Pilots to protest at Continental meeting - Houston Business Journal:

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According to a the pilots wantto “remind Continental management that the sacrifices made by the Continental pilots in theifr last contract, in which they agreed to annual concessions of over $200 is a ‘loan’ that is due.” The contracy became amendable on Dec. 31, 2008. The pilots are membersx of the union. The unionb is seeking a renewed focus and commitmenty by management so that a new contract can bepromptlyy negotiated. Capt. Jay Pierce, representinvg the airline’s 5,000 pilots, will address company managemenft and directors duringthe meeting.
Separately, two resolutionw proposed by shareholdersof Houston-based Continental (NYSE: CAL) will be put to a vote at the One resolution calls for an end to stock optio n grants for senior executives, which Continental officials saying such a measure would be “undulh restrictive.” According to its proxy Continental has not given optiona to senior executives since 2003, but needs in deciding whether to award options in the Another shareholder proposal suggests that the company be reincorporated in “shareholder North Dakota.
A two-year-old state law allowsd for shareholders to vote to reincorporate a company in North Dakota and adopt the measurees of the 2007 North Dakota Publiclyy TradedCorporations Act, which amongb other items includes annual votese on executive pay, the declassification of boarde of directors and the separationj of the board chairmam and chief executive positions. Continental officials also opposeethat proposal.