B
BottomFeeder
Guest
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On 1/25/2003 12:03:30 PM us10 wrote:
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On 1/25/2003 11:34:20 AM real world wrote:
Two questions based on the Code-A-Phone statement:
"the MEC required that a confidential side letter be executed by the Company that legally obligated it to provide funding for pension benefits to pilots in the event the pilot pension plan was terminated"
Does this not constitute an agreement?
"We do not believe that alternatives being pursued by the Company at this time would prevent pilots from losing a substantial part of the benefits that they have earned"
So then what is the problem?
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You left out the last three words of the your cited quote.The words; "by the PBGC" should have been included.The side letter did not cover a company requested termination or a joint company/ALPA requested termination.
If the PBGC should step in and terminate the plan ALPA wanted some protection.
Please re-read the second of your quotes.If you still can't see the problem, well, I don't think I can help you.
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RealWorld,
You appear to be very informed on these matters.
What do you think of us10's answer?
Are the numbers in the MEC memo correct?
If this memo is correct. They do have a good point. The numbers do speak louder than words.
THEY WANT A TRUSTED LEADER
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On 1/25/2003 12:03:30 PM us10 wrote:
[blockquote]
----------------
On 1/25/2003 11:34:20 AM real world wrote:
Two questions based on the Code-A-Phone statement:
"the MEC required that a confidential side letter be executed by the Company that legally obligated it to provide funding for pension benefits to pilots in the event the pilot pension plan was terminated"
Does this not constitute an agreement?
"We do not believe that alternatives being pursued by the Company at this time would prevent pilots from losing a substantial part of the benefits that they have earned"
So then what is the problem?
----------------
[/blockquote]
You left out the last three words of the your cited quote.The words; "by the PBGC" should have been included.The side letter did not cover a company requested termination or a joint company/ALPA requested termination.
If the PBGC should step in and terminate the plan ALPA wanted some protection.
Please re-read the second of your quotes.If you still can't see the problem, well, I don't think I can help you.
----------------
[/blockquote]
RealWorld,
You appear to be very informed on these matters.
What do you think of us10's answer?
Are the numbers in the MEC memo correct?
If this memo is correct. They do have a good point. The numbers do speak louder than words.
THEY WANT A TRUSTED LEADER
35 PM mlt wrote: [BR][BR]On December 13, prior to ratifying the Supplemental Cost Reductions agreement, the MEC required that a confidential side letter be executed by the Company that [STRONG]legally obligated it to provide funding for pension benefits to pilots in the event the pilot pension plan was terminated by the PBGC[/STRONG]. [BR][BR]From my observation point:[BR][BR]ALPA was complicit in an attempt to defraud the federal government and the American taxpayers. Their counterpart -in true TV Courtroom drama- unexpectedly turned on them. Being the mature boys and girls they are, they 'creatively figured' the figures and now cry 'foul'.[BR][BR]Grab your gas mask, the stench permeating the air from the sewer may be lethal.----------------[/BLOCKQUOTE][BR][BR]I sense mlt is another that is disappointed with their position on the socio-economic ladder, wishing to share their pain. I hardly think that protecting one's position through specific documentation is in any way defrauding anybody. Anyone that doesn't get the "fine print" spelled out in something other than "lawyer speak" is doing themselves (and in ALPA's case their contituents) a serious disservice. I'll bet management really hates it when the "help" is smart enough to call their bluff. That's my observation point. If the company did this and didn't disclose it to the appropriate parties, it's their hot potato.