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

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  •  What happens to senior mgmt "pensions", etc... (2+ / 0-)
    Recommended by:
    kyril, middleagedhousewife

    ...

    Our nations quality of life is based on the rightousness of its people.

    by kalihikane on Mon Feb 06, 2012 at 08:15:21 PM PST

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    •  Senior management will be fine... (1+ / 0-)
      Recommended by:
      kalihikane

      They'll lose substantially, but they'll still be fine. Remember, they're paid in some part through stock. And in this case, American Airlines stock is literally zero - it's not even traded anymore. So yes, senior management is also taking some of the pain.

      •  The bitter pill that 'employees' have to accept... (1+ / 0-)
        Recommended by:
        Saint Jimmy

        ...is that a pension that they planned on using in retirement for years is now gone sometimes overnight and those 50+yrs of age will have to plan on working perhaps 10 -15yrs longer. And it's too simplistic to state...well the union demanded this so they deserve what they got. In large corporations especially manufacturing based you can have multi plant ops as well as multi white-collar facilities where plant workers are union and white-collar not. Some white collar with "stock-option based retirement pkg, some straight-up 401k w/ matching contributions, some with combined 401k/stock-option (incentivized)...usually sales, marketing, service-marketing etc., and many 401k matching were/are tied to matching with company stock value as currency. When you say senior mgmt will lose too, you forget to mention that most senior mgmt packages are protected and allowed to convert their stock options over time to cash...a "hidden tell" I learned to watch closely as a barometer of the true health of company working for but not in time to save everything. There are many other issues hidden from average worker that high fliers know of and in many cases instigate and advantage themselves to preserve the value of their own net worth without a whisper to those who worked in dedication to benefit the "Company".

        Our nations quality of life is based on the rightousness of its people.

        by kalihikane on Tue Feb 07, 2012 at 10:27:29 AM PST

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    •  Like Congress, their asses are covered no matter (0+ / 0-)

      what. But the little people, that's a different story...

      To announce that there must be no criticism of the president, or that we are to stand by the president right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public. - Theodore Roosevelt 1918

      by JVolvo on Tue Feb 07, 2012 at 11:17:04 AM PST

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