Magsau:
Your comments are off base and so far I am much, much better off by going to US than UA. At US I was fortunate to be A scale, upgraded to Captain in 4 years, and have better working conditions.
If I would have gone back to UA, I would have lost 10 months of seniority, been B Scale, taken 8 years to upgrade to Captain, parti****ted in the ESOP pay loss, and the retirement reduction. Moreover, I would have seen part my ESOP shares sold by State Street and likely my 401(k) share (if I had any) sold by AON.
I do not have a so-called hard on for UA and just like DL, HP, CO or anybody else for that matter, I only want the best for your company.
Do I disagree with UA ALPA's continued attempt to bypass the ALPA International Merger Policy. Absolutely. Here's why...
Let me ask you this, let's say RSA buys UA assets or the entire airline and merges the entity into US's lower cost contracts. US becomes the survivor and before the transaction the pilots obtain a LOA with a pre-nuptial seniority list clause, all 1800 US furloughees must be recalled before any UA pilot transfers, and only the UA pilots necessary to fly any remaining assets would employed by US. How would you like this deal?
Magsau, this isn't about me. It's what is being talked about on Wall Street, in Washington, WHQ, & CCY. I simply report what I've heard from informed sources and it's up to the reader to decide how they want to interpret the information.
I'm not trying to pour salt into anybody's wounds and I certainly understand the bankruptcy and fragmentation threat.
However, could it be the ESOP, governance, pre-nuptial, and IAM issue, in the final analysis, become the reason(s) for UA's demise? Could the board decide it needs to file for bankruptcy to stop having important corporate decisions made in the union halls versus WHQ? Could the ATSB decide the company will never be viable as long as the airline has its current governance structure and have governance in its cross hairs?
I recognize the UA employees had no option but to execute the ESOP and the alternative could have been worse. However, there are those who believe the governance clause is a noose around managements neck, which could drive your company in bankruptcy, where all bets are off. This sucks, but it's a fact.
Will a corporate transaction happen between our companies? I do not know, but its repeatedly been talked about in different forms since the merger termination and with so many moving parts, we’ll just have to wait and see if something occurs.
Regards,
Chip