CALMSP
Topic Author
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UA CEO Get Nice Bonus

Fri Mar 18, 2005 4:37 am

so with this announcement and finding...how long will Tilton be around. in the travel section of usatoday it says Tilton received a $366,000 bonus last year on top of his salary.....this wont sit good after taking concessions from every group.
 
redflyer
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 4:50 am

Although it's not much of a bonus insofar as CEO compensation for a large company goes, it smacks of hypocrisy at a time when they are exacting a lot of concessions from the employees. What a pig. If he really wanted to set the example and develop a better working relationship then he should at least forgo any bonus compensation.

Sounds like a repeat of the Don Carty mess at AA back in '02.

[Edited 2005-03-17 20:54:24]
My other home is in the sky inside my Piper Cherokee 180.
 
jdaniel001
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 4:51 am

Yep, he needs to give it back to the employees as a "thanks for taking in the shorts" bonus.
We Are UNITED!
 
tockeyhockey
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 4:56 am

UA is an embarassment. when will they get out of chapter 11? ever?
 
F9Animal
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 5:11 am

What ever happened to dedication?

I am saddened at the shape of UA. I am even more saddened at seeing Tilton in full control of UA. He is pocketing $366,000.00. He signed that check, and deposited it into his account. While doing so, I guarantee you he never once considered the feelings of those he got concessions from while depositing the check. He never even once thought about the pension plans he pulled the plug on while depositing it.

Am I asleep at the wheel? I thought a bonus was given when a company spits out profits? I thought a bonus was a reward for success? I thought a bonus was something you got, when YOU EARNED IT?????

For those of you that seriously think Tilton is the savior of UA, you have to seriously rethink it. That man is setting UA up for complete failure.

Sorry, but sometimes the truth hurts.
I Am A Different Animal!!
 
jdaniel001
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 5:17 am

F9animal...you have to admit that Tilton has done a lot to generate revenue for the company. Moving capacity from the domestic market to the international market. Adding flights to 2 new Asian markets. Introducing P.S. service. I think that they are and will be better off in the long (o.k. long long long) run but I do believe that he should have declined the bonus or given back to the employees.
We Are UNITED!
 
redflyer
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 5:19 am

Quoting F9Animal (Reply 4):
I thought a bonus was given when a company spits out profits? I thought a bonus was a reward for success?

Not to split hairs; however, a CEO (or any management) bonus could be structured around diminishing losses. In other words, "do something that reduces our losses and we'll pay you extra." For all we know, that bonus could have been paid out for exactly what he did, which was to obtain employee concessions (e.g., reduce losses).

But that still doesn't detract from his primary duty, which is to LEAD the company. And as any successful leader will tell you, you have to lead by example in order to gain the respect of your charges and their willingness to go to bat for you.

As a leader, he sets a very, very poor example by asking his employees to take a pay cut but then he accepts a bonus. Like I said before, he's a pig.
My other home is in the sky inside my Piper Cherokee 180.
 
SeaMeFly
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 5:24 am

Same old story... What's new about all these airlines' CEOs? All of them try to squeeze as much money from the airlines to put in their own pockets. In return, they make the employees take tremendous pay cuts.

Airline employees are just their slaves to work and they hope to pay these employees as little as possible so all the excessive $ could go deeper into their own pockets..
 
gigneil
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 5:41 am

As I said in the other thread-

I am AMAZED that Tilton makes as little as he does. SHOCKED.

Clearly, he's not a greedy person and I find that impressive. He could leave UA and make 5 times as much with little trouble.

Clearly, none of you understand how executive compensation works.

N
 
exFATboy
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 6:05 am

Tough call - on the one hand, a CEO of a company with the revenue, assets, or staff of United in any other industry would earn a hell of a lot more than Tilton does. Although I realize it may be a hard pill to swallow for airline employees, the airline industry as a whole pays its executives less than comparable firms in other industries. And for a company in United's position, the board of directors doesn't have a lot of flexibility in offering options or stock as part of a compensation package.

On the other hand, when you're trying to get givebacks from your employees and you've been in Chapter 11 for over 2 years with no end in sight (Ch 11 is supposed to be "reorganization", not "permanent way of doing business"), it's hard to justify Tilton getting a bonus, at least on a "gut feel" level.

It would probably have been best for Tilton to forego the bonus, or at least explain how it was arrived at - in other words, what he did to earn it.
 
stlgph
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 6:06 am

Quoting Gigneil (Reply 8):
I am AMAZED that Tilton makes as little as he does. SHOCKED.

