BA Board- share options in exchange for their 15% "contribution?"
 

Rumours reach these ears of the British Airways board signing off a share option deal, exchangeable at the lowest price the shares reached in this recent period. This as a "Thank You!" for the 15% supposed pay-cut they "generously" are taking to save the company.

Only a rumour, from supposedly well-connected city sources. Is it true? Is it legal? Is it justifiable?

[ 25 October 2001: Message edited by: Alien Shores ]

Why should we be surprised? In times like this they reduce staff costs as quick as they can and reap the rewards for themselves at a later date. We saw it in ********* where a former MD made a complete dogs dinner of reorganisation and came out of it hugely enriched.

I have come to the conclusion that in negotiation we should just say "we’ll do the same; and have the same as the MD" even when he gets it completely wrong there is always a reason why he will need a large redundancy package to go away.

We then get a "wannabe" CEO/Pilot tell us about market forces. (Ive started my watch for the reaction) :D

Is it true? Don't know ...

Is it legal? Unfortunately, it probably is ...

Is it right? What do you think ...... :rolleyes: