traderjake
Veteran
- Aug 30, 2002
- 5,669
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It the rates do snap back I think the courts will have a problem with it. If the east knew that the rates would return and the east continues to get all of the benefit from separate ops and want DOH and continue to delay the integration and joint contract. The judge may have something to say about that.
And just what will he say? - you agreed to ALPA merger policy. There is no time line for the process.
Hopefully your attorneys looked at the Polar/Atlas merger first.
2001 - Transaction
2005 - Seniority list
2010 ? Joint contract talks starting in Spring 2009
I take it Pacemaker has forgotten only the most visible example of profiteering by previous AAA management...even I remember this one:
The DAY OF FILING for BK, the limo making the drive to NY to file CH11 documents made a few stops along the way:
1) Stephen Wolf $15 million dollars (cashiers' check)
2) Rakeesh Gangwal $15 million dollars (cashiers' check)
3) Larry Nagin (General counsel) $5 million dollars (cashiers' check)
THEN, got back on I-95 to NYC to file CH 11 papers.
Maybe you were sick that day?
I happen to agree with V1, there has been lots of looting over the years.
just read the USAPA Phoenix domicile update and watched the Youtube video promoting USAPA's DOH w/ C&R's.
Easy prediction. The Nicolau award will be implemented sometime early 2010, if not sooner.
And your point is...des nudo,
Well, I was sick that day along with every other employee who witnessed this travesty. Management dropped the ball around 1986 and has yet to pick it up again. But, this airline lost nearly $5 billion in the years before the merger. That's some serious looting!
Call the SEC. If you have any proof or suspicions call the cops. If it is embezzlement then former stock holders would love to know. ALPA is not a regulatory agency. Is there any proof that this happened? If not a union throwing false accusations around like that could find them in serious trouble.And your point is...
Are you saying this is normal? Or are you saying this is acceptable? Or are you simply confirming the claim?
Which is it?
If you think the $35 Million dollar morning was unique, you are mistaken...that was simply the last "free take" from the kitty before filing BK.
Where was ALPA? Why didn't they chase after those monies? This was straight up embezzlement.
Another reason ALPA had to go.
Not quite sure what your point is here?
Both sides agreed to ALPA merger policy. That policy gave us the Nicolau.
You're a real oracle! Didn't you say that the Nic would implemented last year? :huh:
Later,
Eye
The fact is, there IS no time line nor has there ever been. If it takes us a decade to sort this out then that is well within the bounds of ALPA merger policy.
So, you can't have it both ways. If ALPA merger policy gave us the Nic then you must accept, in turn, that merger policy has no time line.
Uh huh.This is how urban legends get started....
The facts are that Wolfe, Gangwal, and Cohen left at different times - none of them "The DAY OF FILING for BK." So they collected their money at different times - Cohen a few months after US exited BK1.
The payouts were part of their change of control package, negotiated when the US/UA merger looked like it might go through. Unfair? Certainly. Another example of corporate greed? Without a doubt. Embezzlement? Hardly - it was all perfectly legal.
ALPA did try to get both the BK court and the company to get the money back from Wolfe and Gangwal (the two that left before/during BK1), but without success.
Jim
This is a post from you Eye...
"I am not a pilot or a US Airways employee. Just a concerned customer hoping that big boys can play nicely...
Later,
Eye"
So let me ask why are you here?