American Turn Around Plan, ATAP
------------------------------------
According to a poster on yahoo the following is either a proposal or has already been agreed to. TWU concessions consist of the holiday after thanksgiving $33 million. One vacation week $55 million.
This is calculated to be 110 $million to be paid in form of a bond backed by assets payable in 11 years with flexible rate , 5 below prime.
Employees may pick any 2 weeks per yr. and only scheduled hours count not overtime or csw hours beyond scheduled. If no selection is made Amount will be deducted in 4 amounts in Jan and Oct.
The Mar 3% increase when factoring in with overtime amounts to $84 million.You wont miss what you never had.
An early out package that will allow 5000 top pay mech., title II cleaners, fsc and other TWU rep workers.They will be replaced with lower starting rate employees.
The savings in vac pay, differences hi lo rates, and productivity minus cost of incentives ($20000) per employees estimated relief $168 million.
Farm out of parts of auto shop at JFK,MIA,ORD,LAX,DFW this is worth this is worth $29mllion. A pay cut of 9% across all classifications is worth $352 million. Contract would run an additional 3 yrs all pay benefits would snapback on amenable date.