I have received 'many' emails where workers are saying their IAM reps are saying 'Can't tell ya' when questions are asked about the breakdown of any award. So I put out the following Q & A.
Question: IAM loyalist say that the COC is only worth about $30 million, is this true and if not what it is worth?
Answer: My understanding is that the IAM agreed to put the worth at 10% of its worth as part of a 'credit' in the rejected T/A. That's probably where the $30 million worth came from. In other words, the company recognized a 10% credit for the COC if the IAM were successful in having it thrown under the bus.
The total worth of the Change of Control as specified in a court of law by the company's high priced attorneys was put at exactly $439 million between the east ramp & M&R. That was a snap shot taken last February.
Question: But the court documents didn't put the fleet numbers at $300 million so where does the 10% or $30 million come from?
Answer: Notice, any award will now recognize another 8 months of back pay. In September, my understanding is that the COC was up to $300 million for fleet only. The total award [Fleet service & Mehanics] is most likely well over $500 million at this point once the additional 8 months are calculated in. The original $439 million as recognized by the company's attorneys was based on a February date. As this thing drags on, any award will continue to 'accumulate'.
Question:
How does $300 million or 1/3 Billion dollars break down practically speaking?
Answer:
Here's what some of the numbers mean.
$21.19 if awarded. Then at the ammendable date you can add 4.5% on 12-31-09 so:
12-31-09 $22.14 Then 4.5% for an additional 3 years, assuming the union chooses to extend it
12-31-10 $23.14
12-31-11 $24.18
12-31-12 $25.27
Then from there, you start negotiating on a new contract.
Question: Why doesn't the IAM break down the wage numbers since that's what we are talking about?
Answer: It's quite obvious that the IAM wants to share in the spoils and that means they will once again attempt to negotiate any award away in return for "IAM interest". It's alot of money but it's yours,not the IAM's. In short, they will most likely want to force some re-allocation of any award and 'get themselves some'.
They want the masses to remain ignorant. Remember, the COC is already in the agreement and it is non-negotiable.
Question: The IAM sez, back pay would most likely not be a part of any settlement? is this true?
Answer: What they are telling you is that they plan on negotiating it away for perhaps IAM interest items like positive space travel, more dues paying members, etc. Back pay would most certainly be a part of any violation. The IAM doesn't even mention this, neither would someone else who is trying to rip you off. I mean, ask your IAM AGC and see if you don't get a load of smoke blown up your ###. Know this, the COC is accumulating worth now and it isn't because you won't win back pay for the duration of the violation. Further, if the company appeals a arbitration loss, it will most likely face increased penalties, fees, fines, etc, payable to the recipients who were damaged.
Question: How much would any back pay award be?
Answer: Depending on your yearly income. Any award will be based on when the violation first started [initial change of control, over two years ago]. The company either violated the contract from a specific time or it didn't. Back pay awards were between $20,000-$30,000 for some but now the accumulation is making the award over $30,000 for some. In essance, any award is now worth more than $439 million. Check your w2's and base all hours on $21.19hr as opposed $15.62, or $17.00 [overtime rates would also be included]
Question: The IAM has been really negative when they talk about an award and the IAM has said the company may win an appeal and that it would take 'years' to collect. What is the chance of a company voiding binding arbitration?
Answer: In bankruptcy a company can avoid alot. However, this context isn't in bankruptcy and with record profits the payout is unavoidable.The reputable Railway Labor Act law firm, “Seeham, Seeham, Meltz, Petersen†was retained by US AIRWAYS pilots in hopes of overturning a recent arbitration award. According to documents made public, in a letter dated August 20, 2007 to the US AIRWAYS East pilots, the law firm said, “ The Supreme court has held that the grounds are very narrow for vacating an arbitration award under Federal Law. [United Paperworkers v Misco, Inc…..â€we believe that any reviewing court will be mindful of the standard of review applied to Railway Labor Act arbitration cases which has been characterized as among the narrowest known to law.†[Union Pacific vs Sheehan,439 US 89,91 (1978)
Therefore, any delay in the arbitration award would be a direct result of your company believing the IAM will negotiate away the award. And consider the waiting period a time in which you would collect interest on your money. Kinda like a 12 month CD.
Question: Canale and the IAM say the COC won't recognize west employees?
