In who should have been their first announcement, but ultimately was the last, United Airlines finally stated yesterday that they will reduce the number of company officers by 18% in a further effort to cut costs.

In addition, the 36 remaining company officers will have annual compensation cut 11% over five-and-a-half years.

Of course, they announced this news just barely two days before the Mechanics are set to vote (yet again) on their wage concessions.

Nothing like waiting until the last minute to announce this.

Please try not to cry too much.  According to the Associated Press article, "The five most highly compensated UAL executives were paid an average of $1.9 million in 2001, excluding the value of stock options."