United Sued for Smisek Bonus
01-12-2018, 07:08 AM
#1
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United Sued for Smisek Bonus
Someone is trying to excercise their fiduciary duty...
After United signed a non-prosecution agreement to protect Smisek (and paid 2 1/4 million fine as well), it insured Smisek would keep his $28 mill bonus.
The UAboard agreed to it (Insler apparently as well).
And how much $$ is our bonus being held back from the contract before,the last?
https://www.nytimes.com/2017/06/09/b...l-lawsuit.html
After United signed a non-prosecution agreement to protect Smisek (and paid 2 1/4 million fine as well), it insured Smisek would keep his $28 mill bonus.
The UAboard agreed to it (Insler apparently as well).
And how much $$ is our bonus being held back from the contract before,the last?
https://www.nytimes.com/2017/06/09/b...l-lawsuit.html
01-12-2018, 07:38 AM
#2
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A couple observations:
- Nowhere in that article does it mention how the UAL board voted, including the ALPA rep or any other possible dissenters
- Insler was not MEC Chair, nor on the UAL board, in 2015 when this all went down. That's sorta a key point, no?
So no, it is not apparent.
- Insler was not MEC Chair, nor on the UAL board, in 2015 when this all went down. That's sorta a key point, no?
01-12-2018, 08:52 AM
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I believe this is in incorrect. I’m sure I’ll be corrected by someone if I’m wrong. My understanding is both the pilot and mechanic board members are full voting members of the BOD with the only exception being on labor issues.
01-12-2018, 02:12 PM
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The NPA was presented to the board in June 2016. Not a peep out of the union about it or why the company would not claw back the bonus to Smisek.....
United explained that it would harm the company to give the board “unfettered discretion to recoup compensation” in cases involving wrongdoing. “Where such discretion is out of step with industry norms,” the letter said, it would “make it difficult for United to recruit and retain top talent, particularly at the senior management level.”
Yet our bonus still dangles in the wind for years.....
if it boars you, don't read it.
01-13-2018, 06:11 AM
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The NPA was presented to the board in June 2016. Not a peep out of the union about it or why the company would not claw back the bonus to Smisek.....
United explained that it would harm the company to give the board “unfettered discretion to recoup compensation” in cases involving wrongdoing. “Where such discretion is out of step with industry norms,” the letter said, it would “make it difficult for United to recruit and retain top talent, particularly at the senior management level.”
Yet our bonus still dangles in the wind for years.....
It's news to me, as I suspect most others on this board. I wish there was an update, like for example the union telling the company to eat our bonus liability and pay us, before we consider another contract.
if it boars you, don't read it.
United explained that it would harm the company to give the board “unfettered discretion to recoup compensation” in cases involving wrongdoing. “Where such discretion is out of step with industry norms,” the letter said, it would “make it difficult for United to recruit and retain top talent, particularly at the senior management level.”
Yet our bonus still dangles in the wind for years.....
It's news to me, as I suspect most others on this board. I wish there was an update, like for example the union telling the company to eat our bonus liability and pay us, before we consider another contract.
if it boars you, don't read it.
By the way. The last time I got “boared” I shot that curly haired, long tusked porker in the face.
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