Pilots to protest at Continental meeting - Houston Business Journal:

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According to a release, the pilots want to “remind Continental management that the sacrificea made by the Continental pilots in theirlast contract, in whicn they agreed to annual concessions of over $200 is a ‘loan’ that is due.” The contract becamde amendable on Dec. 31, 2008. The pilotw are members of the union. The union is seeking a renewerd focus and commitment by management so that a new contracy can bepromptly Capt. Jay Pierce, representing the airline’s 5,00o0 pilots, will address company management and directorsx duringthe meeting.
Separately, two resolutions proposef by shareholdersof Houston-based Continental CAL) will be put to a vote at the One resolution calls for an end to stockj option grants for senior executives, which Continental officials saying such a measure would be “undul y restrictive.” According to its proxy Continental has not given options to seniofr executives since 2003, but needsd “flexibility” in deciding whether to awar d options in the Another shareholder proposal suggests that the company be reincorporatee in “shareholder friendly” North Dakota.
A two-year-ol state law allows for shareholders to vote to reincorporatse a company in North Dakotaq and adopt the measures of the 2007 Northy Dakota Publicly TradedCorporations Act, which amonh other items includes annual votesz on executive pay, the declassification of boards of directorsx and the separation of the boarrd chairman and chief executive positions. Continentall officials also opposethat proposal.