Continental Says Top Execs Won't Take Pay

[Nugget]

NEW YORK (Reuters) - Continental Airlines Inc. (NYSE:CAL - news) said on Wednesday Chairman and Chief Executive Gordon Bethune and President Larry Kellner have decided not to take any compensation for the rest of the year.

"Despite the fact that we don't believe salary cuts are right for our fellow co-workers, we think this is an appropriate gesture for our friends who were furloughed, these funds will be contributed to the company's operations."
-- Gordon Bethune

Continental said Bethune made about $5.5 million and Kellner made about $3.7 million in 2000.

Continental said last week it would lay off about 12,000 workers and cut its schedule to stave off slumping air traffic after the attacks on the United States.

http://biz.yahoo.com/rb/010926/busin...ntal_dc_1.html


<font size=-1>[ This Message was edited by: Nugget on 2001-09-26 15:20 ]</font>

[Nugget]

NEW YORK (Reuters) - Continental Airlines Inc. (NYSE:CAL - news) said on Wednesday Chairman and Chief Executive Gordon Bethune and President Larry Kellner have decided not to take any compensation for the rest of the year.

"Despite the fact that we don't believe salary cuts are right for our fellow co-workers, we think this is an appropriate gesture for our friends who were furloughed, these funds will be contributed to the company's operations."
-- Gordon Bethune

Continental said Bethune made about $5.5 million and Kellner made about $3.7 million in 2000.

Continental said last week it would lay off about 12,000 workers and cut its schedule to stave off slumping air traffic after the attacks on the United States.

http://biz.yahoo.com/rb/010926/busin...ntal_dc_1.html


<font size=-1>[ This Message was edited by: Nugget on 2001-09-26 15:20 ]</font>

[dbaker]

Their compensation is based on company performance and revenue, so this isn't nearly as big a deal as it seems to be when you compare their forefited compensation with what they received in the past.

[dbaker]

Their compensation is based on company performance and revenue, so this isn't nearly as big a deal as it seems to be when you compare their forefited compensation with what they received in the past.