Concessions for jobs....yeah right! read on Tulsa

[CIO]

Fell free to ask these questions at the next membership meeting. Plenty of information has been distributed.

In Solidarity,
CIO

 

[1AA]

The IAM can once the merger is approved, then it's not considered a raid.

WRONG! SCS has not been established so we are still TWO separate carriers.

 

[Bob Owens]

Has anyone else noticed that our 4.8% equity is getting less and less? Now the TWU claims they are entitled to some of it to pay for BK expenses and grievance expenses.

Where is that coming from? I havent heard that. I do not believe that is corrrect since the deal was already made to make the TWU whole (100%) for whatever they spent related to BK. I beleieve its between $2 million and $5million.

 

[Bob Owens]

I'll be surprised if we see anything at all.

Perfectly understandable that you would feel that way but remember, even if we get $21,000 its still less than 10% of what we lost and will continue to lose as we sit at the very bottom of the industry. Figure it will pay for two years of the Retiree medical you lost after taxes.

The NWA Flight attendants got around $15,000 in their BK settlement, and NWA only had $1 billion in the bank when they filed.

 

[Bob Owens]

I'll be surprised if we see anything at all.

Perfectly understandable that you would feel that way but remember, even if we get $21,000 its still less than 10% of what we lost and will continue to lose as we sit at the very bottom of the industry till 2018* at least. Figure it will pay for two years of the Retiree medical you lost after taxes.

The NWA Flight attendants got around $15,000 in their BK settlement, NWA only had $1 billion in the bank when they filed and that was in 2007 .

*Even with the mid term wage adjustment, normally there is a small difference in pay between delta and UAL, we would still be bottom of the industry once you factor in Vacation, Holiday and Sick time pay. We lose around $2/hr with those concessions.

 

[OldGuy@AA]

Where is that coming from? I havent heard that. I do not believe that is corrrect since the deal was already made to make the TWU whole (100%) for whatever they spent related to BK. I beleieve its between $2 million and $5million.

That came from good ole local 514. I usually throw their stuff away but I'll try to find one of the flyers and get it to you.

 

[AANOTOK]

That came from good ole local 514. I usually throw their stuff away but I'll try to find one of the flyers and get it to you.

Question: What makes up the 4.8% equity stake?
Answer: The stake is equivalent to 4.8% of the value of the Company when it exits bankruptcy and is calculated for all work groups based on their concessions and fairness considerations. Keep in mind that AA is in th process of a merger with USAirways. The American Airlines portion of the total value of the merged airline is 72%, so the value the court assigns to the ‘New American Airlines’ our 4.8% would be based on 72% of the value, it is estimated that the combined value of the New American may be up to $13 billion dollars.
Also as part of the discussions with the company on receiving the 4.8% equity there was a settlement of the International 29d’s on the 757 outsourcing and medical cost increases. We agreed to settle both disputes $10M for the overcharges in medical coverage and $6.4M on the B757 outsourcing. In addition, there is a reimbursement to the locals for cost incurred in the 1113 negotiations for a total of ~$680K.

 

[dfw gen]

Fell free to ask these questions at the next membership meeting. Plenty of information has been distributed.

In Solidarity,
CIO

"you are out of order brother" or "they can do that brother" standard responses from the twu

 

[enough already]

Nvm

 

[OldGuy@AA]

Question: What makes up the 4.8% equity stake?
Answer: The stake is equivalent to 4.8% of the value of the Company when it exits bankruptcy and is calculated for all work groups based on their concessions and fairness considerations. Keep in mind that AA is in th process of a merger with USAirways. The American Airlines portion of the total value of the merged airline is 72%, so the value the court assigns to the ‘New American Airlines’ our 4.8% would be based on 72% of the value, it is estimated that the combined value of the New American may be up to $13 billion dollars.
Also as part of the discussions with the company on receiving the 4.8% equity there was a settlement of the International 29d’s on the 757 outsourcing and medical cost increases. We agreed to settle both disputes $10M for the overcharges in medical coverage and $6.4M on the B757 outsourcing. In addition, there is a reimbursement to the locals for cost incurred in the 1113 negotiations for a total of ~$680K.

I have the whole informer but this is the part I was referring to. Thanks.

 

[OldGuy@AA]

I had the pleasure of meeting Chuck Schalk yesterday. I can see why he is so popular with his coworkers in NY. He is very informed and is a credit to our craft. This is a guy who was on the inside and worked hard for his membership. He saw first hand how impossible it is to change the TWU structure. I must point out that the TWU is scared of people like Chuck, Bob and Ken and this is why there will be one local for all line stations. Guys like these are what we need to lead us into the future. That future must be with a different bargaining agent.

 

[CIO]

Where was his sidekick Bob?

In Solidarity,
CIO

 

[iluvaa]

Can you get the @ick out of your mouth long enough to see that we liked Chuck and glad that he is on our side

 

[Flying low]

I'm wondering if Chuck was forced to give up his VP title at 562. Since has has become vocal about supporting AMFA, wouldn't he really have 2 interests to support?

Glad he came out and give some support!!!

 

[OldGuy@AA]

Can you get the @ick out of your mouth long enough to see that we liked Chuck and glad that he is on our side

Wow. What a class act you are. You shouldn't say anything that you wouldn't say to someone's face.