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View Diary: Bwahahahahahaha! American Airlines and Bain Capital. (282 comments)

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  •  The cash part of the executive comp (2+ / 0-)
    Recommended by:
    johnny wurster, bbrown8370

    were peanuts compared to the unfunded pension liabilities.

    "let's talk about that"

    by VClib on Mon Feb 06, 2012 at 07:15:47 PM PST

    [ Parent ]

    •  Why consider only the cash part? (7+ / 0-)

      Pension obligations should be a higher priority than executive compensation contracts incurred after the pension obligations. Why can a company "shed" (ye gods, I fucking hate that word) pension obligations, but still be obligated to pay out the bucks and perks to the folks whose job it was to make sure the pensions got funded?

      "These are not candidates. These are the empty stand-ins for lobbyists' policies to be legislated later." - Chimpy, 9/24/10

      by NWTerriD on Tue Feb 07, 2012 at 12:03:55 AM PST

      [ Parent ]

      •  NWT - my reference was to the equity portion (0+ / 0-)

        Most senior executive comp comes in the form of restricted stock grants or stock options. Except in very unusual circumstances a company can't make pension payments in stock. The other perks like insurance and car allowances, and using the corporate jet, are small in comparison to the salary and cash bonus amounts. Even if you threw all the senior executive compensation in the pot, it was still a peanut compared to the unfunded pension liabilities of American.

        "let's talk about that"

        by VClib on Tue Feb 07, 2012 at 06:29:10 AM PST

        [ Parent ]

      •  Well, we could consider the stock part, but... (1+ / 0-)
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        That stock is now worthless, so um, yeah...

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