I'm sure the ramp agents are amazed he makes as little as he does, too.


Clearly, he's not a greedy person and I find that impressive. He could leave UA and make 5 times as much with little trouble.

I'm sure the employees of United Airlines are quite wishing that right now.


Clearly, none of you understand how executive compensation works.

I am sure that is what UA management will be saying in their press releases after the employees decide to retaliate like US Airways employees did last Christmas.
if assumptions could fly, airliners.net would be the world's busiest airport
 
F9Animal
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 6:14 am

Quoting RedFlyer (Reply 6):
Not to split hairs; however, a CEO (or any management) bonus could be structured around diminishing losses. In other words, "do something that reduces our losses and we'll pay you extra." For all we know, that bonus could have been paid out for exactly what he did, which was to obtain employee concessions (e.g., reduce losses).

As far as Tilton diminshing losses.... I will not even step on that ground. The losses have steadily grown bigger. Tilton has had plenty of time to fish and find the formula to success for UA.

Employee concessions.... He got them, so now what? What can he possibly do now? Can he possibly target the employees anymore? What else does he want from the employees paychecks?

I love to eat steak. When money runs low, I eat Top Ramen. When I find myself unable to eat Top Ramen, then I find a new job. Sounds like Tilton may just need to quit eating the steak, and forget stepping into the world of Top Ramen.

Again, I feel for the employees of UA. I think it is time for a breath of fresh air to step in, and take control of the airline. UA needs a whole new management structure.
I Am A Different Animal!!
 
AA7573E
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 6:20 am

Quote:
Gigneil (Reply 8):Clearly, none of you understand how executive compensation works.

Clearly, you have no idea how business works. It is completely illogical that the CEO of a bankrupt carrier would take a bonus, at all. If the employees are giving it up, why should he take it from them? What does he need a bonus for? They are typically paid for going above and beyond. I would hardly call keeping your company in its 2nd and possibly 3rd full year of BK going above and beyond. You must have a different perspective.

If you ever become an executive, and with your perspective I highly doubt that will ever happen, I encourage you to take a bonus that is in excess of all your employees annual salary - during a time when you have asked you employees to take pay cuts. See how it goes over.

Your respect rating boggles my mind, when you continually spout such poorly thought out trash.
See you up front!
 
CTHEWORLD
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 6:21 am

It doesn F9? So, I take it Tilton is to blame for the debacle at Gordie's company? Is he responsible for NW's cut backs? How about down in Dallas, has he been moonlighting at AA? This is an idustry wide crisis. Are you going to fire Tilton becuase United's unit revenue performance is second only to WN's. Are you going to fire Tilton because he didn't a pull a US and hastily come out of Ch. 11 only to fly right back in? Are you going to fire Tilton because with all of the adverse conditions that have been thrown at UA, they continue to fly and navigate through one of the most complicated Ch.11 proceedings in U.S. history?
 
7e72004
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 6:26 am

It is time to either put up or shut up for UA; either get out of bankruptcy or just liquidate...it is disgusting that the employees give so much in terms of conecessions but yet the CEO takes home a bonus..i hope he chokes on his own money!
The next generation of aircraft is just around the corner!
 
AA7573E
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 6:28 am

CTHEWORLD

I would not fire him for any of the illogical examples you have cited. However, having the board remove him for not reaching the goal of taking the airline out of BK in the past two plus years would be 100% defensible.

He has failed at his job, and now sets a terrible example for his employees of rewarding himself, whilst everyone else is taking paycuts. For an appropriate example of how to handle the situation, see the moves made at CO, in terms of downsizing executive compensation packages, and not taking ANY bonuses. And you know what's even funnier about the moves made by CO, they are not in BK. Novel idea.
See you up front!
 
FriendlySkies
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 6:28 am

You are all forgetting something. Tilton is currently the best bet UA has. He is working for pennies compared to other CEOs (I think the CEO of Pfizer makes $2.6 mil base a year), and has done an ok job keeping the airline afloat. UA will not find another CEO that's better or, for lack of a better word, cheaper, than Glenn Tilton. The bonus was part of an incentive program they initiated, and it was paid because UA met the goals they set for 2004. This program was announced last year. Yes, it seems bad, but a lot of employees understand why he got the bonus, and the fact that he's making almost half of what he was when he started should not be ignored. He has taken cuts, is working for the lowest CEO salary in the industry (let me remind you, UA is the second largest airline in the world and the largest US international airline by passenger bookings), and has managed to keep UA alive. Give the guy a break.
 
jdaniel001
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 6:29 am

Nice job CTHEWORLD. I think we all agree that the industry is a mess. And I also know that Lamar Muse kept very tight cost controls on WN. That is why they are in the condition that they are in today. It was rough for their employees also. Everyone has to adjust to making a lower wage or having less benefits. Speaking of which, does anyone know how much money is taken out of the paycheck for medical insurance at UA now? I think UA recently started charging the employees.
We Are UNITED!
 
