PBGC News

[Move2CLT]

Dave Bates has an obligation to look at every option APA has for its members going forward. I can tell you every correspondence I've seen references B6 and AS. When LCC comes up, a lots of eyes roll, even my reps. They're well aware of the train wreck LCC is, and is well versed on what LCC DOESN'T do for us

We know LCC is going to make an offer. LCC has to. Absent a merger with AA, Dougies future dims rapidly. Dave Bates should have a look at what will be on the table from all parties. There will be at least four in total.

You do realize that AA is even a bigger train wreck right?

No exit strategy from bankrupty, losing money like crazy...

Our long term may be dim, but damn, your short term is dark.

 

[Move2CLT]

There will be fences alright, all west pilots will be fenced to PHX, shortly after the merger PHX will be abandoned and all west pilots will hit the street. No flame bait here, the APA will do whatever they can to protect all of their members, including the furloughed. A Nic type slotted agreement with the APA is a west pipe dream.

Skier

LMAO.

That was an fing stupid post.

 

[Move2CLT]

Basic Logic, We are hired at some date ie DOH, at each individual airline absent any merger, that is your seniority number, applications are filled out at respective carriers when those basic qualifications are met you apply denied or hired, at 16 you "RELATIVELY" don't have the qualifications , MEET ALPA MERGER POLICY, time stands still, economic conditions don't apply, and income to ALPA NATIONAL is premium, BYE, BYE ALPA, DELTA is awake AIRTRAN is also! LEE MOAK KMA!

See people! This is what happens when old people don't take their meds.

So sad.

 

[signals]

If they live up to the deals they make then we'll be ok.

You guys don't like to honor your agreements and like to project the blame for your failures onto others.

The APA and AoL have been in communication with each other regarding the Nic award and a merger with the APA.

We'll be better off then we ever were with APA and you guys will experience first hand what a cram down really feels like.

Much like everyone else, I'm guessing APA is playing with all of you.

 

[signals]

No.

You guys didn't want fences as it would prevent your more junior FOs from upgrading.

So fences are fine by me with the APA.

Too late for USAPA.

Why would APA be any different. APA has about 10000 pilots, and even if you gain the seniority against the USAKAs, you would still be near the bottom. I might be wrong...ha-ha...but this just sounds like spite. You're cutting your nose to spite your face

But what do I know?

 

[usa1]

Does Mr. Will see the PBGC as a normal escape from promises to workers?

The pilots and other union workers at American Airlines are not grossly overcompensated; the executives who underfunded pensions while paying themselves lavishly and costing regular shareholders their investments by putting the company into bankruptcy are the ones who are overpaid.

http://www.washingtonpost.com/opinions/airline-industry-turbulence-is-good-for-fliers/2012/04/13/gIQAGGQxFT_story.html

http://www.washingtonpost.com/opinions/pilots-deserve-good-pay-not-derision/2012/04/18/gIQAtH0ZRT_story.html

 

[usa1]

Bankruptcy Law Legal Update March 2012 American Airlines

http://www.slideshare.net/DavidConaway/bankruptcy-law-legal-update-march-2012-american-airlines

American Pension Fund Fiasco

http://www.slideshare.net/dhiraj.surana/american-pension-fund-fiasco

 

[usa1]

Government takes care of the auto unions ... but screws airline employees? Now I have to work and pay taxes until IM 80, to pay for their pension and retirement healthcare plan. And I can't even afford one of their cars? :angry:

http://www.volokh.co...pension-top-up/

I’ll be testifying today in a hearing in the House Government Oversight Committee regarding GM’s decision to spend $1 billion in taxpayer bailout dollars to top-up the pensions of Delphi’s UAW retirees (and later, members of the Electrical Workers and Steelworkers unions but not members of other unions or salaried workers). In other words, a bankrupt company spent $1 billion to pay for the pensions of the retirees of a complete separate company (GM spun-off Delphi in 1999). Until now the members of the Obama Administration Task Force have been unwilling to answer questions by the Inspector General of TARP as to how this decision was made and whether maybe, just maybe, the decision had something to do with the political clout of the UAW rather than being a prudent business decision by GM. Testimony by Ron Bloom and others is here. James Sherk and I discussed this as part of the preferential treatment given to the UAW in the auto bailouts here. I am told the hearing will be broadcast on C-Span3.