- Banned
- #1
MEC CODE-A-PHONE UPDATE
August 4, 2005
This is Jack Stephan with a US Airways MEC update for Thursday, August 4th, with one new item.
MEC Chairman Captain Bill Pollock has written a letter to all pilots that explains the MEC's August 2nd decision to accept the profit sharing plan offered under the Company's proposed plan of reorganization. As reported on the code a phone, Captain Pollock cast the tie-breaking vote, and he supported the decision to accept the proposed profit sharing plan, based on his belief that it was in the best interests of the US Airways pilots.
The difficulty of this decision was obvious, as evidenced by the MEC's 6-6 vote. The MEC spent several hours in closed session receiving information on this matter and several hours deliberating the vote. Capt. Pollock's letter offers additional insight on the public information the MEC received during the August 1st and 2nd special meeting and he explains the two choices he and the MEC considered during the decision making process. This letter explains in detail the complicated relationship between pilot profit sharing and equity in LOA 93, the choices that were available to the MEC, and the level of risk involved with these each choice. The letter is posted on the pilots only website under "What's New" and has also been emailed to all pilots with an email address on file with ALPA.
Please remember we now have 1,574 pilots on furlough with approximately 400 pilots currently working at MDA or Jets For Jobs carriers.
Thank you for listening.
August 4, 2005
This is Jack Stephan with a US Airways MEC update for Thursday, August 4th, with one new item.
MEC Chairman Captain Bill Pollock has written a letter to all pilots that explains the MEC's August 2nd decision to accept the profit sharing plan offered under the Company's proposed plan of reorganization. As reported on the code a phone, Captain Pollock cast the tie-breaking vote, and he supported the decision to accept the proposed profit sharing plan, based on his belief that it was in the best interests of the US Airways pilots.
The difficulty of this decision was obvious, as evidenced by the MEC's 6-6 vote. The MEC spent several hours in closed session receiving information on this matter and several hours deliberating the vote. Capt. Pollock's letter offers additional insight on the public information the MEC received during the August 1st and 2nd special meeting and he explains the two choices he and the MEC considered during the decision making process. This letter explains in detail the complicated relationship between pilot profit sharing and equity in LOA 93, the choices that were available to the MEC, and the level of risk involved with these each choice. The letter is posted on the pilots only website under "What's New" and has also been emailed to all pilots with an email address on file with ALPA.
Please remember we now have 1,574 pilots on furlough with approximately 400 pilots currently working at MDA or Jets For Jobs carriers.
Thank you for listening.