Two week delay
American Airlines is on the ropes. Management convinces the unions to give up 15% (or more) in pay. Then comes the news that top executives secured for themselves generous bonuses and a stronger pension plan. The unions are outraged and the agreements are in jeopardy
. Management has now retreated (a bit, they gave up the bonuses but are keeping the pension). But did you know this? (from Congressman James Oberstar's [D - Minn] letter
It is especially disturbing that the new executive benefits wefe not disclosed until the employees had agreed to reductions in their pay and benefits, and that the non-disclosure was made possible by the company obtaining a two week delay in its obligation to report the new ex:ecutive benefits to the SEC on April 1.