This is why they settled first. It seems to me that the new C fund, the $550 million interest bearing (semiannual) convertable bonds, and the stock will make up for the loss of their "A" fund (defined benefit plan). Do you really think that they would just let that huge "A" fund just disappear? Also they still have their 9% "B" fund. How will this be paid for? Poverty level pay and outsourcing for non-pilot employees. The pilots' strategy is to ally themselves with management in decimating the non-pilot salaries in order to fund this agreement. Remember that Duane Worthe (ALPA national's president) sat right next to Robert Crandall in front of a congressional commitee extolling the virtues of maintanence outsourcing. Also I remember reading somewhere on these boards that a UA pilot said that UA could outsource ramp; wishful thinking on his part. I know I am going to get criticized by pilots for this and yes pilots have every right to negotiate what they can get BUT the other employees have JUST AS MUCH OF A RIGHT to negotiate a fair and equitable agreement which provides an average lifestyle and $20,000 a year with a 2% 401k match after 20 years at UAL on the ramp in SFO, LGA, or ORD is definately not an average lifestyle; it is called the "working poor".
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