Originally Posted by
ualflyer76
Here is the statement that provided me with my salary info:
"The Associated Press calculates a total of $39.7 million in 2006 compensation for Glenn Tilton, alone. Compensation includes salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year."
I find several other things wrong with your statement, but in all honesty, I'm tired of arguing about this with you. As unionized employees, we're on the same side of this in the end. As I said in the last post, we're both working towards the success of UA, and that's just going to have to be enough. We're obviously not going to see eye to eye on some things. I'm ok with that.
And here is information that
you need to know before you get upset about his pay:
http://www.chicagotribune.com/busine...i-bizfront-hed
"Tilton, the former oil executive who led the airline through one of the largest reorganizations in U.S. history, last year received total compensation worth about $9.3 million for the year: a salary of $687,083, a bonus of $839,028, other perquisites worth $210,959 and stock and options worth $7.6 million."
"In the weeks after United emerged from bankruptcy on Feb. 1, 2006, Tilton received 822,000 stock options worth $17.9 million at the time they were granted, as well as 545,000 restricted shares then worth $20.1 million. The stock and options vest over a four-year period, which started in August.
In September, United entered into a new, five-year employment agreement with Tilton that boosted his base pay by 40 percent, to $850,000 per year, though still $100,000 less than his original base pay when he joined the carrier in 2002."
So to recap some facts:
He made 9.3 million last year, not 40 million. The stock vest over four years (and even then are only worth 40 million if the stock is at $57 or more when he sells) And he is still making less than when he joined the company.
If you wish to bash him using real numbers then that is fine. Please stop using the lies/missperceptions that are being pushed by your union.