F9Animal
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 6:36 am

Quoting CTHEWORLD (Reply 13):
It doesn F9? So, I take it Tilton is to blame for the debacle at Gordie's company? Is he responsible for NW's cut backs? How about down in Dallas, has he been moonlighting at AA? This is an idustry wide crisis. Are you going to fire Tilton becuase United's unit revenue performance is second only to WN's. Are you going to fire Tilton because he didn't a pull a US and hastily come out of Ch. 11 only to fly right back in? Are you going to fire Tilton because with all of the adverse conditions that have been thrown at UA, they continue to fly and navigate through one of the most complicated Ch.11 proceedings in U.S. history?

I would fire him to bring in someone that knows how to run an airline, or hire someone that knows how to make money.

I agree with you that the industry is in bad shape right now, but airlines need someone that does more than run a bonus check to the bank, and dips into an employees paycheck to pay the bills.

Losses are a part of the game right now, but I see Tilton doing nothing to minimize the amount of loss. He was so into dipping into the employees paychecks, and pensions, that he has done little to steer the airline from a nose dive.

US Airways has done much more with Lakefield in. Lakefield has no prior experience in the airlines, and at least has become creative to change the way US Airways does business. In fact, I see US Airways getting cash from unlikely sources now.

Who wants to invest into UA? What has Tilton done to show investors that he is CHANGING the way UA does business?

UA has too many different things going on!! TED, mainline, and United PS? Maybe Tilton should focus on running a simple airline. Take out the pillows, outsource some maintenance, park more than a few planes, and most importantly focus on better advertising.

When the US Government wont even invest into your company, perhaps that tells you that something is seriously wrong. Even US Airways got an ATSB loan.

Seriously, the only thing I see changed at UA are the following:

New paint jobs.
Poorer employees.
Ummmmmm. TED? Ok, we will put that back into the New Paint Jobs Section.

You can defend your airline. I respect that. But you have to agree that something needs to be done. I am not against UA in any way. I just hate seeing my peers suffer so badly.
I Am A Different Animal!!
 
CTHEWORLD
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 6:38 am

AA7573E,

You obviously know nothing of the case nor the creditor committee. When did the courts get around to hearing the issues of the muni bonds, huh? Oh, in January you say? Maybe they should have just rushed out of Ch.11 prior to that and faced with that extra 480million liability. Tilton wasnt charged with getting UAL out of Ch.11 on a prescribed schedule, he is charged with getting them out and keeping them out. There are a lot of other factors at play than you know...take the PGBC for instance.
 
CTHEWORLD
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 6:40 am

F9, you ask who wants to invest in UA? Are you serious? 4 of the largest banks in the world and good rumor is one of the largest aircraft manufacturers. Pull your head out and read the news. As far as the product diversification, that is a smart move, no two ways about it. Outsource maintenance? Ok, done. Indianapolis shut down, outsourced, SFO / KSFO), USA - California">SFO, maint and engineering cut drastically. Change advertising from an award winning campaign that is dramatically cheaper to produce? Change livery back to one that is more expensive to paint/maintain? Uh ok, F9animal...sounds like you have all the answers!

[Edited 2005-03-17 22:44:04] BTW...united isnt and never was my airline, I am not in the industry any longer.

[Edited 2005-03-17 22:45:25]
 
F9Animal
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 6:59 am

Quoting CTHEWORLD (Reply 20):
4 of the largest banks in the world and good rumor is one of the largest aircraft manufacturers.

I love rumors! In fact, I shall live my life by rumors! Rumors are a sign of hope! I am sure those 4 banks LOOOOVVVEEE reading the quarterly losses! Heck, the banks should pump double the cash into UA. Maybe they should double Tilton's bonus check!

Quoting CTHEWORLD (Reply 20):
Pull your head out and read the news.

I certainly pulled my head out, and I read the news! So much news in fact, that everytime I read it I feel like puking. Would you like me to put a few links out about the AWESOME news UA gets everyday? I could have sworn the last article I read about UA, was not good news. In fact, I cannot remember the last time I read a positive looking article about UA.

