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Continental Board Agrees to Lower Pay

Stock quotes in this article: CAL  

Updated from 12:54 p.m. EST

Continental Airlines (CAL Quote) Tuesday announced initiatives from its board and management aimed at assisting cost-cuts at the nation's fifth-largest airline.

Continental said its board has agreed to cut base retainer fee and meeting fees by 30%, beginning Feb. 28. It will also forgo its entire stock option grant for 2005.

The board's audit committee, however, will see no change in its fees because of increased responsibilities resulting from the Sarbanes-Oxley act. ...

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