Answer: Any transition agreement would have to recognize the west and put them under the east agreement. To this end, Parker recognized his need for a transition agreement & the 'west inclusion' when the COC was recognized at $627 million once the west is included.
regards,
Question: IAM loyalist say that the COC is only worth about $30 million, is this true and if not what it is worth?
Answer: My understanding is that the IAM agreed to put the worth at 10% of its worth as part of a 'credit' in the rejected T/A. That's probably where the $30 million worth came from. In other words, the company recognized a 10% credit for the COC if the IAM were successful in having it thrown under the bus.
The total worth of the Change of Control as specified in a court of law by the company's high priced attorneys was put at exactly $439 million between the east ramp & M&R. That was a snap shot taken last February.
Question: But the court documents didn't put the fleet numbers at $300 million so where does the 10% or $30 million come from?
Answer: Notice, any award will now recognize another 8 months of back pay. In September, my understanding is that the COC was up to $300 million for fleet only. The total award [Fleet service & Mehanics] is most likely well over $500 million at this point once the additional 8 months are calculated in. The original $439 million as recognized by the company's attorneys was based on a February date. As this thing drags on, any award will continue to 'accumulate'.
Question:
How does $300 million or 1/3 Billion dollars break down practically speaking?
Answer:
Here's what some of the numbers mean.
$21.19 if awarded. Then at the ammendable date you can add 4.5% on 12-31-09 so:
12-31-09 $22.14 Then 4.5% for an additional 3 years, assuming the union chooses to extend it
12-31-10 $23.14
12-31-11 $24.18
12-31-12 $25.27
Then from there, you start negotiating on a new contract.
Question: Why doesn't the IAM break down the wage numbers since that's what we are talking about?
Answer: It's quite obvious that the IAM wants to share in the spoils and that means they will once again attempt to negotiate any award away in return for "IAM interest". It's alot of money but it's yours,not the IAM's. In short, they will most likely want to force some re-allocation of any award and 'get themselves some'.
They want the masses to remain ignorant. Remember, the COC is already in the agreement and it is non-negotiable.
Question: The IAM sez, back pay would most likely not be a part of any settlement? is this true?
Answer: What they are telling you is that they plan on negotiating it away for perhaps IAM interest items like positive space travel, more dues paying members, etc. Back pay would most certainly be a part of any violation. The IAM doesn't even mention this, neither would someone else who is trying to rip you off. I mean, ask your IAM AGC and see if you don't get a load of smoke blown up your ###. Know this, the COC is accumulating worth now and it isn't because you won't win back pay for the duration of the violation. Further, if the company appeals a arbitration loss, it will most likely face increased penalties, fees, fines, etc, payable to the recipients who were damaged.
Question: How much would any back pay award be?
Answer: Depending on your yearly income. Any award will be based on when the violation first started [initial change of control, over two years ago]. The company either violated the contract from a specific time or it didn't. Back pay awards were between $20,000-$30,000 for some but now the accumulation is making the award over $30,000 for some. In essance, any award is now worth more than $439 million. Check your w2's and base all hours on $21.19hr as opposed $15.62, or $17.00 [overtime rates would also be included]
Question: The IAM has been really negative when they talk about an award and the IAM has said the company may win an appeal and that it would take 'years' to collect. What is the chance of a company voiding binding arbitration?
Answer: In bankruptcy a company can avoid alot. However, this context isn't in bankruptcy and with record profits the payout is unavoidable.The reputable Railway Labor Act law firm, “Seeham, Seeham, Meltz, Petersen†was retained by US AIRWAYS pilots in hopes of overturning a recent arbitration award. According to documents made public, in a letter dated August 20, 2007 to the US AIRWAYS East pilots, the law firm said, “ The Supreme court has held that the grounds are very narrow for vacating an arbitration award under Federal Law. [United Paperworkers v Misco, Inc…..â€we believe that any reviewing court will be mindful of the standard of review applied to Railway Labor Act arbitration cases which has been characterized as among the narrowest known to law.†[Union Pacific vs Sheehan,439 US 89,91 (1978)
Therefore, any delay in the arbitration award would be a direct result of your company believing the IAM will negotiate away the award. And consider the waiting period a time in which you would collect interest on your money. Kinda like a 12 month CD.
Question: Canale and the IAM say the COC won't recognize west employees?
Answer: Any transition agreement would have to recognize the west and put them under the east agreement. To this end, Parker recognized his need for a transition agreement & the 'west inclusion' when the COC was recognized at $627 million once the west is included.
regards,