Quoting CTHEWORLD (Reply 20):
Change advertising from an award winning campaign that is dramatically cheaper to produce?

You call a cartoon award winning? I change the channel as soon as I see one come on. IMHO, Preperation H has better commericals.

Quoting CTHEWORLD (Reply 20):
Change livery back to one that is more expensive to paint/maintain?

I stated that UA has too many paint jobs. Last time I looked, UA and TED were new paints. Why not throw in a Star Alliance paint too! Heck, why not paint a theme plane now! Paint is cheap!

Quoting CTHEWORLD (Reply 20):
Uh ok, F9animal...sounds like you have all the answers!

I never said I had all the answers. I said UA needs someone who has more answers than Tilton does. I would not want to be the CEO of UA. If I was CEO, all I would want to do is cash my paychecks and BONUS checks.
I Am A Different Animal!!
 
F9Animal
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 7:04 am

CTHEWORLD,

My last posting was sarcastic in some ways. I was not trying to argue with you either. I am just frustrated at seeing a once great airline, go down the path it is going.

I am an airline enthusiast. Everytime an airline fails, it is painful. Regardless if it is a competitor, I am saddened to see my friends or peers suffer.

I know I could easily find myself in the same position, as this industry is hurting. I don't take that for granted. I just share my feelings, and stand behind the employees of all airlines who are trying as hard as they can to keep the airline they work for flying.
I Am A Different Animal!!
 
redflyer
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 7:11 am

AA7573e/F9Animal:

You guys rock! Ctheworld's responses reflect his lack of business acumen (I'm not going to discuss his rude personal comments; I'll leave that for someone else).

While Tilton is paid less than comparable CEO's, he's also climbed out on a limb with the employee concession issue. Had he not fought so hard to get them, I'd say he was more than entitled to his bonus and perhaps more.

The issue here is not CEO compensation. The issue is asking your employees to fall on a sword but then refusing to do so yourself. THAT sets a bad example. It leads to low morale and poisons any good will that may have existed between management and staff. And in the end, it dimishes the capacity to lead the company EFFECTIVELY.
My other home is in the sky inside my Piper Cherokee 180.
 
Skyguy
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 7:42 am

There would be very VERY few contenders for the CEO of UA job, who are top talent and have a proven track record.
People of Tilton's caliber do not work for charity but it should be noted that had he gone somewhere else he would have been making seriously more coin than at UA. He is in this not because he wants $millions in salary and compensation but to prove that he can turn UA around and when it reaches smooth sailing waters to relinquish the CEO position with his reputation sky-high and sell his services to the next company for a lot more. His view is medium and long term and in this business reputation is what matters.
Fact is, the majority of people at UA do not even know what he knows and the excruciatingly difficult decisions he has to take, which are encumbered with risk but also spell hope for the future. UA is investing in the future and that is what Tilton is trying to deliver, for its employees, customers and vendors.
"Those who talk, do not know, and those who know, do not talk."
 
allstarflyer
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 7:49 am

Quoting AA7573E (Reply 12):
Quote:
Gigneil (Reply 8):Clearly, none of you understand how executive compensation works.

Clearly, you have no idea how business works. It is completely illogical that the CEO of a bankrupt carrier would take a bonus, at all. If the employees are giving it up, why should he take it from them? What does he need a bonus for? They are typically paid for going above and beyond. I would hardly call keeping your company in its 2nd and possibly 3rd full year of BK going above and beyond.



Quoting AA7573E (Reply 12):
Your respect rating boggles my mind, when you continually spout such poorly thought out trash.

Clearly, Gigs, you have little to no concept of leading by example. How can Tilton expect to lead his employees through hard times, which includes suffering pay cuts, when he accepts any kind of bonus. How are they supposed to feel after that? One aspect of a leader is being able to let those who follow know that they can identify with the leader and the leader with them, that the leader understands/sympathizes with their situation(s), that the leader actually gives a rip.

-R
Living the American Dream
 
AA777
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 8:02 am

Nobody has actually mentioned how much he makes per year SALARY?? If I were in his position I wouldnt take a 350K bonus, especially right after all your employees take huge pay cuts. Unless his salary is like really as low as some people are saying? .... I am guessing his salary is 400,000? Maybe I'm way off base.... the point is, if he is making a decent salary as it is, he can afford to not take a bonus in interest of looking like a true team player at UA. He should want to integrate himself with the employees, and not look like some lofty corporate putz who doesnt give a hoot about the pilots, F/As and mechanics!

