Voted

RES87rno

Member
Nov 6, 2002
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After 16 years, and being unemployed as of Jan. 10th I made the decision to vote Yes. Right or wrong, it''s a done deal. Best of luck to those who remain, I hope he (Siegal) pulls it off.
 

delldude

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Oct 29, 2002
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vote your conscience and be proud of it!
 
Dec 21, 2002
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[blockquote]
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On 1/1/2003 4:29:44 PM RES87rno wrote:

After 16 years, and being unemployed as of Jan. 10th I made the decision to vote Yes. Right or wrong, it's a done deal. Best of luck to those who remain, I hope he (Siegal) pulls it off.
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[/blockquote]


How much do you want to bet that Siegel pulls a war clause the minute one shot is fired or the DOW drops 300 points, or of his own doing that the union cannot/will not dispute as in last year's force majeure, and suspends all furlough bennys after Jan 10?? I honestly would not put it past him.
Do you honestly think labor friendly Dave wants to pay 250 people in res an average of 10 to 12 weeks severance @ 800 dollars a week "sitting on their asses at home" furloughed,while the company is bleeding cash daily? I don't. He will find a way to stop this big sev payout I betcha.
 

2cents

Member
Dec 17, 2002
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[blockquote]
----------------
On 1/1/2003 4:29:44 PM RES87rno wrote:

After 16 years, and being unemployed as of Jan. 10th I made the decision to vote Yes. Right or wrong, it's a done deal. Best of luck to those who remain, I hope he (Siegal) pulls it off.
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[/blockquote]
From those of us who still want to work for U I say thank you.
I think from a logical point of view giving Dave the green light is the only option.
 

pitguy

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Aug 21, 2002
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I can see them trying to do away with severance soon. The layoffs now are costing them allot more for the severance money then when they were just paying people for a few weeks.
 

tug_slug

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Sep 9, 2002
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Im a little confused about this. How can U do away with our severance if its negotiated in our contract (IAM)? It is still in our contract isnt it? [BR][BR]Thanks[BR][BR]Tug
 
OP
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RES87rno

Member
Nov 6, 2002
44
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I'm not sure if he can or can't. I'm sure there are ways around anything if you have a good team of lawyers. Hopefully he won't cut off our severance but we'll find out shortly. All I know is when I signed up with the airlines we had a simple agreement. The agreement was I would do the work I was assigned and in return I would receive a check and some benefits. Period. As much as I would like this to be like "It's a wonderful life" and Dave would personally "thank me" for my hard work and "loyalty" to the company, it's just not going to happen.
 

oldiebutgoody

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Aug 23, 2002
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[P]
[BLOCKQUOTE][BR]----------------[BR]On 1/1/2003 7:05:59 PM tug_slug wrote:
[P]Im a little confused about this. How can U do away with our severance if its negotiated in our contract (IAM)? It is still in our contract isnt it? [BR][BR]Thanks[BR][BR]Tug[/P]----------------[/BLOCKQUOTE]
[P][/P]No, they can't do away with the severance, at least without court approval. That would amount to an 1113 action, something that has NEVER been approved. I believe that since these agreements were negotiated "post petition" that the company would have very serious difficulties in trying to eliminate it. All bets are off if the agreements get voted down, since this would force the company to either liquidate or go to the judge for more relief (i.e. some 1113 actions). Just because 1113 actions have never been approved before doesn't mean that they won't be in the future, especially if the company can prove that the unions are being unreasonable in their demands (considering the fiscal condition of the company).
 

Hope777

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Aug 19, 2002
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Look at it this way, 6 Million is less then the * 10 * MILLION we are giving Midway to restart service. Oldie, I don't have a copy of our contract home, but isn't there a clause in the event of war they can terminate severence pay?
 

delldude

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Oct 29, 2002
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there is a clause in the proposal yet to be voted on by IAM that says something about large troop deployments.well keep an eye on [A href="http://www.antiwar.com/"]www.antiwar.com[/A] ....you can get a good idea whats happening on that site.its getting to be a big dance already.
 

oldiebutgoody

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Aug 23, 2002
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[P]
[BLOCKQUOTE][BR]----------------[BR]On 1/2/2003 8:16:16 AM Hope777 wrote:
[P]Look at it this way, 6 Million is less then the * 10 * MILLION we are giving Midway to restart service. Oldie, I don't have a copy of our contract home, but isn't there a clause in the event of war they can terminate severence pay?[/P]----------------[/BLOCKQUOTE]
[P][/P]I have it here somewhere, but not right in front of me. I read it pretty extensibly and do not remember that being in it. There is a provision for reduced pay, but here's the rub. If the company considered the war enough to place it in the TA, I doubt that they can claim "force majeur" to get out of any other provisions in it. Remember, however, that any time the company does not qualify for the ATSB loan that the DIP financing is also gone. The company would almost immediately cease to exist (unless some white knight with strange investment habits like the RSA steps up, but I doubt that you'll find many more of those!). I believe that since these TAs were negotiated after the bankruptcy filing that the employees would go onto the "post petition" creditors list (I could be wrong, but I'll bet the unions would argue this as well), making some percentage of the benefits payable under most circumstances.
 

Justaramper

Advanced
Dec 15, 2002
218
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Furlough Allowance was agreed to in 1999..by all IAM members...There is a war emergency clause for suspension of the Furlough Allowance payments. The "new" wording goes more in depth than the "old" language
 

diogenes

Veteran
Aug 22, 2002
2,515
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Article 10 of the FSA says the company can sever you from the company without further pay (including bennies) in the event of war, act of God, etc.

Concessions, part II clarifies war, vis a vis Iraq, to mean sustained aerial bombardment outside the current no-fly zone, or the introduction of ground troops (the 24th Infantry is ready to deploy NOW for Iraq). Also included are acts of terror. I verified with the IAM at the district level U could place people on the street without severance or benefits in the event of the foregoing.