"Those executives who have made the personal commitment to remain with American during this financial crisis, myself included, are not here solely for monetary reasons and we have all agreed to give up these retention payments, in order to give our employees confidence in management's on-going commitment to shared sacrifice," he said. However, the company said it would keep the pension agreements in place; that could still prove to be an issue with the labor unions.
They're asking all the workers to take cuts, but they've still got "golden parachutes"? Whoopsie, that is bad!