OCT/NOV 2012 US Pilots Labor Discussion

[luvthe9]

"Further, given Towers Perrin’s prominent role in executive compensation consulting, the multiple relationships Towers Perrin had with US Airways, and the widely recognized dangers related to executive compensation consultants that provide other services to companies, whether Towers Perrin provided executive compensation services to US Airways, or its executives, is a significant concern requiring further investigation."

 

[luvthe9]

[background=transparent]"Our review of one private equity fund in which the Plan invested, Alchemy Investments, revealed that the fund and the management firm lacked many of the hallmarks of a prudent pension investment, such as an established investment performance track record. Contrary to prudent practices for pensions, the Plan owned 98% of the Alchemy fund. Owning virtually 100% of a private equity fund that lacked any investment performance track record amounted to piling risk upon risk.[/background]
[background=transparent]It appears that Alchemy significantly underperformed (by 20%) its applicable benchmark on a gross basis. Since fees and transaction costs related to this investment may have been in excess of 5%, the performance on a net basis may have been far worse."[/background]

 

[luvthe9]

First Officer Westberg then reviewed for the Board the recent deposition of Michelle Bryan, former
Senior VP of Human Resources at US Airways. Prior to working for US Airways, Ms. Bryan was
employed by Towers Perrin. It was learned that Towers Perrin not only served as actuarial of the
Pilots Defined Benefit Plan and the Master Trust, but that they were also the Investment Advisors to
the plan! While working at Towers Perrin, Ms. Bryan testified that her duties included drafting
pension plans and executive pension plans. A transcript of Ms. Bryan's deposition is available on the
USAPA website in the Legal Library.
The discovery phase is nearing an end, and the Committee must determine how to proceed with the
collected information. As reported yesterday, because of a potential conflict of interest as a result of
the Bingham law firm's ongoing relationship with State Street Bank, significant time and effort has
been spent evaluating an appropriate firm to provide an independent legal analysis of where we stand
on the pension investigation. The PIC recommended that the Board approve the law firm O'Dwyer
and Bernstein due to its extensive experience in the pension arena and experience with and depth of
knowledge of State Street Bank and Towers Perrin.
The Board voted unanimously to contract with the firm of O'Dwyer and Bernstein for legal services
to support the PIC.
Unbiased Facts’ Relevant Questions: Why did USAPA hire a law firm for the Pension
Investigation that has a potential conflict of interest? Should the BPR and PIC have done more
research before spending the pilots’ money to hire a law firm that has a potential conflict of interest?


UNBIASED FACTS leader is a proponent of CLT recall. Again, Chip Munn has made another incorrect conclusion. He attempts to derail the Pension Committee right as it gets ready to move on the PBGC. Another reason NOT to recall any CLT rep. Another reason not to pay attention to any opinions or advice he gives.

 

[luvthe9]

Chip Munn, again, in the wrong when it comes to East pilots careers.

 

[nycbusdriver]

Why don't they make all East pilots senior to all American pilots, that way they'll get the maximum effect of our attrition?

Seriously, I believe APA aready said it will probably be slotting by equipment and status.

It makes no difference at all what APA has said it will "probably" be doing. They don't get to make the final decision.

 

[traderjake]

Do the rest of your CLT pilots interested in recall realize Bill McKee and his fellow BPR members were instrumental in the pension investigation going forward and the recall guys against it?

Counting your chickens again just like rhe LOA 93 arbitration.

I was in favor of the pension investagation, I don't expect it will recover anything for us but thought it worth throwing some money at.

Bill needs to go.

 

[end_of_alpa]

http://www.jetpiedmont.com/milestones/

The timeline shows that the agreement to merge occurred early March, 1987. The DOT approved the merger in October, 1987.

That would put the first announcement in February, 1987.

For the sake of memory I was just trying to recall it. It's not that critically import in the grand scheme of things I just didn't remember it to be that close to when I got hired. That's all.

 

[Walmartgreeter]

Luv just said: "Do the rest of your CLT pilots interested in recall realize Bill McKee and his fellow BPR members were instrumental in the pension investigation going forward and the recall guys against it? Looks like McKee was correct. Had your recall guys been in, the pension investigation would most likely been halted. Just as it gains traction. Bad move."

You are so transparent Luv, you must be freaking out having just seen the recall site. They have the votes, and then some. It is happening, and your little pension diversion is just that. More FUD.

We all had our vote on the PIC assessment, and nobody I know wishes them all anything but success, however they voted.

And who are the recall folks that you say are "going in?" We have not gotten rid of the old ones yet. Yet again, FUD. But you mentioning the possibility is a tell on what you think the future brings.

Greeter

 

[end_of_alpa]

You should tell that to End-of-Alpa... He's thinks that USAirways bought AWA.

Why don't you ask Doug yourself.

The truth hurts.

Have a nice holiday.

 

[nycbusdriver]

Remember James Witt telling Parker in the crew news video the pension news was coming? Parker looked like a deer in the headlights. This one has legs.


I am sure Mr. Parker can help find them, with the help of Dave Siegle

Your characterization of Mr. Parker's demeanor at that meeting is completely wrong. We all saw it. He looked more puzzled than concerned at the stuff Witt was saying. In fact, EVERYBODY was puzzled as the ridiculous Witt presentation amounted to basically nothing, with few empty threats thrown in for dramatic effect. Parker looked a bit incredulous when Witt finally explained WTF he was talking about. What did he expect Parker to do? Break down and confess to the Kennedy assassination and the LIndbergh kidnapping under his relentless grilling?

Let's all remember that Mr. Parker is the head of a totally different corporation than the one that mismanaged our pension funds. He took the helm of the re-organized US Airways a full 2 1/2 years after the ALPA MEC gave away what was left of the pension in the dark of night.

Trying to intimidate Parker over this makes us look like fools who can't read a calendar, nor understand history.

That being said, maybe Parker could help find documents if the Crystal City paperwork actually made it to Tempe. My guess is that the court will find that these documents don't even exist anymore because they were "accidentally" trashed/shredded during the move. How convenient.

 

[cleardirect]

The AA pilots want nothing to do with stacking the deck with a bunch of West pilots. They want the LCC list to be DOH. Ask any of them, there is no way they want younger guys ahead of the older East group. It negates the attrition.

How did that DOH theory work out for the TWA guys?

Do you think the APA guys want w DOH list that puts the lowest paid F/O senior to their captains? Never going to happen

 

[cleardirect]

Why don't they make all East pilots senior to all American pilots, that way they'll get the maximum effect of our attrition?

Seriously, I believe APA aready said it will probably be slotting by equipment and status.

Of we are to take luv seriously he would demand the senior list be ordered by date of birth.

 

[cleardirect]

Remember James Witt telling Parker in the crew news video the pension news was coming? Parker looked like a deer in the headlights. This one has legs.

Where is that smoking gun document usapa promised many months ago? The one he threatened Parker with.

Did I miss usapa publishing that bit of evidence?

 

[Claxon]

How did that DOH theory work out for the TWA guys?

Do you think the APA guys want w DOH list that puts the lowest paid F/O senior to their captains? Never going to happen

TWA pilots won a law suit vs ALPA and damages are pending. TWA pilots also gave away their scope clause, thanks for reminding the East pilots the consequence of such.

In the event of a merger with US Airways, APA is not concerned, as the pilot groups will be under a fence agreement until the majority of East pilots are retired.

 

[cleardirect]

It makes no difference at all what APA has said it will "probably" be doing. They don't get to make the final decision.

Would you mean that a neutral arbitrator gets to decide what the seniority list will be?

Well why is it that APA will not make the final decision but east pilots think they can make the decision?

Double standard.