-AA777
 
redflyer
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 8:10 am

His salary, according to UAL's SEC 10k filing, is $756,832.
My other home is in the sky inside my Piper Cherokee 180.
 
kgin11
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 8:20 am

Apple Computer paid CEO Steve Jobs $1 last year. How about that?
Kelley Gin
 
Lemurs
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 8:34 am

Quoting Kgin11 (Reply 28):
Apple Computer paid CEO Steve Jobs $1 last year. How about that?

After the scandle of how much stake in the company they offered him for free, sure.
There are 10 kinds of people in the world; those who understand binary, and those that don't.
 
PHXinterrupted
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 8:40 am

Quoting Gigneil (Reply 8):
Clearly, none of you understand how executive compensation works.

Anybody who reads the news knows how executive compensation works. These clowns get paid no matter what, and of course, they will take even more if they can get away with it.
Keepin' it real.
 
scotron11
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 8:52 am

Is Glenn Tilton a "real" person? All I hear about him at UAL is his prerecorded announcements to employees!lol

Seriously, his salary is quite "modest" by CEO standards. And let's face it, he has had some long bridges to cross. As they say, the proof is in the pudding, and the jury is still out on that one.
 
CTHEWORLD
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 10:11 am

1) A qoute from JP Morgan Chase

"The changes to the financing agreement reflect our belief that United has made significant progress to date in lowering its costs and executing on its business plan," said Bill Repko, managing director at J.P. Morgan Chase

2) It costs the same to paint a Ted plane as it does mainline, both are MUCH cheaper than the old grey and blue. Paint is a maintenance item, particular critical on the Airbus, so if you have to do it, you might as well do it cheaper than before.

3) As far as the timing of the exit, read this "Chief financial officer Jake Brace cited the ongoing pension deliberations as the reason for pushing back the bankruptcy exit target but cited the amended debtor-in-possession financing as an endorsement of United's "solid business plan."

Now, unless you know of a way to hurry the Federal Government and the District Court, then I would say UAL doesn't have 100% control of their exit timing.

4) F9, your aesthetic aside, Fallon has won many awards for their work (BMW Films, Cat Herding etc...), the Rhapsody campaign received HUGE coverage and praise in AdWeek and the production costs were very low. While you might enjoy Prep H commercials more, the industry experts disagree with you.

5) F9 you would bring someone in who knows the airline business? Hmm... I were the board I would bring someone in who can successfully negotiate a large corporation through CH.11 proceedings. The CEO does not run operations and make tactical decisions, those are made by the airline veterans, the very ones that are transforming UA, Tague, Hacker, Cary etc...who have proved their mettle in the ranks of UA and at other airlines.

[Edited 2005-03-18 02:13:22]
 
F9Animal
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 10:37 am

Quoting CTHEWORLD (Reply 32):
1) A qoute from JP Morgan Chase

"The changes to the financing agreement reflect OUR BELIEF that United has made significant progress to date in lowering its costs and Executing its business plan," said Bill Repko, managing director at J.P. Morgan Chase. He went on to say while scratching his head, "United continues to mount unbelievable losses, and somehow they are even getting bigger".

Reading the quoted sentence makes me wonder. Two words really stuck out, and I took it upon myself to capitalize them for your pleasured viewing. "I believe" is alot different than "I know".

Quoting CTHEWORLD (Reply 32):
2) It costs the same to paint a Ted plane as it does mainline, both are MUCH cheaper than the old grey and blue. Paint is a maintenance item, particular critical on the Airbus, so if you have to do it, you might as well do it cheaper than before.

Yes it does cost the same to paint a Ted plane, as it does the mainline fleet. It also costs the same to operate a Ted plane, as it does a mainline aircraft. It also has the same flight crew, pilot crew, and airline crew. It pays everyone the same salary as the mainline crews. Running an airline within an airline has proven failure time and time again.
I Am A Different Animal!!
 
F9Animal
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 10:41 am

I wont argue about you with the commercials. Rhapsody is well known, as our children love them! Nothing better than a good old cartoon! Airlines and cartoons are popular, especially in the cartoon comics in the newspaper!
I Am A Different Animal!!
 
