LET'S COMPARE RUMORS
- Thread starter Hopeful
- Start date
Which contract are you talking about? All of them come up for negotiation within the next few months.
Ed Norton
Veteran
I've heard your rumor. Supposedly the TWU goon squads were out getting a figure from the Tulsa membership. $10,000 seems to be the magic number. I also heard from "someone who knows someone" in the Tulsa local, that one year's base pay lump sum is in the offering.
Who knows? :huh:
OP
- Dec 21, 2002
- 5,998
- 347
- Thread Starter
- #4
Sorry.....TWU...That's why I mentioned the two year extension which is in discussion now.
or no deal :down: ?
OP
- Dec 21, 2002
- 5,998
- 347
I've understood that they're basically staring at each other to avoid charges of bargaining in bad faith. I'm told there have been no proposals cross the table, from either side to the other.
If that's true, not certain what the charade is all about.
OP
- Dec 21, 2002
- 5,998
- 347
- Thread Starter
- #8
Exactly...But by refusing to consider a two year extension does not mean bad faith bargaining,,,rather an unacceptable proposal.
My point was if one camp makes it known they wish to talk, the other camp must accomodate them or be accused of bad-faith bargaining. If there's been nothing passed across the table (IF what I was told is true) by either side, then this becomes a charade with an unknown purpose.
Perhaps this is simply a way to dilute (in the company's estimation) TWU resources; then again, they may have found some loose women and whiskey - no telling.
I'm being told by my local that 18 months is what the company wants.
Should be just enough time to complete the spinoff of maintenance that FL Group wants. :down:
Should be just enough time to complete the spinoff of maintenance that FL Group wants. :down:
That's kinda what I was thinking too. FL has enough voting shares that with a bit of politicking for the votes of the other shareholders that took a hosing when the executive dilution (bonuses) came about, they might be able to toss a few directors and get closer to the short-term gains they want.
FL got a bloody nose after approx. 50% of their investment's value went south earlier this year and they probably want some blood in return. There probably will be a high-level fight for the boardroom and regardless of the winner, we (mechs) will get screwed as usual.
Anything that will give AMR execs some breathing room such as an extension is, to me, out of the question. Let 'em squirm! We did. What goes around comes around, and while I can't do a lot in this regard, I will do what I can which would be selling FL my shares or assign the proxy.
As I said, if this does turn into a fight, we, the mechanics, will get screwed regardless of the winner, bottom line. I'll do everything in my power to push over a few ivory towers on the way down and I hope others will do the same.
eolesen
Veteran
- Jul 23, 2003
- 15,907
- 9,359
Shareholders, rightly or wrongly, have very little say in strategic moves like this.
FL Group can talk until they're blue in the face, and as long as management considers their ideas and doesn't deny them the opportunity to express their concerns, FL Group won't be able to do much but try to sway public opinion so that 50.1% of the shareholders take their side.
Heck, Airtran even managed to get a majority of Midwest's shares in their recent tender offer, but that didn't stop the YX board from saying "no" to AAI's buyout offer, nor could AAI stop YX from agreeing to be bought out by NWA and TPG.
If it were such a great idea, it would have been done to float money for UAL's emergence from bankruptcy. ACE isn't exactly the model of efficiency. These are the guys who spun off their maintenance bases to make a fast buck and had to send aircraft to MCI for overhauls within a year or so of doing the spin-off...
FL Group can talk until they're blue in the face, and as long as management considers their ideas and doesn't deny them the opportunity to express their concerns, FL Group won't be able to do much but try to sway public opinion so that 50.1% of the shareholders take their side.
Heck, Airtran even managed to get a majority of Midwest's shares in their recent tender offer, but that didn't stop the YX board from saying "no" to AAI's buyout offer, nor could AAI stop YX from agreeing to be bought out by NWA and TPG.
If it were such a great idea, it would have been done to float money for UAL's emergence from bankruptcy. ACE isn't exactly the model of efficiency. These are the guys who spun off their maintenance bases to make a fast buck and had to send aircraft to MCI for overhauls within a year or so of doing the spin-off...
Similar threads
