Northwest CEO says no special deals for executives MINNEAPOLIS (AP) ? The chief executive of Northwest Airlines told employees that top managers have not received special perks in an attempt to reassure them as they consider a proposed package of annual cuts totaling $950 million. "There aren't any compensation surprises in store for anyone," Richard Anderson said Wednesday in a recorded message to employees that appeared to be in response to recent events at American Airlines. "We do not have funded trusts for management pension plans or any cash retention plans for the executive officers of the company." Anderson made no direct reference to American in his message, but the connection was obvious. Workers at American nearly refused to accept $1.8 billion in annual cuts after finding out that the company had approved bankruptcy-proof pensions and huge bonuses to executives. The ill-timed disclosure at American two weeks ago and the mistrust it created between workers and management eventually led to the resignation of chief executive Donald Carty. Anderson said Northwest has "acted responsibly." Northwest President Doug Steenland and Anderson, who have each worked at Northwest about a dozen years, are covered by the Supplemental Executive Retirement Plan and a cash-balance pension program for salaried employees, a Northwest spokesman said. Northwest has presented labor cost-cutting plans to all seven unions, and Anderson notified salaried employees that their pay and benefits will be cut 5 percent to 15 percent. "We will absolutely share in the significant cost reductions that we have to take," he said. "And I will personally be certain that we do so." Three union representatives sit on Northwest's board of directors, so labor has seats at the table when executive compensation and pensions are discussed. The unions have had board representation since labor groups agreed to concessions 10 years ago. Those union seats are held by Ray Benning of the Teamsters, Mike Ristow of the Air Line Pilots Association and George Kourpias of the International Association of Machinists and Aerospace Workers. *************************************************** 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.pscutt.com TnT Webdirectory: http://search.co.tt *********************************************************