Long-time reader, new to posting. This article was posted yesterday in the Pittsburgh Tribune Review:
http://pittsburghlive.com/x/tribune-review...s/s_168409.html
Quote:
"Siegel is likely to reinvoke a war-time clause in labor agreements that allow management to defer 5 percent of pay for up to 18 months, said Robert Mann Jr., head of R.W. Mann & Co., an airline consultancy on Long Island. He did so last March after the U.S. invasion of Iraq, but lifted it in July.
With the Iraqi conflict still raging, Mann said, Siegel could defer pay again. Based on 2002 personnel costs, that would save more than $160 million next year -- well over half what the CEO is targeting.
'It's inevitable he'll come back for that 5 percent. Maybe more," Mann said. "The low-hanging fruit is labor costs. (But) they have to try to do it consentually.'"
Is this possible?
http://pittsburghlive.com/x/tribune-review...s/s_168409.html
Quote:
"Siegel is likely to reinvoke a war-time clause in labor agreements that allow management to defer 5 percent of pay for up to 18 months, said Robert Mann Jr., head of R.W. Mann & Co., an airline consultancy on Long Island. He did so last March after the U.S. invasion of Iraq, but lifted it in July.
With the Iraqi conflict still raging, Mann said, Siegel could defer pay again. Based on 2002 personnel costs, that would save more than $160 million next year -- well over half what the CEO is targeting.
'It's inevitable he'll come back for that 5 percent. Maybe more," Mann said. "The low-hanging fruit is labor costs. (But) they have to try to do it consentually.'"
Is this possible?