User avatar
727stretch
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 11:08 am

It's a tough call here folks. On one hand, I feel for all of us that have taken the cuts. But, you have to pay a good CEO a decent salary/bonus to keep them on! You pay a CEO for experience, connections, ability, etc. In this case, Tilton has done just fine. Look at all the talented managers/VPs he has recruited to UAL through his dozens of years experiences in other industries. He has re-introduced a theme of accountability to UAL that was absent for many many years. He really is worth the money UAL is paying him. The only CEO that would be willing to work for pennies is someone who is a UAL veteran who has a huge loyalty and love for the company. However, the way UAL was in the past (poor management structure, inefficient everything) is not the way we can run a company in the current industry situation. As such, a UAL veteran is probably not the best choice for a CEO. Tilton needs a bonus just to keep him with us, so we can tap into his expertise.
 
jacobin777
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RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 11:44 am

how about comparisons of pay to other carriers...

AA
Gerard Arpey, 45
Chairman, Pres, Chief Exec. Officer $ 686.00K N/A James Beer, 43
Chief Financial Officer, Sr. VP-Fin. N/A N/A
Daniel Garton, 46
Exec. VP - Marketing of American $ 618.00K N/A


WN
Herbert Kelleher, 73
Chairman $ 693.00K $ 14.65M
Colleen Barrett, 60
Pres, Sec., Director $ 662.00K $ 456.00K
Gary Kelly, 49
Vice Chairman, Chief Exec. Officer $ 467.00K $ 159.00K


B6
David Neeleman, 44
Chief Exec. Officer, Director $ 335.00K N/A
David Barger, 46
Pres, Chief Operating Officer, Director $ 335.00K N/A
John Owen, 48
Chief Financial Officer, Exec. VP $ 335.00K N/A


Northwest
Gary Wilson, 64
Chairman of Directors N/A N/A
Douglas Steenland, 52
Pres, Chief Exec. Officer, Director $ 1.93M $ 13.00K
Bernard Han, 39
Chief Financial Officer, Exec. VP $ 1.28M N/A
Barry Simon,
Exec. VP, Gen. Counsel N/A N/A
J. Timothy Griffin, 52
Exec. VP of Sales and Marketing and Customer Relations $ 1.86M $ 13.00K


Glenn Tilton, 55
Chairman, Pres, Chief Exec. Officer $ 777.00K N/A
Frederic Brace, 46
Chief Financial Officer, Chief Restructuring Officer, Exec. VP $ 699.00K N/A
Scott Dolan,
Pres - United Cargo, Sr. VP - United Airlines N/A N/A
Peter McDonald, 52
Chief Operating Officer, Exec. VP $ 675.00K N/A


Air Tran
Joseph Leonard, 60
Chairman, Chief Exec. Officer $ 1.00M N/A
Robert Fornaro, 51
Pres, Chief Operating Officer, Director $ 712.00K $ 342.00K
Stanley Gadek, 52
Chief Financial Officer, Sr. VP-Fin. $ 284.00K N/A
Richard Magurno, 60
Sr. VP, Gen. Counsel, Sec. $ 280.00K N/A
Stephen Kolski, 63
Sr. VP - Operations of the Company's Operating Subsidiary $ 329.00K $ 903.00K


Frontier
Samuel Addoms, 64
Chairman N/A N/A
Jeff Potter, 45
Pres, Chief Exec. Officer, Director $ 305.00K N/A
Paul Dempsey, 53
Co-Vice Chairman N/A N/A
B. LaRae Orullian, 71
Co-Vice Chairman N/A N/A
Paul Tate, 53
Chief Financial Officer, Sr. VP $ 201.00K N/A


British Airways
Martin Broughton, 57
Chairman $ 68.00K N/A
Roderick Eddington, 54
Chief Exec. Officer, Director $ 1.08M N/A
John Rishton, 46
Chief Financial Officer, Director $ 592.00K N/A
Willie Walsh,
Chief Exec. Officer Designate N/A N/A
Paul Coby, 48
Chief Information Officer N/A N/A


HP
W. Douglas Parker, 42
Chairman, Pres, Chief Exec. Officer of Holdings and AWA $ 1.56M N/A
Derek Kerr, 39
Chief Financial Officer, Sr. VP $ 1.01M N/A
J. Scott Kirby, 36
Exec. VP of Sales and Marketing of Holdings and AWA $ 742.00K N/A
Jeffrey McClelland, 44
Exec. VP and Chief Operating Officer of AWA $ 1.63M N/A
Joseph Beery, 41
Sr. VP, Chief Information Officer N/A N/A


clearly, Tiltons pay is in the middle of the range.....


source: yahoo finanance
"Up the Irons!"
 
