From the latest BPR update:
The Weeks Ahead
We now have anywhere between 60 90 days before we will know how any merger deal will be structured. Without knowing the outcome of AMR's and US Airways' confidential negotiations, we cannot imagine that signing on to the MOU as it stands today would be advisable. Paragraph 19 of the MOU states that the APA needs to agree with 10 of the other paragraphs and, should they not reach a consensus with both US Airways management and USAPA, we may end up giving away items like minimum fleet and block hour protections (read scope) and conceivably receive nothing in return. Simply put, right now, the MOU is an incomplete document whose formation was interrupted (perhaps intentionally?) by AMR's request to US Airways Management and their subsequent agreement to "cease union negotiations."
I guess they just make this stuff up. If you believe Parker and Kirby have been in the dark as to the finances of AMR Corp. over the last 2 years, I have some swampland to sell you all.
The logical analysis is they will come out of AMR HQ, white smoke billowing, sometime between now and late December, as soon as mere weeks from now (to give the appearance of due diligence.) In fact, leave no doubt, the ONLY thing being worked out now is who runs this thing and how much the other guys get paid on exit. Or course, the news could be no merger. Then MOU has no meaning. I have some more swampland for you all to buy.
Having not seen the MOU, the CLT reps had a meeting to tell you to vote NO.
Having not seen the MOU the BPR voted to send out "anything" to the pilots.
THEN:
NAC and Wilder brief the BPR, and all give thumbs up. Wilder, Merger Counsel, and General Counsel (all elected by the BPR….two hired by Cleary) say send it out yesterday, and approve it. Time is critical. 120 years of law between them all. No doubt they are warning the BPR.
Wilder says "this is it, all there is." You will hurt my position in the JNC process if you send me back. More to get there, just don't waste capital now.
BPR sends it out, BPR says vote NO. BPR tells Wilder to go back for more.
Kirby gives us the finger.
BPR now threatens to "pull" the vote with "as it stands language. "To send the MOU out for Membership Ratification and as it stands today, voting will commence on or around September 21st."
As it stands today? They stupidly forced themselves to send out "anything" before they saw it (thanks CLT reps!) now have remorse? They are not in touch; this thing will pass as is by over 75%
If they screw this up, here is the conversation a Group II C/O has with his Rep after the Merger is announced:
Do I get the 50K raise?
No
Do I get the 10K bonus"
No
Do I have 5:1widebody downsize protection with APA and the termsheet?
No
Do I have 2:1 narrowbody downsize protection with APA and the termsheet?
No
Can AMR put all the 190s on our side?
Yes
Is the NIC actually dead now with M/B language in the MOU?
No, the MOU is gone, it lives.
Do we have M/B leverage at the table with our "ratios?"
No, the MOU is gone
Can we now cash in our COC and code share, it's worth a lot?
Sure, big merger coming up with Virgin, no wait, Alaska, uh..not sure.
Did you show Parker who was boss, and let him know what you think?
I sure did!
So what is your plan going forward?
Sound of crickets.
Greeter