Moderators: jsumali2, richierich, ua900, PanAm_DC10, hOMSaR

 
washingtonflyer
Topic Author
Posts: 1609
Joined: Sun Sep 08, 2013 9:45 pm

Doug Parker Leaving American?

Fri Apr 29, 2016 1:22 pm

https://biz.yahoo.com/e/160429/aal8-k.html

Just hitting the morning news...
 
DLPMMM
Posts: 2280
Joined: Wed Apr 20, 2005 12:34 am

RE: Doug Parker Leaving American?

Fri Apr 29, 2016 1:28 pm

Nope, It is just a change in his employment contract.

It was announced with the Q1 earnings press conference that his compensation in the future would be all stock incentives and no base pay.
 
User avatar
delta747tlv
Posts: 108
Joined: Thu Aug 30, 2012 5:12 am

RE: Doug Parker Leaving American?

Fri Apr 29, 2016 11:53 pm

Quoting DLPMMM (Reply 1):
It was announced with the Q1 earnings press conference that his compensation in the future would be all stock incentives and no base pay.

Since the change in his compensation the stock has dropped like 40%. He may be regretting it.
 
dfwjim1
Posts: 2421
Joined: Fri Sep 09, 2011 8:46 pm

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 12:03 am

Quoting Delta747TLV (Reply 2):

I sold my AA stock at $40+ thank goodness. Why has AA stock been dropping so fast?
 
stlgph
Posts: 11213
Joined: Tue Oct 12, 2004 4:19 pm

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 12:11 am

20% gain in price of oil
if assumptions could fly, airliners.net would be the world's busiest airport
 
chrisp390
Posts: 721
Joined: Fri May 16, 2014 6:37 pm

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 12:20 am

Quoting stlgph (Reply 4):

Funny thing is though it fell as oil fell too so it seems to be a lose either way for them
 
uberflieger
Posts: 1573
Joined: Fri Jun 28, 2013 6:22 pm

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 12:28 am

Quoting dfwjim1 (Reply 3):
Why has AA stock been dropping so fast?

All airline stocks have dropped and a lot, although AA & UA lead the way.
Some of the reasons are rising oil, slower economic growth / declining consumer spending, but above all the recent forecast about declining ticket prices / yield.

Quoting chrisp390 (Reply 5):
Funny thing is though it fell as oil fell

and then rose in step with rising oil, go figure  
 
qqflyboy
Posts: 1635
Joined: Sat Oct 25, 2003 1:47 pm

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 12:38 am

Quoting Delta747TLV (Reply 2):
Since the change in his compensation the stock has dropped like 40%. He may be regretting it.

18%, not 40. Since he today reaffirmed his compensation method and took a step further by terminating his employment contract, which prevents him from any protections and additional compensation, I'd say he's completely fine with it.

The proxy filing today included a bold move that demonstrates to employees Parker is literally putting his money where his mouth is and wants to motivate everyone to help American be the best it can be. It's a type of leadership long gone from AA, and it's an incredibly welcome sign.

And Parker made it very clear in his letter to employees today that he has no plans to leave any time soon.
The views expressed are mine alone and do not necessarily reflect my employer’s views.
 
stlgph
Posts: 11213
Joined: Tue Oct 12, 2004 4:19 pm

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 2:33 am

Quoting chrisp390 (Reply 5):

all because of "sentiment" that ((insert name of air carrier here)) wasn't maximizing returns to share holders because of the lower prices of oil.

just another day of market politics.
if assumptions could fly, airliners.net would be the world's busiest airport
 
9w748capt
Posts: 1753
Joined: Sat Feb 02, 2008 10:27 am

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 3:21 am

No doubt more cuts to service and even lower standards are coming, if that's even possible. Can't wait!
 
User avatar
TWA772LR
Posts: 7245
Joined: Thu Nov 17, 2011 6:12 am

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 3:41 am

Quoting stlgph (Reply 4):

20% gain in price of oil

This makes sense. I was wondering why UA stock also fell (about 5% at 2pm Eastern time).
When wasn't America great?


The thoughts and opinions shared under this username are mine and are not influenced by my employer.
 
