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Flight Attendants Indict American Airlines Top Execs With ‘Moral
Contempt’ By Jim Douglas |
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April 24, 2011 - American Airlines Flight Attendants declared the company’s top five executives are guilty in the court of public opinion of “managerial incompetence” and acts of “moral contempt,” stemming from a 14-count indictment brought by the Association of Professional Flight Attendants (APFA). The Flight Attendants’ verdict was swift and overwhelming.
Americans’ five top executives were guilty for
repeatedly granting themselves multi-million-dollar
bonuses while the airline records another year of dismal
earnings, a charge made even more despicable by the huge
financial sacrifices of employees to keep the airline
afloat. American is the only major airline still losing money while all other major carriers have recovered and were operating profitably last year. The indictments resulted from 14 charges subjected to online voting by Flight Attendants. |
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AA Flight Attendants held picketing events at airports across
the country to draw attention to top management’s reprehensible
acts and to protest yet another round of multi-million-dollar
executive bonuses.
“Since assuming office the Executives, along with their cohorts
on the AMR Board of
“In 2010, in response to the fact that over the past few years
AMR’s stock price had dropped by more than 50 percent, they
nearly doubled the number of shares the Executives could receive
in annual performance bonuses. The Executives thereby escaped
the destruction of value they visited upon the airline’s
shareholders.”
In reporting the guilty vote, APFA noted that “by increasing the
number of targeted shares in the Performance Share Plan (PSP)
and devising this fail-proof payout arrangement, the Executives
have accomplished what few in corporate America would dream
possible – pay regardless of performance. “ |