TWskyliner
Senior
- May 20, 2005
- 280
- 48
Best of luck to everyone at Delta, (even to the cocky F/O who wouldnt ride on the hotel van with the crew from an airline that didnt pay it's bills)
Delta In Bk!
- Thread starter MiAAmi
- Start date
LD3 said:
LD-
If you don't believe this stuff happens...look at Aloha filing to stay competitive with HA. One of the two intra-Hawaii carriers was in BK and the only way to compete was for AQ to join them. Don't discount the possibility of another major falling into BK.
PITbull
Veteran
- Dec 29, 2002
- 7,784
- 456
Now that US Airways BK business model has infected your airline...what do you guys plan to do?
Acquiesce?
Only plan in town for USAirways was a merger with AWA and that wasn't even using either of their own money, which none of them had.
US Airways wouldh ave been history after BK#2 if it wasn't for the gov allowing us to use the ATSB tax payer money to operate on.
This industry is upside down, and I am telling you folks to keep the employees plight in the media full blown.
That is the only leverage you will have to put pressure on your management and BOD.
There is a race to the bottom in labor costs, and your CEO is no different than any other corporate "lorenzo-type" mongrul. Make sure you pressure your senior managment to give up their millions in pay/bonuses and perks.
Give them HELL!
Acquiesce?
Only plan in town for USAirways was a merger with AWA and that wasn't even using either of their own money, which none of them had.
US Airways wouldh ave been history after BK#2 if it wasn't for the gov allowing us to use the ATSB tax payer money to operate on.
This industry is upside down, and I am telling you folks to keep the employees plight in the media full blown.
That is the only leverage you will have to put pressure on your management and BOD.
There is a race to the bottom in labor costs, and your CEO is no different than any other corporate "lorenzo-type" mongrul. Make sure you pressure your senior managment to give up their millions in pay/bonuses and perks.
Give them HELL!
robbedagain
Veteran
- Oct 13, 2003
- 11,125
- 2,676
once again you sidestepped the facts. and I am not the a$$. I know all too well you need a mgmt team but you must have one that is not going to take money out of your pockets just to line themselves up.and i have never said bad luck to mgmt team. I am only wishing the employees of DAL the very best. Just ask the employees of US Airways and UAL about losing their money, pension, and reduced benes. but yet mgt at both are or have walked away with huge bundles of golden parachutes. DAL will do the same count on it.marco90821 said:
goingboeing
Veteran
- Jan 30, 2004
- 584
- 1
LD3 said:
Very cool posting,dude! Check it out,man!
WorldTraveler
Corn Field
- Dec 5, 2003
- 21,709
- 10,662
- Banned
- #37
Neither DL or NW has said they intend to terminate their pension plans; any decision re: them is probably a year away given that it is necessary first to stabilize the operations before attempting to decide what the balance sheet can bear in the future. NW has been more direct in saying that it intends to fight to keep its pensions; doesn't mean that they won't terminate but there is far more pressure to keep them that there were under UA and US. The PBGC will be a member of the creditors committees for both DL and NW.
Based on DL's most recent SEC filings, there are no DL executives that make anywhere near the amount of money UA or US paid their executives. Further, Grinstein has said he will stay at Delta through the C11 process. NW execs do make more but there has been nothing filed that would indicate that they are making anywhere near what UA and US paid their execs. Believe it or not, but there really are people in the world who do a job because they want to irrespective of how much money they make.
Based on DL's most recent SEC filings, there are no DL executives that make anywhere near the amount of money UA or US paid their executives. Further, Grinstein has said he will stay at Delta through the C11 process. NW execs do make more but there has been nothing filed that would indicate that they are making anywhere near what UA and US paid their execs. Believe it or not, but there really are people in the world who do a job because they want to irrespective of how much money they make.
libertybell
Senior
- Jan 5, 2003
- 320
- 9
For Years we always heard that DL and its large non-union workforce was why DL was so profitable. I'm glad to see that big lie finally blown away! Management will pick the bones clean of the workforce contract out work and destroy families and homes. When its all over with the workers will say its just raining out but it wont be rain just Management standing above them releaving themselves.
WorldTraveler said:
WT: While you are correct that neither has said that their pensions are gonna be terminated and turned over to the PBGC, my prediction is that both will do so.
Today, the PBGC said that DL is underfunded by $10 billion and that NW is underfunded by $6 billion. The PBGC reminded both airlines in the media today that bankruptcy doesn't excuse pension contribution obligations.
http://biz.yahoo.com/cbsmb/050915/575c5ab7...69355.html?.v=1
http://www.marketwatch.com/news/yhoo/story...BD92F312BEBB%7D
http://biz.yahoo.com/ap/050915/airlines_pensions.html?.v=2
Today, NW will likely default on a $65 million pension contribution, and I suspect that DL isn't too far behind. Unless Congress steps up with meaningful pension underfunding reform by next month, I predict that both pension plans are goners.
