American Airlines appears to have sidestepped bankruptcy, at least for now. Tentative agreement on $1.6-Billion worth of concessions has been reached with unions. And the Chairman of AMR Corporation, the parent company, will take a one-third pay cut. Donald Carty says he also will forgo a bonus for the third straight year. Employees have more access to stock options and profit sharing progrmas in return for their concessions.
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