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.

posted by Quiddity at 4/19/2003 09:20:00 AM