Deadlines....

[jack mama]

I am confused...is there a deadline to have agreements ratified before the SH!T hits the fan? Dates keep getting thrown around, like Sept 15, Sept 30...etc

What is the bottom line, end of story deadline?

And how long does it take the unions to get the vote out?
From what I remember, it took at least 2 weeks if not more to get the voting done....

 

[Phantom Fixer]

Who the he!! really knows what the deadline is?

One day we are changing our operation , shifting some focus the FLL...and in the next breath we are going into Chapter 11 and or liquidating.

Basically knowbody knows what to believe anymore.

The one thing that is certain...FF's are swamping the RES centers with calls about wanting to burn thier miles. The local news ran a story about calls being on hold for over an hour....and local travel agencies are being harrased by FF's whom have nothing to do with cashing in those miles before the whole outhouse hits the ground.

One thing is for certain....if chapter 11 part 2 wasn't pre-ordained?....it was damn sure well orchestraited with Dr. Bronner flying off at the mouth by scaring our customers into the arms of other airlines again.

 

[BoeingBoy]

jack,

My unofficial, quite possibly not 100% correct version....

Anytime - American Express credit card processing agreement requirement for "cash" on hand ($850 million). The pension payment, if not reduced under an IRS waiver, could put us in violation of this resulting in $55 million more placed on deposit with them.

Anytime - ATSB "cash" on hand requirement (currently $725 million [edit: at end of each month, less intramonth] unless there have been changes that weren't made public)

Sept 15 - deadline to make pension payments. Without IRS relief on the amount of the payments, this probably would put us in violation of the AmEx agreement.

Sept 30 - ATSB loan financial performance requirement. Not meeting this would also be a breach of the loan covenants.

Dec 31 - another ATSB financial performance requirement, just more strict than the Sept 30 one (I assume, though I have seen no specifics on the changes agreed to earlier this year)

Mar 31, 2005 - see Dec 31 above

etc.

Jim

 

[flyin2low]

They will declare BK on the 5th or 7th..........Happy Labor Day.........You probably won't notice though, due to Hurricane Frances taking up the headlines.

 

[usfliboi]

Regardless of the outcome of negotiations, My opinion is, the company will declare BK again. The sad thing about it, even more loss of jobs, and benefits..... Good luck to all, We will all need it. We had the ablity to stop this i feel, Now We dont!

 

[700UW]

I guess you cant comprehend that US cannot file for bankrucpty. The ATSB loan prevents it.

Several creditors must file a involuntary petition which forces the court to appoint a trustee to run the company and toss out current executives.

 

[jack mama]

I guess you cant comprehend that US cannot file for bankrucpty. The ATSB loan prevents it.

I guess now we know what the IAM is up to...They don't even think the company will go into BK....

 

[700UW]

I guess now we know what the IAM is up to...They don't even think the company will go into BK....

[post="175217"][/post]​

Please show me where in my post I said that?

I just stated what the terms in the ATSB loan contain.

And the IAM fully believes there will be a bankruptcy filing.

 

[oldiebutgoody]

If you read the list of covenants that Boeing Boy wrote, you don't see anywhere in there where concessions would have even a remote effect on whether UAIR goes bankrupt or not (except the illusive Dec 31 number, but nobody knows whether it is more or less stringent). Maybe the IAM knows something?

 

[jack mama]

700UW,
Does the IAM feel they are better off with the contract they have now vs a new agreement with the S1113 protection prior to the BK filing?

 

[700UW]

Did the S1113 protect the Pilot's pension?

The company's plan is to eliminate virtually all of the maintenance department.

So you tell me?

 

[robbedagain]

700: can you tell me if or what will happen to the express cities? or will it stay the way it is--13.00 an hr top scale? i guess i'm trying ot ask if we in the mainline express cities are a little safer with/without a ch11 filing?

 

[to much time to quit]

Regardless of the outcome of negotiations, My opinion is, the company will declare BK again.We had the ablity to stop this i feel, Now We dont!

[post="175203"][/post]​

Come back to the real world, we had no ability to stop antyhing! :down: Unless of course voting your own job away was an option. This company has been mismanaged and overmanaged in every dept for many, many years and the final outcome is out of the employees control.

 

[700UW]

That I do not have the answer too, but I believe the company would outsource you in a heartbeat.

 

[jack mama]

The company's plan is to eliminate virtually all of the maintenance department.

How do you know what the company's plan is? Has the company sent the IAM a formal proposal? I thought there have been no negotiations?