No. The truth in good ol' black and white is:
- that the old US was hours away from liquidation. - further, without any prospects other than HP US would have liquidated. Nobody wanted you then but for a somewhat smarmy CEO with a dream.
- the idea to save US was not brought to HP by wallstreet (shareholders) that I know of...even if that were to have happened the money was with HP.
"the US unions (namely AFA) unilaterally diluting the F/A profit sharing pool with the west is the reason there is FA profit sharing out west. Period."
And this, begrudgingly out of the goodness of their hearts. That some still resent this and cannot come to terms with it is really proof positive that the ugly girl really is, ugly. I think it is funny that so many want the treatment of LUV, but can't even muster that much on an interbase level. The pool was "diluted" someone with a healthier perspective might want to see it as sharing with their new colleagues.
LOL..Oh man I just love you revisionist historians. Just go to the August 5 Crew News and pull up the subject titled "FA sacrifices" and take notes. You'll see Scott Kirby set the record straight on one of your pitiful sounding, bitter, uninformed colleagues--she sounds like you btw--on this whole who rescued who bs. And then after you've seen it come back on here and apologize. The fact is, US West has pulled down at least 24% of your unprofitable flying, and as a result you're now doing a lot of the flying that was historically east flying because you had nowhere else to go. Why? I suppose what you were offering out there wasn't cutting the mustard and losing money! That's a fact! And do you deserve a cut of the profit sharing that was negotiated on our backs via our BK1 and BK2? Hell No! But it is what is is. With the help of our feckless negotiators, coupled with the entitled and predatory nature of your colleagues out west our profit sharing has been diluted, and instead of you giving thanks you haughtily assert an entitlement attitude because you think you saved us. Child please! Where do you think you'd be without the merger? Do you think you'd have a job? When the assets that US would bring to a merger today are discussed they don't include Phoenix! However, they do include CLT, DCA, PHL and the Northeast Shuttle, all USEast assets buddy, and thank your God that management recognized this and allowed themselves to be acquired With US Airways by Wall Street! HP couldn't pay attention let alone pay for the assets of US. Now you go ahead and enjoy the fruits of of labor. Our negotiators lets us down on the profit sharing tip, but you go ahead and enjoy it anyway. But don't you dare think that you or the FORMER HP is responsible for the bounty of which you'll be sharing in you ingrate! And the bulk of the profits being enjoyed by US comes from the east side! And had there not been a US Airways Doug Parker might have found himself in a similar predicament that as he is now with no one to dance with. If DP eventually finds a dance partner it'll be because of the assets that came with the US-HP merger! Get a grip!
btw, your point expresses afterthefact financials and separates the companies west & east. What I inferred is that the reason there is profit sharing at all is because hp became involved with us...without hp the only profit sharing you'd have if from an unemployment form. HP would've gone on. dp would've kept looking for another deal. HP did not have the drama and bitter reputation of the old us. That was my point.
Third quarter profit report
- Thread starter JayBrian
- Start date
When/if you finally commit yourself to non-rambling, please post something that actually makes sense.
Bruce Lakefield USAirways merger Project Barbell Seabury Group
http://www.washingtonpost.com/wp-dyn/content/article/2005/05/19/AR2005051901972.html
Executives boasted that the combined airline would be one of the industry's strongest with about $10 billion in annual revenue and $2 billion in cash.
Most of the financing came from outside investors. Investment firms including ACE Aviation Holdings, parent company of Air Canada; Boston-based PAR Investment Partners; Virginia-based Peninsula Investment Partners; and Eastshore Aviation Holdings, which is owned by Air Wisconsin Airlines Corp. and shareholders, contributed $350 million. European aircraft manufacturer Airbus invested $250 million in exchange for the airline becoming a launch customer of the upcoming Airbus A350.
http://www.forbes.com/forbes/2001/0611/105.html
America's Worst Airline
GUESS WHO?
PHX LAS SHARES/QIK Mesa
BoeingBoy
Veteran
- Nov 9, 2003
- 16,512
- 5,865
I like your links. The first mentions Lakefield 3 times, 2 giving his position before and after the merger and 1 about why hdqs would be in Tempe. It does say this:
The second link is from 2001. How many times has US had a turn in the "worst airline" corner since then?
I'll now turn this over to the thread topic - the 3rd quarter profit - before it gets closed.
Jim
The second link is from 2001. How many times has US had a turn in the "worst airline" corner since then?
I'll now turn this over to the thread topic - the 3rd quarter profit - before it gets closed.
Jim
robbedagain
Veteran
its truly ashame Fleet Cant get any of the profit sharing. hope they get that negotiated into the contract.
Dog Wonder
Veteran
Screw one time payouts. Get permanent raises to make up for 'temporary' paycuts.
It was my understanding that they did give up profit sharing for a raise ($1.00 per hour is what I heard, but I don't know if that is true).
wings396
Veteran
- Aug 20, 2002
- 3,672
- 1,122
Not too sure about that. The IAM pension was introduced back in 2003, and I don't think that the profit sharing went away until the last CBA
I believe there were profit sharing plans for IAM/CWA/ALPA/AFA/TWU back in 2002/03 and the company made the unions modifies it during the last bankruptcy to please the Board of Directors
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