<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Ken hAAmer:
So we have Don Carty of AA taking a 33% pay cut (from ~USD$600K to ~USD$400K), foregoing bonuses, and asking his board to substantially reduce the overall compensation of all senior AA execs, all in the interest of avoiding bankruptcy for AA
And we have Robert Milton demanding a "no firing" clause, after AC is in backruptcy proceedings.
What's wrong with this picture?</font>
Ken read the article again;it was GE who demanded no management change as a term of the loan--think about it;would you lend money to people who had no hands on experience running an airline.You guys are too biased and need to step back a bit and think about the business side of things instead of being disgruntled consumers,which you have a right to be.Shareholders decide on management,who stays etc. and consumers use the service or don't--their choice in either case.
Separate the management issue with the service issue---they are different although each issue defines the company and its products.
Also read the article from last week when it was revealed Milton turned down a guaranteed five year contract extension from the board earlier in the year in order to see the company through the problems by example.Does that sound like greed to you?
[This message has been edited by parnel (edited 04-08-2003).]