Airline CEO calls for union cuts, pension relief; earned $3.65M in '04

[Bluebear]

June 3, 2005

MACKINAC ISLAND -- Northwest Airlines Inc. can avoid Chapter 11 bankruptcy if it gets $800 million more in union concessions and federal help in restructuring pension costs, Doug Steenland, Northwest president and CEO, told the Detroit Regional Chamber's annual policy conference Thursday.

When I asked Steenland what his deadline is to achieve those savings to avoid bankruptcy, he said, "I wouldn't use the word 'deadline.' Our goal is to get these things done by the end of the year."

Steenland painted a grim picture of the pressures facing larger traditional air carriers, from high fuel prices to fierce competition from low-cost carriers that now make up 30% of the U.S. market.

"All U.S. carriers must essentially be low-cost carriers," he said.
http://www.freep.com/money/business/walsh3e_20050603.htm
=====
May 27, 2005
NWA's CEO Steenland made $3.65 million in 2004

Northwest Airlines Corp. CEO Doug Steenland earned about $3.65 million in total compensation in 2004, according to a preliminary proxy filed with the Securities and Exchange Commission.

Steenland took the CEO post for the Eagan-based airline in October after Richard Anderson left to take an executive job at UnitedHealth Group Inc.

Steenland earned a base salary of $472,649, $2.96 million in restricted stock awards and more than $200,000 in other compensation in 2004.

http://twincities.bizjournals.com/twincities/stories/2005/05/23/daily55.html

[nadinbrzezinski]

1. Unitred Airlines

here we go, now the rest want the same

[KitchenWitch]

2. GRRRR

I HATE CEOs!

[chicagojoe]

3. The ONLY reason I don't say let 'em drown

is my compassion for the workers.

[Bark Bark Bark]

5. Thanks

I'm a baggage handler for United. Haven't been told the "details" of our own little agreement yet--I guess our union reps are busy trying to word it in such a fashion that they don't get beaten--but at least we have to vote on it.

Over the past two years, we've been hit for approximately 25% in wage cuts; our management not only rescinded their "share-the-suffering" 5% cut shortly after implementing it, they gave themselves bonuses to compensate.

Knowing that the "agreement" is bound to include ANOTHER round of pay cuts just pisses us off a little more each day. So do the LTTEs and the occasional BBB message--even here--from selfish pricks who, only concerned about the price of their plane ticket, insist that it's all OUR fault because our union has asked for too much to begin with. (Again: 25% in pay cuts over two years, more on the way, our pensions threatened, all our benefits--given to us by management IN LIEU OF wages--threatened. Yeah: we're screwing everyone over big-time. Rollin' in it.)

I am SO ready to strike. We're at the point where most of us don't give a damn anymore. I don't have a lot of the liabilities many of my co-workers do, and I'm almost down to living paycheck-to-paycheck myself; I can't imagine what they're going through...

It can't keep going on like this.

[KT2000]

7. Is anyone calling

for an audit of how the pension funds have been handled? I remember years ago corporations were given access to those funds. The dot com craze was pouring money into pension funds and they wanted to use that money.

[anitar1]

4. Anyone shopping around for a buggy and 2 horses?

At the rate our transportation problems are mounting ,I wonder. Amtrak to be jettisioned, high fuel prices with no end in sight. Even Greyhound has cut their service in half.Is this where the neocons want us?

[izzie]

6. May be 'join the Army and see the world' will work?

I love it when the govt. cuts services to people because we are said to have no money but then helps out air lines where the CEO gets really high pay because they are running the Company well. And of course out the back door Bush gives more money to Church groups. Oh well I think Bush left all his businesses in the toilet but the one he only owned a small percent of, left Tex. in the hole and so why not the country?

[oscar111]

8. "EARNED 3 million"??? No, GOT millions, did not earn that

reframe the debate.

dont say they earned it.

tell the truth. They GOT it. Grabbed it.

Pls dont concede the battle to the RW by copying their choice of frame.

RW loves to pretend they earn millions as CEO's .

Just say 'GOT' where the press releases all say 'EARNED'.

[oscar111]

9. Also say BOSS, not employer.

and say something like

SELLER , not developer.

perhaps some better term can be found for SELLER.

[oscar111]

10. NATIONALIZE airlines: we did that with trains

many countries have national airlines.

we should too.

At one time England did.. '45, when Labour took over.

we did it with trains.

This idea is not unamerican if we have done it with trains, and England has done it to planes.

But do it right of course. Amtrack shows GOP can do it pinchpenny and wrong in many ways.

But we should not let amtrack's errors stop the generaly superior idea of nationalizing.

[Bluebear]

11. You're absolutely right, I just quoted the headline