• Subscribe
  • Magazines
  • Advertise
  • Contact Us
  • Podcasts
  • Buyers Guide
  • GSE Expo
    1. Home

    Troubles to Cloud United Meeting as Unions Plan Protests

    May 10, 2007
    Unions representing pilots and flight attendants asked members who own UAL stock to protest executive compensation packages for chief executive Glenn Tilton and other top managers by withholding authority for the election of 10 nominees to the UAL board.

    Source The Denver Post

    As United Airlines parent UAL Corp. plans for its first shareholders meeting in five years on Thursday, volatile remnants of its troubles from bankruptcy remain. Unions plan to protest the meeting in Chicago.

    The shareholders meeting marks United's return to the regular practices of a publicly traded company after getting out of bankruptcy last year.

    But United's problems have not all cleared up since it exited Chapter 11. Workers took steep pay cuts and lost their United pension plans during bankruptcy.

    Unions representing pilots and flight attendants asked members who own UAL stock to protest executive compensation packages for chief executive Glenn Tilton and other top managers by withholding authority for the election of 10 nominees to the UAL board.

    An Aircraft Mechanics Fraternal Association local used shares it owns to withhold support. The unions also asked members to come to Chicago to protest at the annual meeting.

    Tilton received $23.8 million in total compensation last year, including $687,083 in base salary, a stock grant valued at $11.7 million, options valued at $10.4 million, $839,028 in incentive pay and $210,959 in other pay.

    At the Aurora headquarters of the Aircraft Mechanics Fraternal Association, the union's national treasurer, Doug Butz, said, "We all gave up lots of pay and benefits, and they all load their pockets."

    United hasn't had an annual meeting since 2002, after which it entered a bankruptcy that ended in February 2006. The meeting will be held Thursday in Chicago at the Field Museum.

    The Air Line Pilots Association at United has been doing informational picketing at airports in Washington and San Francisco in the past two weeks. United unions, along with others, also plan to demonstrate at an annual labor "Transportation Day of Action" planned for May 17 in Washington.

    News stories provided by third parties are not edited by "Site Publication" staff. For suggestions and comments, please click the Contact link at the bottom of this page.