Look who's going back to prior bankruptcy days? You can't compare the % decreases since there was no leverage and the alternative was chapter 7. Even so, weren't you the only ones that gained the IAM pension fund?
excuse me but I was on the committee that had the IAM pension plan presented to us, and it was presented as a 48.2 million concession. The math was pretty simple.
401k= up to 10% company contributions + company contributions on overtime also.
IAM Pension = 5% for full time or 3% part-time + zero company contributions for overtime hours.
At any rate, DF, everyone is at square one and if you think one group is going to get 'extra credit' because of decades of previous membership then you're nuts. Sorry, no extra credit on this test.
If hemenway can sign a contract to one group with oil at '$113 buck' and explicitly says its affordable to give them a 31% pay raise over 5 years, Big fat Pension increases, benefit gains, then it's more than fair for other groups to demand it. That's how the wage decreases worked in bankruptcy so it should naturally follow that that's how they work now in post bankruptcy.
Now fleet has to 'clean up' it's proposal so that it fits the new 'template' that hemenway fashioned for the mechanics, and implicitly said was affordable.
FWIW: if we have any fleet negotiators out here, be aware of one of Canale's tricks to get a tentative and then after you all agree, the darn thing goes back to "IAM Legal" only to find out you been 'hoodwinked' with language that didn't rightfully represent your intentions. Same with your proposals, read them thoroughly before it gets presented to the company. The last one was a mess and all over the place. If it takes an extra few hours to clean it up then it's worth the time. Two sacreds: the proposal that goes to the company, and the final language of any TA.
At any rate, I am not convinced that the company understands the September mandate. So, don't be surprised if things continue to drag out. One big thing is that we have those 19 west stations. If there are any mergers coming, then keeping those 19 stations in tact [should stay in tact anyways] as we have now is powerful.
For example only, we have SLC and in a merger with Delta, that would have the big potential to make SLC a union hub. IMO, I wouldn't be the least surprised if US AIRWAYS makes another pitch for Delta once the company tries to secure more favorable contracts to position it for another merger.
regards,
Tim Nelson
IAM Local Chairman, 1487, Chicago