Hopeful
Veteran
- Dec 21, 2002
- 5,998
- 347
Directors update 03-04-03
As I communicated in my update yesterday...
As I communicated in my update yesterday, the Company submitted its first proposal for modifications of our collective bargaining agreements. Under the terms of the Bankruptcy Code, we must deal in good faith with proposals for modifications necessary to permit the reorganization of the debtor.†We are prepared to do this. We are not required, however, to deal with laundry lists that go beyond the statutory requirement. That is what we received from the Company.
The Company asserted in their proposal that our advisors and consultants have concluded that the company requires the $620 million relief. Our consultants and advisors have concluded that the company does need relief, but have not yet confirmed the specific amount. We have; therefore, sent back yesterday''s proposal to the Company and told them that we are prepared to entertain proposals that respond to the above requirement. When and if the Company provides such a proposal, we will bring in our Presidents and our Bargaining Committees and deal in good faith.
Sincerely and fraternally,
James C. Little
Director Air Transport Division
International Administrative Vice President
Basically, the TWU wants clarification and justification before they agrree on concessions!
As I communicated in my update yesterday...
As I communicated in my update yesterday, the Company submitted its first proposal for modifications of our collective bargaining agreements. Under the terms of the Bankruptcy Code, we must deal in good faith with proposals for modifications necessary to permit the reorganization of the debtor.†We are prepared to do this. We are not required, however, to deal with laundry lists that go beyond the statutory requirement. That is what we received from the Company.
The Company asserted in their proposal that our advisors and consultants have concluded that the company requires the $620 million relief. Our consultants and advisors have concluded that the company does need relief, but have not yet confirmed the specific amount. We have; therefore, sent back yesterday''s proposal to the Company and told them that we are prepared to entertain proposals that respond to the above requirement. When and if the Company provides such a proposal, we will bring in our Presidents and our Bargaining Committees and deal in good faith.
Sincerely and fraternally,
James C. Little
Director Air Transport Division
International Administrative Vice President
Basically, the TWU wants clarification and justification before they agrree on concessions!