Stock Bonuses at American Anger Pilots

[Omaha Steve]

http://www.wilmingtonstar.com/apps/pbcs.dll/article?AID=/20070327/ZNYT01/703270423/1002/business

Stock Bonuses at American Anger Pilots


The combined $21 million in stock payouts to five top executives at American Airlines is looming large in labor talks with pilots.

It may look like chicken feed in this era of mammoth executive pay packages, but a combined $21 million in stock payouts to five top executives at American Airlines is looming large in labor talks with pilots still angry about pay concessions made four years ago.

The stock bonuses, which are to be paid April 19 and include shares valued yesterday at about $7.5 million for Gerard J. Arpey, chief executive of American, are the subject of angry countdowns on two employee Web sites and can be precisely calculated based on the stock price at the moment on a third employee site.

“When the ship was sinking, it was, ‘We’re all in this together,’ ” said Drew Keith, director of industry analysis for the Allied Pilots Association, the union representing American’s pilots. Now, he said, the pilots are angry to see executives benefiting from American’s nascent recovery while those flying the airplanes continue to get reduced wages.

Mr. Arpey declined to be interviewed.

American faces negotiations with its two other big unions: the Association of Professional Flight Attendants in early 2008 and the Transport Workers Union, which represents mechanics and other ground workers, in November of this year.


FULL story at link.

[BleedingHeartPatriot]

1. K & R. That is high profile group of bargaining unit members. Labor is about to have it's window of

time. I am a manager of department comprised of two bargaining units, one SEIU and one AFL-CIO. I've belonged to each, and walked a picket line while an AFL-CIO member.

It's been a big change, working as a manager for the last three years, where my job could quickly be gone at the behest of a single individual, for no concrete reason and little redress. Funny thing, I've been accused of being too "labor friendly" by other managers, something my stewards would find amusing, I'm pretty sure. I just try to make sure the department runs well and that everyone gets a fair deal. :shrug:

Here's hoping that the labor leaders stay laser focused on the issues of their constituents and that their constituents stay informed and active. :toast: MKJ