ALPA''s Motion

mlt

Senior
Dec 2, 2002
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Have you read the motion ALPA filed today? My synopsis of their argument:
1. The court does not have the authority to terminate the pension. Only through grievance or the PBGC distress terminates the plan.
2.The contingent letter was only valid if the PBGC distress terminated the plan.
3. They never agreed that a defined contribution plan was the solution if the above happened, only an alternative.
4. USAirways paid 15 million to Wolf & Gangwal in 1999.
5. USAirways spent 2 billion in cash to buy back stock in 1998 and 1999.
My non-lawyer opinion of the motion:
Strongest point:
Argument agains Defined Contribution (p.19)
Weakest point:
ALPA is funding other pensions (did not offer proof, only statement)
Most childish point:
They want freezes and/or reduction from all pension plans prior to terminating ALPA''s plan. (p.35)
 

PITbull

Veteran
Dec 29, 2002
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MLT,

All I can say is W-O-H-W!
 

Formatman

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Aug 20, 2002
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[blockquote]
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On 2/14/2003 6:52:23 PM mlt wrote:


Most childish point:
They want freezes and/or reduction from all pension plans prior to terminating ALPA's plan. (p.35)
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[/blockquote]

Hey, they can't freeze my pension plan any more than it's already frozen! So don't look to me for sympathy...
 

autofixer

Veteran
Aug 20, 2002
1,804
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[blockquote]
----------------
On 2/14/2003 8:49:36 PM Formatman wrote:

[blockquote]

----------------

On 2/14/2003 6:52:23 PM mlt wrote:



Most childish point:

They want freezes and/or reduction from all pension plans prior to terminating ALPA's plan. (p.35)

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[/blockquote]


Hey, they can't freeze my pension plan any more than it's already frozen! So don't look to me for sympathy...


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[/blockquote]
You should have voted union...don't look to me for sympathy! At least they froze your plan, they want the whole 16 years vested earnings from mine.
 

dfw79

Senior
Aug 20, 2002
308
0
[blockquote]
----------------
On 2/14/2003 11:26:18 PM autofixer wrote:
[blockquote]
----------------
On 2/14/2003 8:49:36 PM Formatman wrote:
[blockquote]
----------------
On 2/14/2003 6:52:23 PM mlt wrote:
Most childish point:
They want freezes and/or reduction from all pension plans prior to terminating ALPA's plan. (p.35)
----------------
[/blockquote]
Hey, they can't freeze my pension plan any more than it's already frozen! So don't look to me for sympathy...
----------------
[/blockquote]
You should have voted union...don't look to me for sympathy! At least they froze your plan, they want the whole 16 years vested earnings from mine.
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[/blockquote]

Umm...you are union and they want your whole thing, the non union had theirs frozen. Sounds like the union has been really effective for you.
 

N628AU

Veteran
Aug 22, 2002
909
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www.usaviation.com
And the most ridiculous item, what they paid Wolf and the stock buy back. Hindsight is 20/20. No one new the rare combination of a weakened stock market and 40 year low interest rates would occur. On top of that it has no legal merit. I would love to see an attorney argue this. I would actually pay to see a judge laugh at them. Why don't they add all the management mistakes made since the beginning of time?
 

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