I''ll take my chances with the judge

OP
R

RV4

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Aug 20, 2002
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On 4/9/2003 3:51:23 PM AAviator wrote:


Ok, the judge just screwed you, sec1113. TWU has no contract. Now what?
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If you say so! I guess we would no longer be represented by the weakest union in aviation history and we would save two hours pay per month, If company screws us, we sign cards and get another union.

Ask Delta Mechanics how they make it.
 

AAviator

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Nov 12, 2002
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Ok RV4 the clock is running, your signing your cards. Time for a side note. AA management isn''t calling the shots any more. XXX corporation (texas pacific, Citigroup) or whoever is calling the shots now. While filing BK, AA states it can''t fufill all of its financial obligations. It lists assets valued at XXX, and obligations (debt) at XXX. (remember there is a problem with servicing this debt, thats the reason for filing BK.)

Ok, now, XXX corp, or whomever, agrees to provide "debtor in possession" financing. This financing has all sorts of strings attached to it. Its the money AA need to operate, and emerge from BK.

So how is the card thing going, Money is burning faster on the property now because history has shown us up to about a 10% decline in bookings because of peoples fears of buying tickets on an bankrupt carrier.

The judge sends you back to the table with what union? Remember the D.I.P. money has a price. XXX corporation tells AA management you can have the money you need to operate if your labor costs don''t exceed X$

Hows the card drive going?
 

AAviator

Veteran
Nov 12, 2002
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I''ve been talking with some mechanics at DFW lately. When I ask them how they''re going to vote, I usually get No, I''ll take my chances with the judge.

This leads me to ask, why?

This
isn''t like divorce court where if the 2 sides fail to come up with a solution, the judge decides for you. It''s very different.

So what CAN the judge do, and what can''t he do?

The floor is open.
 

ITRADE

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Take a look at the US Chapter 11 deal if you want to see how well folks fared before the judge. Following US example, you might expect AA to file Chap. 11 before the home field in Dallas Federal court.
 

Bob Owens

Veteran
Sep 9, 2002
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On 4/9/2003 4:22:00 PM AAviator wrote:


Ok RV4 the clock is running, your signing your cards.  Time for a side note.  AA management isn''t calling the shots any more.  XXX corporation (texas pacific, Citigroup) or whoever is calling the shots now.  While filing BK, AA states it can''t fufill all of its financial obligations.  It lists assets valued at XXX, and obligations (debt) at XXX. (remember there is a problem with servicing this debt, thats the reason for filing BK.) 

Ok, now, XXX corp, or whomever, agrees to provide "debtor in possession" financing.  This financing has all sorts of strings attached to it.  Its the money AA need to operate, and emerge from BK.

So how is the card thing going,  Money is burning faster on the property now because history has shown us up to about a 10% decline in bookings because of peoples fears of buying tickets on an bankrupt carrier.

The judge sends you back to the table with what union?  Remember the D.I.P. money has a price.  XXX corporation tells AA management you can have the money you need to operate if your labor costs don''t exceed X$

Hows the card drive going?

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Well in a year it will be over one way or another, no matter what the outcome is it still beats 6 years under these terms.
 

KCFlyer

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Aug 20, 2002
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On 4/9/2003 4:07:19 PM ITRADE wrote:

Take a look at the US Chapter 11 deal if you want to see how well folks fared before the judge. Following US example, you might expect AA to file Chap. 11 before the home field in Dallas Federal court.


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And Texas is such a union friendly state...
 

FA Mikey

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The best hope is that you are able to work out an agreement before it gets to the judge. The judge and court will screw you guaranteed. So you better be prepared to come to agreement with AA before that time.
 

Bob Owens

Veteran
Sep 9, 2002
14,274
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----------------
On 4/9/2003 4:07:19 PM ITRADE wrote:

Take a look at the US Chapter 11 deal if you want to see how well folks fared before the judge. Following US example, you might expect AA to file Chap. 11 before the home field in Dallas Federal court.


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They came to an agreement before BK. Now they are out but they are stuck with those concessions till 2008.
 

FWAAA

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Jan 5, 2003
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But I think that AA will file in New York, which is such a Creditor Friendly state.
 

Bob Owens

Veteran
Sep 9, 2002
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On 4/9/2003 4:13:36 PM FWAAA wrote:

But I think that AA will file in New York, which is such a Creditor Friendly state.

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Its also a Labor Freindly state. I''d rather that it be in NY than Texas.
 

AAviator

Veteran
Nov 12, 2002
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Itrade, good point. I see you on the USAIRWAYS board. Maybe I should invite some of the U employees to comment on the benefits of going into BK, Maybe they can tell us if it was better deal than getting another party involved in solving the airlines problems.
 

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