Advertisement

You will be redirected to the page you want to view in  seconds.

Trustee opposes $20M payout to American CEO

8:19 PM, May 24, 2013  |  Comments
  • Filed Under

NEW YORK - The Justice Department says a proposed $20 million severance payment for the CEO of American Airlines is too big and should be rejected.

The proposed merger of US Airways Group Inc. and American calls for American's current CEO Tom Horton to lose that job and become chairman. American has proposed severance pay of almost $20 million, along with lifetime flight benefits.

The objection filed Friday by the U.S. trustee's office says American's bankruptcy plan does not explain why he should get so much money. The objection says Horton's contract calls for him to get $6.4 million if he had left at the end of last year, and raises the question of why he should get so much more money now.

The case is in federal bankruptcy court in New York.

What's your take on the Packers Family Night change?

Retrieving results.
Watching practice is fine.(Your vote)
15%
573 votes
I'd rather watch a scrimmage.(Your vote)
23%
854 votes
I don't want to pay to watch practice.(Your vote)
27%
1013 votes
It doesn't matter to me.(Your vote)
34%
1270 votes

Catch up on the latest in our pregame show every game day.

Football fans

If you've ever answered "Who has the ball?" with "It's halftime," you might recognize The Airhead. Check out the characters in our cartoon gallery of oddball fans.

Special Reports

ORDER YOURS

Football fans

If you've ever answered "Who has the ball?" with "It's halftime," you might recognize The Airhead. Check out the characters in our cartoon gallery of oddball fans.

Special Reports