United CEO takes another cut in pay CHICAGO (AP) =97 UAL Corp. CEO Glenn F. Tilton will be taking another salary= =20 cut due to bankrupt United Airlines' continued financial woes, the company= =20 announced Friday. In December, Tilton reduced his and the annual salaries=20 of 36 other executive officers by 11%. The action was taken at a time when= =20 the airline announced the layoff of about 350 pilots and other cost cutting= =20 measures. The airline said Tilton's salary will be reduced by an additional= =20 14%, effective April 1. The net effect is a 25% reduction in his annual=20 salary, or a reduction of $237,500, to $712,500. "Given the new financial=20 challenges to United and this industry created by the current external=20 environment, I believe this is an appropriate step," said Tilton, who=20 became chairman and president of UAL in September 2002. Tilton noted that=20 everyone at United is contributing significantly and proportionately to the= =20 airline's financial recovery, and additional sacrifice may become=20 necessary. United's more than 8,000 pilots will vote next month on whether= =20 to ratify an agreement slashing their pay by 30% and making further cuts=20 through changed work rules. Elk Grove Village-based United has set a May 1= =20 deadline for voiding labor contracts in bankruptcy court if agreements=20 aren't reached with its unions, including the machinists and the flight=20 attendants union. *************************************************** The owner of Roger's Trinbago Site/TnTisland.com Roj (Roger James) escape email mailto:ejames@xxxxxxxxx Trinbago site: www.tntisland.com Carib Brass Ctn site www.tntisland.com/caribbeanbrassconnection/ Steel Expressions www.mts.net/~ejames/se/ Site of the Week: http://www.carstt.com TnT Webdirectory: http://search.co.tt *********************************************************