Big $ for the big cheifs


#1

airliners.net/aviation-forum … 11/#menu26

As you can see I stole this idea from a.net. I wanted to see what you all thought about this?

Fred Smith. In 2007 according to FedEx Corporation forms, Fred Smith received $1.4 million in salary plus $5.9 million in stock grants or options plus $4.8 million in incentive compensation plus $5 million in other compensation for a total of $17.1 million. Then add in the $6.4 million in pre-tax dividend payments. And add the $25 million in pre-tax earnings from stock sales. So in 2007, Fred Smith got $48.5 million.

Dave Bronczek. In 2007, according to Fedex Corporation forms, Dave Bronczek received $910,000 in salary plus $1.4 million in stock grants or options plus $2.2 million in incentive compensation plus $3.0 million in other compensation for a total of $8.6 million. Graf “only” had $35,000 more in pre-tax dividend payments. (Plus the $6.6 million in pre-tax earnings from stock sales in 2006).

By the way, I like the last post on the a.net thread…“If you look at Tilton and his base he ONLY earned $870,000” OH MY GOD HOW THE HELL DOES HE SURVIVE!!! :open_mouth: :open_mouth:


#2

It is ridiculas how much CEO’s make at many companies. Many even have golden parachutes and BIG BONUSES even though their company is struggling.

See this article; major execs for payed bonuses for FAILURE…WHAT?:
sfgate.com/cgi-bin/article.c … 13D2SN.DTL

I think it is especially pathetic when most of the work force takes concessions and then the CEO manages to get bigger bonuses. I’m not saying that they don’t deserve big paychecks. They do work really hard, but it shouldn’t be in the millions (not including bonuses). It should be a quarter million or less.

Glenn Tilton and other airline executives should be ashamed of themselves. But like most execs, they are more concerned with their paycheck then the service they provide to their company.

Sorry for the rant, but how could you side with them. They should be taking the pay cuts before front line employees take a paycut.


#3

Just want to share that sometimes the Boss steps up and shows he’s still righteous.

Can’t really share details, but times are hard and it was necessary to reduce the workforce at a Frac. A lot of pilots were furloughed and planes were parked, but the first guy to put in his papers was the VP of the division!

That’s a class act.


#4

I think Fred Smith is a different case, as he is the founder of Fed Ex. From school project (of which he got a what, C or D?) to one of the worlds largest airlines, and a very respected company, all in less than 40 years. I know they went public etc, but he is the reason that company is in existence. With Fed Ex, I’ve met few pilots who wouldn’t fly there given the chance, and that is true even with the front line counter workers at the local Fed Ex offices.


#5

While on the surface it may have been a first class act (in other words, not to say the above didn’t happen) but is there a possibility there were monetary gains by resigning vs being laid off? I.E separation pay agreement, more stock options on resigning vs being laid off, more retirement or extended health benefits.

Past experiences that I have seen is that it benefits an employee to resign and retain some health / monetary benefits for a short term after resignation rather then flat out get laid off, though for unemployment benefits, the inverse is better (get laid off vs resigning).

Maybe he saw the handwriting on the wall and was proactive to retain some non monetary benefits.


#6

He was a part owner of the company and there was no golden parachute.

As to continuation of health insurance or other benefits, I don’t know.


#7

Very true, without Fred I would not be there right now. Yes the pilots make good $, because they looked at FX, and noticed something fishy, went out and got themselves a fat union contract, and now they live large. The current climate at FX is share holders first along with customers, employees do what ever you are told and don’t complain. Before I draw fire from everyone, yes I choose to work there, it works for my family and our schedules. Things are not always roses and ha ha’s if you get behind the counter…


#8

Really? I’ve known more pilots who’ve flown there than people on the ground,but the people on the ground I’ve known have always enjoyed it. That’s not to say that it’s perfect in anyway. Would you say over all it’s a good place to be?


#9

Yes, but if there were just a few more hours a week, and a few more $ per hour it would be awesome.