Nwa Defaults On Pymts

[proAMFA]

I know I didn't read the media reports correctly today. NWA defaulted on 42 million dollars in payments to creditors and is about to default on a 65 million dollar pension fund payment after spending over $100,000,000 finding, hireing, raining, boarding, and transporting SCABS?

Maybe I don't see the complete picture here. Someone explain to me why it made good business sense to do this?

 

[FWAAA]

Nothing out of the ordinary. Companies typically don't pay their debts in the days/hours leading up to a Ch 11 filing to conserve cash. The scabs ought to be worried about their paychecks, as bankrupt companies sometimes fail to make the last payroll.

The hundred million spent on union-busting? Chump change. NW sees that investment paying off in spades over the next 20, 30 maybe even 50 years. They probably anticipate much lower labor costs for as far ahead as anyone can see. Billions of savings each year. As investments go, a shrewd move.

Of course, that doesn't make it right.

 

[TWU informer]

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...........Because "they can do that, brother"?

 

[MCI transplant]

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...........Because "they can do that, brother"?

[post="300307"][/post]​

<_< For those who do not work at aa, that was a TWU slam also!!!!! 😛

 

[coolflyingfool]

Good luck to all - I think it is about to get really ugly.

 

[PlayTheOdds]

Yes you read that correctly proAMFA. Am I good or what? Tell me once when I have been wrong. All those industry experts don't have a chance against me. AMFA really put the screws to its members for sure. Where is AMFA? I bet they are hiding in Florida in a multi- million dollar beach house. Why? Because they have managed to lose 100% of its members jobs and now they are in no position to even attempt to save the pensions that is probably going to be reduced in value by 60%. My hat is off to you AMFA, when you screw up you do it right. For all those that promoted this strike, with out weighing the consequences, congratulations on a job well done your 50+ year old unemployed brothers thank you I'm sure.

 

[Emil.Howes]

Yes you read that correctly proAMFA. Am I good or what? Tell me once when I have been wrong. All those industry experts don't have a chance against me. AMFA really put the screws to its members for sure. Where is AMFA? I bet they are hiding in Florida in a multi- million dollar beach house. Why? Because they have managed to lose 100% of its members jobs and now they are in no position to even attempt to save the pensions that is probably going to be reduced in value by 60%. My hat is off to you AMFA, when you screw up you do it right. For all those that promoted this strike, with out weighing the consequences, congratulations on a job well done your 50+ year old unemployed brothers thank you I'm sure.

[post="300348"][/post]​

PTO,

Come out of the closet.
Your IAM SCAB Affiliation is beginning to leak out.

-BigE

 

[PlayTheOdds]

PTO,

Come out of the closet.
Your IAM SCAB Affiliation is beginning to leak out.

-BigE

[post="300352"][/post]​

BigE, I want you to think about how smart you think you are then multiply that by 10 to the 10th power then multiply that by infinity and the end result will be how ignorant you actually are.

 

[qwerty]

Back to the topic. Why should the company make a pension payment when they intend to shed this obligation in bankruptcy? The mechanics no longer have a contract, nor employment and shortly will no longer have a pension.

And if WNjetfixer is still lurking, you sound scared. You should be. When the legacies get their labor costs in order, guess who'll be next ?

 

[WNJETFIXER]

Back to the topic.  Why should the company make a pension payment when they intend to shed this obligation in bankruptcy?  The mechanics no longer have a contract, nor employment and shortly will no longer have a pension.

And if WNjetfixer is still lurking, you sound scared.  You should be.  When the legacies get their labor costs in order, guess who'll be next ?

[post="300445"][/post]​

I'm not scared, just pissed!!! The legacies will never get their stuff in order. NWA was going into BK regardless of what the mechanics did. This was all about the BK. How hard is it to understand. Do you really think that all of those scabs are going to become permanent? They would be stupid if they did. Unions are'nt going anywhere.

 

[chasbatl]

Back to the topic. Why should the company make a pension payment when they intend to shed this obligation in bankruptcy? The mechanics no longer have a contract, nor employment and shortly will no longer have a pension.

[post="300445"][/post]​

Actually our pension is guaranteed by the PGBC. Is your ignorance something you have to try to do or does it just come naturally to you QWERTY?

 

[qwerty]

Ask the pilots at US Airways about the PBGC.

You may get exactly what was promised you, and maybe not. But it won't be NWA that's paying it. This is why management forced a strike. This is why the lawyers are on the way to the courthouse. Game, set, match.

 

[chasbatl]

Ask the pilots at US Airways about the PBGC.

You may get exactly what was promised you, and maybe not. But it won't be NWA that's paying it. This is why management forced a strike. This is why the lawyers are on the way to the courthouse. Game, set, match.

[post="300528"][/post]​

Once again QWERTY you've shown your ignorance. NW pays insurance premiums to the PBGC so it will be some of their money we would receive. As for the pilots, which im not, They wont receive their full pensions since the PBGC caps payments at $3,801.14 max at age 65 for the year 2005 but most mechanics would recieve the max or very close to it so in effect our pensions isnt changing. The only thing that is changing is who administers it.

Since you seem to think your so knowledgeable about whats going between AMFA and NW you should have known that AMFA proclaimed from the start that NW's intentions were to get paycuts from AMFA and then hit them for more paycuts in BK court. So take your pro-company, management loving, Andy Roberts pole smoking ideas somewhere that someone might actually think you know what your talking about. Also i was just wondering, how long did it take you to come with such an original alias as QWERTY? Sounds like something my 8yo son would come up with.

 

[Bob Owens]

Yes you read that correctly proAMFA. Am I good or what? Tell me once when I have been wrong. All those industry experts don't have a chance against me. AMFA really put the screws to its members for sure. Where is AMFA? I bet they are hiding in Florida in a multi- million dollar beach house. Why? Because they have managed to lose 100% of its members jobs and now they are in no position to even attempt to save the pensions that is probably going to be reduced in value by 60%. My hat is off to you AMFA, when you screw up you do it right. For all those that promoted this strike, with out weighing the consequences, congratulations on a job well done your 50+ year old unemployed brothers thank you I'm sure.

[post="300348"][/post]​

So tell us, how much of a pension do you expect from NWA PTO?

One thing for sure is that the AMFA mechs will be collecting more of a pension from their service at NWA than you ever will.