Word: piloting
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...from 56 times in 1989, according to the Journal of Economic Issues. Nowhere is this disparity starker than in the audacious pension guarantees and bonuses proposed for top executives at struggling AMR, parent of American Airlines. The carrier recently asked the unions representing its machinists, flight attendants and pilots for $9 billion in wage givebacks and other concessions over five years to keep the jets flying. Captain Mike Leone, a veteran pilot, took a 23% pay cut and has canceled plans to buy a new house. "We're just glad to have a job," says Leone...
...easy to forget, sitting cramped in coach as your pilot joins a line of 12 planes waiting for takeoff, that human beings have been flying for only 100 years. TIME Online presents an interactive tribute to the century's magnificent flying men, women and machines that have shrunk our world. See www.time.com/2003/flight/...
...Charles is the matter of how Harvard will financially support its new neighborhood. As a non-profit entity, Harvard is not compelled to make any tax payments to the municipalities in which it resides. Instead, it has taken it upon itself to make payments in lieu of taxes (PILOT) to those communities. PILOT payments are an admirable consolation prize when Harvard takes up land that would otherwise bring valuable tax revenue. And as the University increases its presence in its Allston campus, it must be willing to increase its PILOT payments as well...
...matter how much of the parcel Harvard takes off the tax rolls. In Boston, where Harvard holds more than nine times as much land—and is currently hammering out a deal to buy even more—the University pays only $1.6 million in PILOT. Much of Harvard’s holdings in Boston are still on the tax rolls, and Harvard has not yet negotiated a new deal with Boston city planners, which is why the time is right now to reopen compensation talks...
Boston Mayor Thomas M. Menino is entirely right when he calls for higher PILOT payments in these tough economic times. Similarly, city leaders in Washington D.C.—where Harvard owns the vast, tax-exempt Dumbarton Oaks in extremely affluent Georgetown—are considering the University as a potential source of revenue...