ANNOYEDFA
Posts: 441
Joined: Thu Dec 16, 2004 9:16 am

RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 1:02 pm

Simply AMAZING! Where are all my Co-Elite's on this one? Consessions from employee's then bonuses for the CEO....... Funny how none have responded to the despicable display of NON-LEADERSHIP.
"TWA... One Mission, Yours."
 
CTHEWORLD
Posts: 463
Joined: Fri Dec 10, 2004 5:27 am

RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 2:38 pm

Well F9, until you are the managing director at JP Morgan Chase, you will have to excuse me for following his belief over your perceptions. Also, great for you kids, maybe they will have a future in the Ad business, although to move to the top they will have to leave Denver. Oh, and as for Ted, it isn't only the $$ it is the work rule and scheduling changes, so why not go for an individual identity, ceteris paribus?
 
CTHEWORLD
Posts: 463
Joined: Fri Dec 10, 2004 5:27 am

RE: UA CEO Get Nice Bonus

Fri Mar 18, 2005 3:54 pm

Oh, and BTW... the gentleman from JP Morgan Chase would never say "I know..." about any investment lest he have his attorneys all over him like a cheap suit. Statements such as "I know..." are implied guarantees of financial performance, you will never hear them say that. "We believe..." (and are putting our money where our mouth is) is as strong a wording as you will get out of a banker.
 
F9Animal
Posts: 3681
Joined: Thu Dec 16, 2004 7:13 am

RE: UA CEO Get Nice Bonus

Sat Mar 19, 2005 12:04 am

UA once again posted an unbelievable loss. What does your boy at JP Morgan say about this one?

Associated Press
United Airlines Posts Wider 4Q Loss
Friday March 18, 8:27 am ET
United Airlines Widens Its 4Q Loss to $819 Million, Operating Revenue Rises


NEW YORK (AP) -- United Airlines said Friday that its loss widened in the fourth quarter to $819 million from $630 million a year ago.
The carrier's parent company, UAL Corp., posted a loss of $741 million for the quarter, compared with a loss of $475 million a year ago.


Should UA employees sign over another bonus check for Tilton? Why not double it????

[Edited 2005-03-18 16:06:48]
I Am A Different Animal!!
 
N79969
Posts: 6605
Joined: Tue Jan 29, 2002 1:43 am

RE: UA CEO Get Nice Bonus

Sat Mar 19, 2005 12:23 am

Gigneil is 100% correct in his take on this one. Tilton's world includes opportunities with plenty more money and plenty less stress than running United. People at his level are not limited to working for airlines.

The diametric opposite is true for United's pilots, mechanics, and flight attendants. Even after the undoubtedly painful sacrfices, these people know that theirs alternatives in the job market are way worse.

Quoting F9Animal (Reply 18):
I would fire him to bring in someone that knows how to run an airline, or hire someone that knows how to make money.

Like who? Name one person who could make United Airlines (or Delta or Continental or American) profitable with $57/barrel crude oil. Perhaps Bernie Ebbers will have some free time in prison to draw up such a business plan.
 
na
Posts: 9211
Joined: Sun Dec 12, 1999 3:52 am

RE: UA CEO Get Nice Bonus

Sat Mar 19, 2005 12:40 am

Its not the height of the bonus, its that a bonus is paid at all.
A sign of how blind and unconsiderate many top-managers are. That a CEO of such a problematic huge company should get a high payment is ok for me, but a bonus? I´m working for US-owned companies all my life, and I´ll only get a bonus if the company makes an undecently high profit in general.
But immoral contracts are normal in high places, only that in the 21st century its worse than in the past 60 years it has been. The difference between a normal employee´s wages and top-management wages has never been greater since the dark ages. And that in a time where more than ever these guys drive their companies to the wall.
Tactfulness is not teached in manager seminars anymore one would believe. To live and lead by example is a trait of character that is quickly dying out. This way or another (see Stonecipher).
 
Skyguy
Posts: 467
Joined: Sat Feb 28, 2004 1:55 am

RE: UA CEO Get Nice Bonus

Sat Mar 19, 2005 12:57 am

NA: Tilton was hired under circumstances not normal to UA. The airline was bankrupt, had many operational and financial issues not to mention a slump in the air transport industry where passenger numbers fell. His brief, as determined by the Board of Directors of UA, to whom he reports and who also set salary and bonus for him, was to turn around UA and save it from imminent delinquency. His job was far different from the day-to-day ordinary administration of a normal, robust and high performing business. His business skills and experience is in turning companies around. For this, they have to give him an incentive, without which it will be challenging to keep him at UA for long. If he was not awarded cash bonus he would have been given stock options, but as the stock is currently near worthless the Board has little choice but to give him something meaningful in cash.
Tilton is not going to stay with UA till he retires, he will be there till UA recovers fully and at which event he will most likely be paid/awarded handsome stock options as a thank you for services rendered and will handover reins to a successor.
So, as you will appreciate, this is not a 'normal' situation by any standards and his task is specific, to save UA, not just guide it through one or two rough quarters.
"Those who talk, do not know, and those who know, do not talk."
 
