Northwest Airlines CEO to receive $947,417 ANNUAL pension

[Bluebear]

And that is only one of his THREE pensions he has authorized for his 13 years service at Northwest. Per the flight attendant contract, $947,417 would fund 90 flight attendant pensions with the same years of service ($10,530 annually per retire flight attendant).

Under Northwest's current contract proposal, pensions will be FROZEN at current levels or discarded altogether.

Airline executives have been feeding at the corporate trough long enough. "9/11 changed everything" is not acceptable anymore while executives pen lucrative salary allocations, golden parachutes and fat retirement plans for themselves and blame labor for their woes.

SUPPORT UNION LABOR!

[Warren Stupidity]

1. hmmm....

And do you suppose that his pension along with other top executive pensions are in the huge employee pension fund that will be looted as soon as northwest runs itself through bankruptcy? I suppose that they are not, but I could be wrong.


When are we going to wake up?

[Bluebear]

4. "Sheltered from the storm" I am certain. n/t

[Bluebear]

7. kick

[Jacobin]

11. Execs all get privately funded pensions

The Enron guys did.

Having risky pensions is only for 'little people' doncha know?

I'm sick of these pigs feeding at the trough.

[RobertSeattle]

2. Got Link?

I'd like to send it to a pompous right wing talk show host (I know... redundant) who says Northwest has cut every corner imaginable.

[Bluebear]

3. Certainly!

http://www.pfaa.com/News/ann/ExComp/Phantom.asp
http://www.pfaa.com/News/ann/ExComp/ExPen.asp

[Bozita]

5. Exactly what is the meaning of "enough" to these folks?

Is "too much" a part of their lexicon?

[Bluebear]

6. More, more, more, more, more

P.S. Our current secretary of Labor, the anti-labor Elaine Chao once served on MWA's board of directors.

[DemoTex]

8. Remember CEO Dave Siegel at US Airways?

He made over $10-million the year that he put the airline into bankruptcy and terminated the US Airway's pilots' pension plan (2003). This was reported in 2004 by the Washington Post in an article on the 100 highest paid Washington area executives. Three other US Airways executives were also on that list.

[Nikki Stone 1]

9. This is why we need unions with teeth

:kick:

[Proud_Lefty]

10. Shhhh!

If Bush hears about this, he might take pity and give them more tax cuts.