RETIREMENT

[eolesen]

But if your position is that Horton is somehow a failure because a company he left six years ago isn't "doing very well at the moment," I'd disagree. I'd blame the people in charge at AT&T for the past six years before I'd assign blame to Horton.

Yep, and SBC was the acquirer in that deal -- they were buying the AT&T name as much as anything else.

 

[DNTULSA]

Frank,

There IS such a thing as retiree insurance. I have been on it since I turned 65. I paid in to it for many years prior to my retirement. The company has already informed us retirees that we will have our insurance cancelled at the end of this year.

Of course, they may do it sooner; they are in bankrupcy.

No, I'm not happy, but that's the way the mop flops.

DNTULSA

The bottom line is the rank and file, if hosed bad enough, will beat a path to the door, hence the proliferation of advisors to figure out that "delicate" balance - it's quite evident those running the show at Centrepork haven't a clue and must depend on outside advice - this is referred to as "market".

I suggested, years ago, that the A&Ps be let go and replaced with Tool & Diemakers throughout as we were being called out to do rather simple jobs like drilling and reaming holes. Since all we held were drivers' licenses, it made sense to eliminate the license requirement - that didn't go over very well. We still run reamers and drills for AO - case in point, the Boeing reamer kit for the 737 tail bushings, designed for mechanics to use but not at AA. That alone would have reduced AA's outlays re: compensation, however.

In short, I don't believe it'll be as bad as what you're representing but that's not to say it'll be pleasant. A frozen pension with the company still administering it will allow many to retire if they wish (without the severe reductions re: a PBGC takeover) but along with that I'd expect an elimination of the early-retirement medical coverage, which is wrongly referred to simply as retiree medical - it's bridge insurance, ten years max. We have to remember the more they take away the less there is to hold over our heads at a later date exactly as has been done this time, the fear being spread about how much we'd supposedly lose.

Remember also this is a "me too" type of filing. The term "strategic" was used - the intent is to get on equal footing with AA's peer group. Considering we are nearly the lowest in compensation of that group, pay may not be as great an issue as some believe

 

[Bob Owens]

I'd expect an elimination of the early-retirement medical coverage, which is wrongly referred to simply as retiree medical - it's bridge insurance, ten years max. We have to remember the more they take away the less there is to hold over our heads at a later date exactly as has been done this time, the fear being spread about how much we'd supposedly lose.

Yes Prefunding provides a bridge that provides you and your spouse a maximum medical benefit of $300k if you retired under 65, that switches to Medigap Insurance with a life time max of $50k after you turn 65. So it provides both. If you dont retire till 65 you get your contributions refunded and the company contribution funds the medigap insurance.

The thing to remember about Prefunding is all those funds, our contributions and the company contributions, are out of reach of the company right now. The only way they can get those funds is if we agree to it.

So we may not be able to prevent management from cancelling our Retiree Medical, but we can stop them from getting a $120 million dollar windfall that comes directly out of TWU members accounts.

 

[AANOTOK]

Yes Prefunding provides a bridge that provides you and your spouse a maximum medical benefit of $300k if you retired under 65, that switches to Medigap Insurance with a life time max of $50k after you turn 65. So it provides both. If you dont retire till 65 you get your contributions refunded and the company contribution funds the medigap insurance.

The thing to remember about Prefunding is all those funds, our contributions and the company contributions, are out of reach of the company right now. The only way they can get those funds is if we agree to it.

So we may not be able to prevent management from cancelling our Retiree Medical, but we can stop them from getting a $120 million dollar windfall that comes directly out of TWU members accounts.

So, we do have control over something I guess!! 🙄

 

[texasreb]

I'm not sure what your point is.

Horton left AT&T almost six years ago after the merger with SBC, so it doesn't make much sense to blame Horton for AT&T's problems, since he's been gone from there for six years. He became redundant after the merger with SBC.

Some people might think like this: Horton leaves AT&T. Six years later, AT&T loses money. AT&T management since early 2006 has failed to deliver. AT&T should have kept Horton.

I don't carry water for the guy, but other than the 3.5 years he spent at AT&T, his entire career has been at AMR. Whether he's great or not? I don't know.

But if your position is that Horton is somehow a failure because a company he left six years ago isn't "doing very well at the moment," I'd disagree. I'd blame the people in charge at AT&T for the past six years before I'd assign blame to Horton.

Why not. They still blame Bush.

 

[TWU informer]

I certainly don't feel we got the best offer that could have been gotten, because we did not push it to the limit.

Bob Owens - Vote No Video

 

[DNTULSA]

Informer,

If you really believe that Bob Owens is responsible for the contract failing to pass,you are wrong.

you keep repeating it like it was a mantra.

After the smoke clears, I suggest you go in to management.

DNTULSA

I certainly don't feel we got the best offer that could have been gotten, because we did not push it to the limit.

Bob Owens - Vote No Video

 

[TWU informer]

Informer,

If you really believe that Bob Owens is responsible for the contract failing to pass,you are wrong.

you keep repeating it like it was a mantra.

After the smoke clears, I suggest you go in to management.

DNTULSA

No I am simply repeating what he said in the VOTE NO video.

 

[furp]

http://www.restructuringamr.com/our-people-retirement.asp