May 29, 2007
Working Families to Rally against Executive Greed
MINNEAPOLIS, Minn. – Minnesota working families will gather en masse tomorrow from noon to 2:00 p.m. at the Minnesota State Capitol to protest excessive executive compensation and the growing pay disparity between company executives and employees.
Earlier this month, a bankruptcy court approved Minnesota-based Northwest Airlines' plan to award CEO Doug Steenland with a $26.6 million bonus in stock and options upon the company’s exit from bankruptcy. Steenland will begin receiving his staggering bonus at the same time tens of thousands of Northwest Airlines (NWA) employees and their families are coping with 40 percent pay cuts and increased health care costs; concessions that are scheduled to continue until 2011.
"Northwest pilots are angry that their 40 percent pay cuts are being turned into compensation increases for Northwest's senior executives," said Capt. Dave Stevens, chairman of the Northwest Airlines unit of the Air Line Pilots Association (ALPA). "This egregious act is not only bad for NWA employees, but will have a counterproductive long-term effect on Northwest Airlines and unfortunately its customers."
Along with workers from across Minnesota, members from dozens of unions and government representatives have been invited to join the ALPA-sponsored rally. AFA-CWA (Association of Flight Attendants-CWA) will be sharing the podium with ALPA and will help encourage Minnesota workers to speak up and alert Minnesota and National legislators that Enough is Enough!
"Across America families are working more, going home with less in their pockets and are paying out more while mediocre executives are rewarded for running companies into bankruptcy," said NWA AFA-CWA Vice President Andy Wisbacher. "But make no mistake; we may be fatigued, stressed and disillusioned, but we are the majority and will win this fight against injustice in the workplace."
Following a noon lunch, those in attendance will hear from a distinguished lineup of speakers including U.S. Representative Keith Ellison, MN State Senator Jim Carlson, ALPA President John Prater, NWA ALPA Chairman Dave Stevens, AFA-CWA President Pat Friend, NWA AFA-CWA Vice President Andy Wisbacher, and MN AFL-CIO President Ray Waldron.
For more information about the ALPA or the AFA-CWA, please visit their respective websites: www.nwaalpa.org and www.nwaafa.org
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|SOURCE: ALPA and AFA
CONTACTS: Will Holman (ALPA), 612-840-7749, Andy Wisbacher (AFA-CWA), 952-241-4102