (13 years 4 weeks 22 hours ago) and read 1154 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...
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.
AAR90 From United States of America, joined Jan 2000, 3475 posts, RR: 46
Reply 10, posted (13 years 4 weeks 19 hours ago) and read 1097 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.
*NO CARRIER* -- A Naval Aviator's worst nightmare!
AApilot2b From United States of America, joined Nov 2000, 572 posts, RR: 1
Reply 12, posted (13 years 4 weeks 18 hours ago) and read 1091 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.
B747-337M From , joined Dec 1969, posts, RR:
Reply 13, posted (13 years 4 weeks 18 hours ago) and read 1086 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.
Yyz717 From Canada, joined Sep 2001, 16307 posts, RR: 56
Reply 14, posted (13 years 4 weeks 18 hours ago) and read 1079 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.
Oflove13 From United States of America, joined Mar 2000, 114 posts, RR: 0
Reply 15, posted (13 years 4 weeks 17 hours ago) and read 1062 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