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what is share market
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Tuesday, April 30, 2013

Judge Questions $20 Million Payout to AMR CEO

A bankruptcy judge said it would be "inappropriate" to approve a $20 million exit package for the outgoing chief executive of American Airlines parent AMR Corp., calling it his only "hang-up" as he cleared the way for a merger with US Airways Group Inc.

U.S. Bankruptcy Judge Sean Lane on Wednesday granted American's request to send the merger plan to the airline's creditors for a vote, one of the final steps before the Forth Worth, Texas airline can emerge from bankruptcy proceedings and combine with US Airways.

AMR CEO Tom Horton, though, will have to wait for approval of the ...

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