Sounds like a better investment than Avolar..... ;-) ----- Original Message ----- From: "Bill Hough" <psa188@juno.com> To: <AIRLINE@LISTSERV.CUNY.EDU> Sent: Thursday, March 28, 2002 08:03 Subject: SF Gate: United spent $5.7 million on Goodwin's buyout > =20 > ---------------------------------------------------------------------- > This article was sent to you by someone who found it on SF Gate. > The original article can be found on SFGate.com here: > http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2002/03/28/ f= > inancial0806EST0024.DTL > ---------------------------------------------------------------------- > Thursday, March 28, 2002 (AP) > United spent $5.7 million on Goodwin's buyout > > > > (03-28) 05:06 PST CHICAGO (AP) -- > The parent company of United Airlines spent $5.7 million last year to buy > out the remaining three years of a contract with its former chairman and > chief executive officer. > The payment was in addition to the nearly $1.5 million in salary and bon= > us > that James E. Goodwin got in 2001, according to UAL Corp.'s proxy filed > with the Securities and Exchange Commission. > Goodwin also received $13,900 for financial advisory services, $14,280 f= > or > club memberships and $22,199 for auto benefits. > Goodwin resigned in October after telling employees in a letter that the > company might "perish" unless it stopped financial losses following the > Sept. 11 terrorist attacks. > For the full year, the Elk Grove Village, Ill.-based carrier reported a > $2.1 billion loss. > Frank Larkin, a spokesman for United's machinists union, called Goodwin's > buyout package outrageous. > "We have got thousands of people still out of work with their unemployme= > nt > running out," Larkin said. > The airline laid off 20,000 of its approximately 100,000 employees after > the attacks. > Goodwin's severance package includes $204,234 for accrued but unused > vacation and $107,125 for life insurance premiums. UAL also awarded > Goodwin options for 309,600 shares. > > =20 > ---------------------------------------------------------------------- > Copyright 2002 AP