F9Animal
Posts: 4414
Joined: Thu Dec 16, 2004 7:13 am

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 5:44 am

Parker gets a bad rap, but.... He has really had one amazing ride. No matter how you slice it, he has really proven his ability to lead. I don't think he is all about the money either. I mean, he could have easily taken top dollar, and raked in millions more with stock. His integrity as a CEO has been pretty good as far as I am concerned. From America West, US Airways, to AA. That is a book in the making.
I Am A Different Animal!!
 
commavia
Posts: 11489
Joined: Mon Apr 25, 2005 2:30 am

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 5:52 am

Quoting qqflyboy (Reply 7):
The proxy filing today included a bold move that demonstrates to employees Parker is literally putting his money where his mouth is and wants to motivate everyone to help American be the best it can be. It's a type of leadership long gone from AA, and it's an incredibly welcome sign.

I wonder if some of the more bitter, cynical and/or angry rank-and-file will view this as favorably as you seem to.

Quoting F9Animal (Reply 11):
Parker gets a bad rap, but.... He has really had one amazing ride. No matter how you slice it, he has really proven his ability to lead. I don't think he is all about the money either. I mean, he could have easily taken top dollar, and raked in millions more with stock.

I agree with you that Parker gets a bad rap in a lot of quarters - some of it fair, much of it not. But he has made millions in stock sales - nearly $40M just in the last 14 months - so he doesn't have to worry about starving anytime soon.
 
Byrdluvs747
Posts: 2540
Joined: Thu Jul 15, 2004 5:25 am

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 10:25 am

Quoting F9Animal (Reply 11):
he has really proven his ability to lead.

I don't consider him a real leader, at least in terms of building morale, consensus, and a sense of purpose amongst labor. He is a great hatchet man, who generates profits by cutting/consolidation. That would be ok if AA was bloated and needed reform. Post bankruptcy AA has no need for a CEO who constantly has his nose in the spreadsheet. He just doesn't have the skillset to create a quality or premium airline.

Parker is a great CFO at best, and his record shows his style is not conducive to creating or running a world class airline with great people and product.
The 747: The hands who designed it were guided by god.
 
phlswaflyer
Posts: 90
Joined: Sat Oct 19, 2013 9:02 pm

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 12:58 pm

Quoting Byrdluvs747 (Reply 13):
I don't consider him a real leader, at least in terms of building morale, consensus, and a sense of purpose amongst labor. He is a great hatchet man, who generates profits by cutting/consolidation. That would be ok if AA was bloated and needed reform. Post bankruptcy AA has no need for a CEO who constantly has his nose in the spreadsheet. He just doesn't have the skillset to create a quality or premium airline.

Parker is a great CFO at best, and his record shows his style is not conducive to creating or running a world class airline with great people and product.

AMEN. I got VERY excited when I first read this....AA makes money and hence DP makes money by cutting and cutting - and delivers a lousy product. To him and SK, passengers are collateral damage. He is no where near what a leader could or should be.
 
AAplat4life
Posts: 323
Joined: Thu Jun 23, 2011 11:14 am

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 1:28 pm

Quoting Byrdluvs747 (Reply 13):
Post bankruptcy AA has no need for a CEO who constantly has his nose in the spreadsheet. He just doesn't have the skillset to create a quality or premium airline.

Parker is a great CFO at best, and his record shows his style is not conducive to creating or running a world class airline with great people and product.

Although I tend to agree with this, the question really is who would be better? My guess is that the executives at United and Delta, assuming that one is desired, have employment agreements with restrictive covenants. AA now has a pretty good hard product, but it just needs to execute better on other service issues.

Quoting phlswaflyer (Reply 14):
AMEN. I got VERY excited when I first read this....AA makes money and hence DP makes money by cutting and cutting - and delivers a lousy product. To him and SK, passengers are collateral damage. He is no where near what a leader could or should be.

I did not read the news reports to suggest the Parker is going anytime soon. AA is very profitable. The stock price is down right now with other airlines' stocks, but AA's stock also is suffering because of the debt load. The underlying valuation multiples and enterprise value are not far off from those that apply to Delta. Despite all of the talk about declining revenues impacting the stock price, the stock will go back up and Mr. Parker will make plenty of more money.

Quoting commavia (Reply 12):
I wonder if some of the more bitter, cynical and/or angry rank-and-file will view this as favorably as you seem to.

The way to make the rank-and-file less bitter, cynical and/or angry is to improve their working conditions not only in terms of compensation packages (done to a large degree), but on board product. Still a lot of work to do in the latter.
 
