Javascript Menu by Deluxe-Menu.com
Executive Investigator
Tracking and Analyzing Executive Salaries, Bonuses, and Perks
 Thursday, March 08, 2007
Northwest Airlines (OTC:NWACQ) faced some sharp criticism Wednesday from the head of the pilots union, Dave Stevens, blasted company executives for taking excessive compensation, while the airline's projected profitability was largely achieved through deep employee pay cuts. "The pilots gave concessions to save Northwest Airlines, not to enrich the Northwest executives," said Mr. Stevens. "Management used an overly pessimistic plan to extract concessions." But just how much did they receive? Well, we'll know for sure before the company exits Chapter 11, because they will be required to disclose its management compensation plan. Mr. Steenland, CEO, said in a recent interview that top executives will receive equity in the restructured airline, while Stevens said he has resisted his efforts to grant stock or options to "front-line" employees who run the day-to-day operations.

Thursday, March 08, 2007 5:49:58 AM UTC  #    Comments [0]  |  Trackback