Midwest Pay Cuts

Tallgrl98 · 07-03-2008, 09:05 AM

The link is to an article discussing the 40% pay cut that the CEO of Midwest will be taking off of his salary. His salary was $400K and his bonuses were $450K last year - I'm sure that the 40% pay reduction will not impact his bonus. Last year he made over $10MM with the sale of Midwest.

This really gets interesting when they start rationalizing the 40-60% pay cut they are requesting from pilots. They state that the Midwest pilots are over paid, but the truth is, they are not comparing apples - to - apples.

Anyway, here is the link:

JS Online: CEO to take 40% cut

Brenda · 07-03-2008, 11:04 AM

Hey, at least you see him taking a pay cut! You don't see Bedford with Republic taking one. Instead he's just gonna let go of 500 pilots!

Tallgrl98 · 07-03-2008, 12:04 PM

Brenda - totally agree with you! I guess I feel like a lot of these guys could get paid nothing in salary, but make out like crazy on the bonuses and stock options. Oh well! He is setting a good precedent for the other CEOs - that's very cool.

roz · 07-03-2008, 02:52 PM

Well, stock options are not worth much these days--especially with talk of Chapter 11.

07-03-2008, 09:05 AM	#1 (permalink)
Tallgrl98 Jetgirls Member Join Date: Apr 2007 Location: Chicago, IL Posts: 119 Recipes: Thanks: 0 Thanked 0 Times in 0 Posts	Midwest Pay Cuts The link is to an article discussing the 40% pay cut that the CEO of Midwest will be taking off of his salary. His salary was $400K and his bonuses were $450K last year - I'm sure that the 40% pay reduction will not impact his bonus. Last year he made over $10MM with the sale of Midwest. This really gets interesting when they start rationalizing the 40-60% pay cut they are requesting from pilots. They state that the Midwest pilots are over paid, but the truth is, they are not comparing apples - to - apples. Anyway, here is the link: JS Online: CEO to take 40% cut

07-03-2008, 11:04 AM	#2 (permalink)
Brenda Jetgirls Plus Member Join Date: Feb 2005 Location: EVV Posts: 1,209 Recipes: Thanks: 11 Thanked 4 Times in 4 Posts	Re: Midwest Pay Cuts Hey, at least you see him taking a pay cut! You don't see Bedford with Republic taking one. Instead he's just gonna let go of 500 pilots! __________________ - Brenda, wife to Eric, Capt for Shuttle America.

07-03-2008, 12:04 PM	#3 (permalink)
Tallgrl98 Jetgirls Member Join Date: Apr 2007 Location: Chicago, IL Posts: 119 Recipes: Thanks: 0 Thanked 0 Times in 0 Posts	Re: Midwest Pay Cuts Brenda - totally agree with you! I guess I feel like a lot of these guys could get paid nothing in salary, but make out like crazy on the bonuses and stock options. Oh well! He is setting a good precedent for the other CEOs - that's very cool.

07-03-2008, 02:52 PM	#4 (permalink)
roz Jetgirls Ol' School Member Join Date: Oct 2003 Location: Philly Posts: 2,252 Recipes: Thanks: 0 Thanked 6 Times in 6 Posts	Re: Midwest Pay Cuts Well, stock options are not worth much these days--especially with talk of Chapter 11.

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