N79969
Posts: 6605
Joined: Tue Jan 29, 2002 1:43 am

RE: UA CEO Get Nice Bonus

Sat Mar 19, 2005 1:00 am

Na,

Your point would be valid if Tilton were responsible for United being in a mess. He was not. He inherited an unstable company and stabilized it. The last I heard, UA actually had a choice of lenders who wanted to fund their bankruptcy exit.

Tilton left a comfortable job at an oil company for the stress of United. He made a bad situation less bad. If anything, his total compensation is modest for the task he faces and for what he has already accomplished.

United's board, the bankruptcy judge, creditor committees, and even the unions (although they won't ever admit it) know that they cannot get the talent needed at the top to keep United afloat at $500,000 a year.
 
richierich
Posts: 3307
Joined: Sat Nov 04, 2000 5:49 am

RE: UA CEO Get Nice Bonus

Sat Mar 19, 2005 1:18 am

Tilton is overpaid... I know the mess UA is in is not his fault but he has to be realistic. Taking a bonus while other people in the company are getting lower salaries is not a smart move. Sure, his bonus & salary is in line with competitor airlines and maybe less than similarly sized companies, but not many other companies are losing almost a billion dollars a quarter!

This type of thing does not sit well with the rank and file of UA. I'm sure there will be more pissed off employees as a result...
None shall pass!!!!
 
jacobin777
Posts: 12262
Joined: Sat Sep 11, 2004 6:29 pm

RE: UA CEO Get Nice Bonus

Sat Mar 19, 2005 1:44 am

Quoting N79969 (Reply 41):
Gigneil is 100% correct in his take on this one. Tilton's world includes opportunities with plenty more money and plenty less stress than running United. People at his level are not limited to working for airlines.

I think N79969 hit it right....even though he's getting paid within his peer group, but his peer group does not have the 1)size of UA 2) the massive problems of UA.

UA has a huge amount of parts, and has much more complexity than many other air carriers (especially the LCC's).

Tilton can EASILY get a job somewhere else where his salary, and definitely his bonus/stock options would be five to ten times more..........certainly 2-3 more..

He has a lot of expertise in other fields, he can certainly land a posh job somewhere else, yet he took over a company struggling to survive...

Is anyone here willing to have their salary/bonus cut by 50%-70%? In effect, that is what Tilton has done by taking over the job at UA......his payout would be good if UA succeeds, but there are absolutely NO guarantees about that!

The rank and file have NO choice.....if UA goes chapter 7, the rank and file
1)might not even get a job at another air carrier 2)might be unemployed for a long time 3) would most probably start from the bottom

some people say that UA is "abusing" their chapter 11....that might be true, but Tilton is doing a fine job keeping UA afloat for now. Given the liquidity crisis at DL, Indy and US Airways, UA has a good chance of surviving....i'm sure the UA employees wouldn't mind that at all.

How can one say that Tilton is "overpaid"..........???

[Edited 2005-03-18 17:48:07]
"Up the Irons!"
 
jdaniel001
Posts: 619
Joined: Wed Mar 16, 2005 2:36 pm

RE: UA CEO Get Nice Bonus

Sat Mar 19, 2005 1:45 am

Is anyone in the airline business overpaid?
We Are UNITED!
 
mymiles2go
Posts: 169
Joined: Thu Nov 06, 2003 4:00 pm

RE: UA CEO Get Nice Bonus

Sat Mar 19, 2005 1:53 am

I would like to note that out of all of the bonus money paid ($97 million) to employees this past year - Tilton represents only 2-3% of the total bonus cash distributed to employees.

I'm also curious for all those who think X could be doing a better job - would you please define who X is and exactly how much you would pay them?
 
supa7E7
Posts: 1360
Joined: Fri Aug 27, 2004 2:05 am

RE: UA CEO Get Nice Bonus

Sat Mar 19, 2005 1:55 am

I think Bono should run UA. Next to Africa, UA is has the most cries for help. Oh, but you'll need to pay him $40 million a year at least.
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