This company is top heavy.
From Marketwatch: 7:45pm 09/24/01 American Chairman gives up salary (AMR) By Nicole Maestri
American Airlines (AMR) chairman Donald J. Carty said Monday that he has purchased 40,000 shares of his company's stock and will give up his salary for the remainder of the year, according to a report by the Associated Press. His moves are meant to bolster confidence in the airline, which announced last week that it would lay off at least 20,000 workers following the Sept. 11 terrorist attacks. Government aid and layoffs "are not enough to save the company," Carty said, adding that occupancy on flights remains very low. Carty, according to the AP, said American employees will have to sacrifice to help the carrier through the downturn. "With that in mind...I will forgo any personal compensation, including my salary, from now until the end of the year," Carty said. Shares of AMR, the parents company of American Airlines, closed up 2.2 percent at $18.30.
What a sacrafice on the part of the chairman!
From Yahoo, Donald Carty, 54
Chairman, Pres and Chief Exec. Office received
$4.1M in FY2000 salary and $452K in exercised options.
This guy raked in more than the President.
I think the chairman should use the $$$$ that
he "earned" over the last several years to bail out
the airline industry. |