777ord
Posts: 681
Joined: Sat May 15, 2010 12:04 pm

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 3:00 pm

Yea, he is NOT going anywhere soon. Considering he's leading a company thru a merger and all the technicalities involved with it, he's done an amazing job.

So the stock isn't at $40/share right now, but he's not worried. He's fully vested in AA.
 
jacobin777
Posts: 12262
Joined: Sat Sep 11, 2004 6:29 pm

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 6:09 pm

Quoting Delta747TLV (Reply 2):
Quoting DLPMMM (Reply 1):
It was announced with the Q1 earnings press conference that his compensation in the future would be all stock incentives and no base pay.

Since the change in his compensation the stock has dropped like 40%. He may be regretting it.

Not with the $40+ million he made and the $20+ million Kirby has made.

What I find completely hypocritical is that ostensibly the unions have had no problems (at least nothing in the media) with Parker and Kirby making so money much yet were "crying foul" when Horton was making $16 million -who apropos, practically made history in modern aviation bankruptcy (in a good way). Not to mention was behind the blockbuster Boeing/Airbus deal saving AA billions!

Quoting qqflyboy (Reply 7):
And Parker made it very clear in his letter to employees today that he has no plans to leave any time soon.

     

Quoting F9Animal (Reply 11):
He has really had one amazing ride.

$40+ million of it...  

Quoting F9Animal (Reply 11):
he has really proven his ability to lead.

Not really.    So far he's proven he's capable of taking advantage of certain situations. AA is reaping the rewards of the prior management's hard work and efforts.

Quoting F9Animal (Reply 11):
. I don't think he is all about the money either.

Maybe he can return the $40+million back to AA.   

Quoting 777ord (Reply 16):

Yea, he is NOT going anywhere soon

     
"Up the Irons!"
 
Dreamflight767
Posts: 492
Joined: Sun Dec 28, 2008 10:43 pm

RE: Doug Parker Leaving American?

Sat Apr 30, 2016 11:55 pm

Yes he is. To run a little "non-for-profit" organization called ATC Corp.
 
F9Animal
Posts: 4414
Joined: Thu Dec 16, 2004 7:13 am

RE: Doug Parker Leaving American?

Mon May 02, 2016 12:57 am

How about this? Parker helped create an amazing airline. He is far from perfect. But!!! He doesn't get all the credit. The employees are the reason AA is what it is today. I worked for US East when the merger with America West happened. Our ramp was subcontracted out about a year prior to the merger. Parker immediately ordered the ramp work at our station to go back in house immediately. Perhaps this may be why I am pro Parker.
I Am A Different Animal!!
 
User avatar
DocLightning
Posts: 21816
Joined: Wed Nov 16, 2005 8:51 am

RE: Doug Parker Leaving American?

Mon May 02, 2016 1:04 am

Quoting qqflyboy (Reply 7):

18%, not 40. Since he today reaffirmed his compensation method and took a step further by terminating his employment contract, which prevents him from any protections and additional compensation, I'd say he's completely fine with it.

If any of us woke up tomorrow with Mr. Parker's personal bank accounts, we'd be very happy.

It's easy to behave that way when one is already swimming in an olympic-sized pool of money.
-Doc Lightning-

"The sky calls to us. If we do not destroy ourselves, we will one day venture to the stars."
-Carl Sagan

Popular Searches On Airliners.net

Top Photos of Last:   24 Hours  •  48 Hours  •  7 Days  •  30 Days  •  180 Days  •  365 Days  •  All Time

Military Aircraft Every type from fighters to helicopters from air forces around the globe

Classic Airliners Props and jets from the good old days

Flight Decks Views from inside the cockpit

Aircraft Cabins Passenger cabin shots showing seat arrangements as well as cargo aircraft interior

Cargo Aircraft Pictures of great freighter aircraft

Government Aircraft Aircraft flying government officials

Helicopters Our large helicopter section. Both military and civil versions

Blimps / Airships Everything from the Goodyear blimp to the Zeppelin

Night Photos Beautiful shots taken while the sun is below the horizon

Accidents Accident, incident and crash related photos

Air to Air Photos taken by airborne photographers of airborne aircraft

Special Paint Schemes Aircraft painted in beautiful and original liveries

Airport Overviews Airport overviews from the air or ground

Tails and Winglets Tail and Winglet closeups with beautiful airline logos